Janux Therapeutics (NASDAQ:JANX) Given New $42.00 Price Target at Scotiabank

Janux Therapeutics (NASDAQ:JANX) had its price target reduced by Scotiabank from $47.00 to $42.00 in a research note released on Friday, Benzinga reports. They currently have a sector perform rating on the stock.

Several other brokerages also recently weighed in on JANX. Jonestrading started coverage on shares of Janux Therapeutics in a research report on Tuesday, April 16th. They set a buy rating and a $70.00 price objective for the company. HC Wainwright lifted their target price on shares of Janux Therapeutics from $50.00 to $63.00 and gave the company a buy rating in a report on Monday, May 13th. Wedbush reaffirmed an outperform rating and issued a $74.00 target price on shares of Janux Therapeutics in a report on Thursday. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $100.00 target price on shares of Janux Therapeutics in a report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $65.57.

Janux Therapeutics Price Performance

Shares of NASDAQ:JANX traded down $0.63 during trading on Friday, hitting $35.86. 400,907 shares of the company were exchanged, compared to its average volume of 763,031. The stock has a market capitalization of $1.86 billion, a P/E ratio of -29.39 and a beta of 3.57. Janux Therapeutics has a 12-month low of $5.65 and a 12-month high of $65.60. The firm’s 50 day moving average price is $41.96 and its 200-day moving average price is $38.50.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.20. The business had revenue of $8.90 million during the quarter, compared to the consensus estimate of $0.77 million. Janux Therapeutics had a negative net margin of 762.92% and a negative return on equity of 13.49%. The company’s quarterly revenue was up 709.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Janux Therapeutics will post -1.34 EPS for the current year.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, CFO Tighe Reardon sold 822,721 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $45,043,974.75. Following the transaction, the chief financial officer now directly owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total transaction of $37,081,025.25. Following the transaction, the insider now directly owns 3,271,216 shares of the company’s stock, valued at approximately $179,099,076. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Tighe Reardon sold 822,721 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $45,043,974.75. Following the transaction, the chief financial officer now directly owns 633,673 shares in the company, valued at $34,693,596.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,000,000 shares of company stock valued at $164,250,000. 35.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its stake in shares of Janux Therapeutics by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,965,546 shares of the company’s stock worth $73,961,000 after purchasing an additional 34,069 shares during the period. Vanguard Group Inc. boosted its position in shares of Janux Therapeutics by 38.6% in the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after buying an additional 378,477 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Janux Therapeutics in the 1st quarter worth about $20,420,000. Altitude Crest Partners Inc. purchased a new stake in shares of Janux Therapeutics in the 1st quarter worth about $7,278,000. Finally, StemPoint Capital LP purchased a new stake in shares of Janux Therapeutics in the 1st quarter worth about $4,580,000. 75.39% of the stock is owned by institutional investors and hedge funds.

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.