Janux Therapeutics, Inc. (NASDAQ:JANX) Receives $89.90 Consensus PT from Analysts

Janux Therapeutics, Inc. (NASDAQ:JANX) has been assigned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $89.90.

Several research firms have weighed in on JANX. William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday, December 3rd. Scotiabank increased their price target on shares of Janux Therapeutics from $42.00 to $62.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 4th. Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of Janux Therapeutics in a report on Wednesday, December 11th. Finally, Stifel Nicolaus upped their price target on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd.

Janux Therapeutics Stock Down 1.9 %

Shares of Janux Therapeutics stock opened at $54.10 on Friday. Janux Therapeutics has a 52 week low of $7.79 and a 52 week high of $71.71. The company has a 50 day moving average price of $54.43 and a 200 day moving average price of $47.43.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The company had revenue of $0.44 million during the quarter, compared to analysts’ expectations of $1.50 million. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The firm’s quarterly revenue was down 82.6% compared to the same quarter last year. On average, equities analysts predict that Janux Therapeutics will post -1.35 EPS for the current year.

Insiders Place Their Bets

In other Janux Therapeutics news, Director Ra Capital Management, L.P. bought 1,200,000 shares of the stock in a transaction on Friday, October 18th. The shares were bought at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the purchase, the director now directly owns 9,317,246 shares in the company, valued at $416,946,758.50. This trade represents a 14.78 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Ventures Xi L.P. Avalon sold 958 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $46.24, for a total transaction of $44,297.92. Following the completion of the sale, the insider now owns 6,887 shares of the company’s stock, valued at $318,454.88. This trade represents a 12.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,801 shares of company stock worth $5,174,735. Corporate insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in JANX. Charles Schwab Investment Management Inc. boosted its stake in Janux Therapeutics by 202.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock worth $10,639,000 after buying an additional 156,675 shares during the last quarter. Ally Bridge Group NY LLC acquired a new position in shares of Janux Therapeutics during the 3rd quarter valued at about $4,943,000. Algert Global LLC purchased a new stake in shares of Janux Therapeutics in the third quarter valued at about $1,112,000. FMR LLC increased its position in Janux Therapeutics by 0.6% during the third quarter. FMR LLC now owns 7,824,675 shares of the company’s stock worth $355,475,000 after purchasing an additional 47,075 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Janux Therapeutics during the third quarter worth about $940,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

About Janux Therapeutics

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.