Janux Therapeutics (NASDAQ:JANX) Coverage Initiated at Leerink Partners

Equities research analysts at Leerink Partners started coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $79.00 price target on the stock. Leerink Partners’ price target points to a potential upside of 69.80% from the company’s previous close.

A number of other research firms also recently weighed in on JANX. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research note on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and set a $63.00 target price on shares of Janux Therapeutics in a research report on Thursday, November 7th. Wedbush reiterated an “outperform” rating and set a $74.00 target price on shares of Janux Therapeutics in a research report on Thursday, August 8th. Finally, UBS Group assumed coverage on shares of Janux Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $69.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.70.

Janux Therapeutics Stock Down 5.0 %

JANX stock opened at $46.53 on Friday. Janux Therapeutics has a 12 month low of $7.79 and a 12 month high of $65.60. The firm has a market cap of $2.44 billion, a P/E ratio of -39.76 and a beta of 3.52. The company’s 50-day moving average price is $50.06 and its two-hundred day moving average price is $46.11.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The firm had revenue of $0.44 million during the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics’s quarterly revenue was down 82.6% on a year-over-year basis. Equities analysts predict that Janux Therapeutics will post -1.34 EPS for the current year.

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. purchased 1,200,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were purchased at an average cost of $44.75 per share, for a total transaction of $53,700,000.00. Following the completion of the transaction, the director now directly owns 9,317,246 shares in the company, valued at approximately $416,946,758.50. This represents a 14.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $42.00, for a total value of $4,551,330.00. Following the sale, the insider now owns 3,162,851 shares in the company, valued at approximately $132,839,742. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 420,610 shares of company stock valued at $19,288,666. 29.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC bought a new stake in shares of Janux Therapeutics during the second quarter valued at about $29,000. Amalgamated Bank increased its position in shares of Janux Therapeutics by 61.1% in the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after purchasing an additional 368 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of Janux Therapeutics in the second quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after purchasing an additional 339 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Janux Therapeutics in the second quarter worth approximately $151,000. 75.39% of the stock is currently owned by institutional investors.

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.