Janux Therapeutics (NASDAQ:JANX) Earns “Outperform” Rating from Wedbush

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research note issued on Friday,RTT News reports. They presently have a $76.00 price objective on the stock. Wedbush’s price target indicates a potential upside of 187.01% from the stock’s previous close.

Several other equities analysts also recently commented on JANX. Raymond James Financial started coverage on shares of Janux Therapeutics in a report on Friday, July 11th. They issued an “outperform” rating and a $65.00 target price on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $45.00 target price on shares of Janux Therapeutics in a report on Wednesday, September 10th. Piper Sandler assumed coverage on shares of Janux Therapeutics in a research report on Monday, August 18th. They issued an “overweight” rating and a $42.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Janux Therapeutics in a research report on Wednesday, October 8th. Finally, Barclays lifted their price objective on shares of Janux Therapeutics from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $79.17.

Janux Therapeutics Price Performance

NASDAQ:JANX opened at $26.48 on Friday. The business has a fifty day moving average price of $25.11 and a 200-day moving average price of $25.24. Janux Therapeutics has a one year low of $21.73 and a one year high of $71.71. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -15.76 and a beta of 2.83.

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

Insider Activity

In other news, insider Andrew Hollman Meyer sold 16,665 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $30.06, for a total value of $500,949.90. Following the completion of the sale, the insider owned 82,139 shares in the company, valued at approximately $2,469,098.34. This trade represents a 16.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.10% of the company’s stock.

Institutional Trading of Janux Therapeutics

Several institutional investors have recently added to or reduced their stakes in JANX. RA Capital Management L.P. grew its stake in shares of Janux Therapeutics by 7.9% during the first quarter. RA Capital Management L.P. now owns 11,189,693 shares of the company’s stock valued at $302,122,000 after buying an additional 824,041 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Janux Therapeutics by 19.4% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 3,654,574 shares of the company’s stock valued at $98,673,000 after acquiring an additional 592,824 shares during the period. Vanguard Group Inc. grew its position in Janux Therapeutics by 10.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,417,104 shares of the company’s stock valued at $59,074,000 after acquiring an additional 227,676 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Janux Therapeutics by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,392,826 shares of the company’s stock worth $37,607,000 after purchasing an additional 282,848 shares during the period. Finally, Orbimed Advisors LLC increased its stake in Janux Therapeutics by 59.6% in the second quarter. Orbimed Advisors LLC now owns 1,210,300 shares of the company’s stock worth $27,958,000 after purchasing an additional 451,734 shares during the period. Institutional investors 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.