Cantor Fitzgerald Reiterates Overweight Rating for Janux Therapeutics (NASDAQ:JANX)

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research note issued on Wednesday,Benzinga reports. They currently have a $200.00 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 218.57% from the stock’s previous close.

JANX has been the topic of a number of other reports. HC Wainwright upped their target price on shares of Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday, December 3rd. Scotiabank lifted their target price on Janux Therapeutics from $42.00 to $62.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 4th. UBS Group initiated coverage on Janux Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price objective for the company. Finally, Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $89.90.

Janux Therapeutics Price Performance

Janux Therapeutics stock traded up $0.42 during mid-day trading on Wednesday, reaching $62.78. 118,583 shares of the company traded hands, compared to its average volume of 779,996. The firm’s 50 day moving average price is $51.66 and its 200 day moving average price is $46.48. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -53.66 and a beta of 3.30. Janux Therapeutics has a 52-week low of $7.79 and a 52-week high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. Janux Therapeutics’s quarterly revenue was down 82.6% on a year-over-year basis. On average, sell-side analysts anticipate that Janux Therapeutics will post -1.35 EPS for the current year.

Insider Buying and Selling at Janux Therapeutics

In related news, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the sale, the chief executive officer now owns 307,054 shares of the company’s stock, valued at approximately $14,219,670.74. This trade represents a 7.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ventures Xi L.P. Avalon sold 158,031 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.00, for a total value of $7,427,457.00. Following the completion of the transaction, the insider now owns 2,959,175 shares of the company’s stock, valued at $139,081,225. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 350,063 shares of company stock valued at $16,939,972. Company insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC purchased a new position in shares of Janux Therapeutics during the second quarter valued at about $29,000. Amalgamated Bank increased its holdings in shares of Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after buying an additional 368 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of Janux Therapeutics in the 2nd quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Janux Therapeutics by 21.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after buying an additional 339 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Janux Therapeutics during the 2nd quarter valued at about $151,000. Institutional investors 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.