Janux Therapeutics (NASDAQ:JANX) Receives Buy Rating from HC Wainwright

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $70.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 122.01% from the stock’s previous close.

Several other research firms have also commented on JANX. Wall Street Zen raised Janux Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Guggenheim assumed coverage on shares of Janux Therapeutics in a report on Wednesday, September 3rd. They issued a “buy” rating and a $72.00 target price for the company. Barclays increased their price target on shares of Janux Therapeutics from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Stifel Nicolaus restated a “buy” rating and issued a $45.00 price target on shares of Janux Therapeutics in a report on Wednesday, September 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of Janux Therapeutics in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Janux Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $79.17.

Janux Therapeutics Price Performance

Shares of Janux Therapeutics stock opened at $31.53 on Tuesday. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -18.77 and a beta of 2.83. The firm’s 50-day moving average is $26.21 and its two-hundred day moving average is $25.08. Janux Therapeutics has a 1 year low of $21.73 and a 1 year high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.21. The business had revenue of $10.00 million during the quarter, compared to the consensus estimate of $3.07 million. On average, equities analysts expect that Janux Therapeutics will post -1.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Andrew Hollman Meyer sold 3,333 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $30.00, for a total value of $99,990.00. Following the transaction, the insider directly owned 84,974 shares of the company’s stock, valued at approximately $2,549,220. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quinn Opportunity Partners LLC boosted its holdings in shares of Janux Therapeutics by 15.4% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 59,893 shares of the company’s stock valued at $1,384,000 after acquiring an additional 8,000 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Janux Therapeutics by 88.0% during the first quarter. Cubist Systematic Strategies LLC now owns 75,860 shares of the company’s stock valued at $2,048,000 after purchasing an additional 35,511 shares during the period. AlphaQuest LLC boosted its holdings in Janux Therapeutics by 3,658.9% in the second quarter. AlphaQuest LLC now owns 9,698 shares of the company’s stock valued at $224,000 after purchasing an additional 9,440 shares during the last quarter. Bank of New York Mellon Corp grew its position in Janux Therapeutics by 13.3% during the 1st quarter. Bank of New York Mellon Corp now owns 89,370 shares of the company’s stock worth $2,413,000 after purchasing an additional 10,511 shares during the period. Finally, Deutsche Bank AG grew its position in Janux Therapeutics by 7.2% during the 1st quarter. Deutsche Bank AG now owns 99,691 shares of the company’s stock worth $2,692,000 after purchasing an additional 6,662 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.

Janux Therapeutics Company Profile

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.