Janux Therapeutics’ (JANX) “Outperform” Rating Reaffirmed at William Blair

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “outperform” rating reiterated by equities research analysts at William Blair in a research report issued on Friday,RTT News reports.

Several other brokerages also recently commented on JANX. UBS Group assumed coverage on Janux Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target on the stock. Scotiabank boosted their target price on shares of Janux Therapeutics from $42.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 4th. BTIG Research increased their price target on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Lifesci Capital upgraded shares of Janux Therapeutics to a “strong-buy” rating in a report on Friday, December 27th. Finally, Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $89.90.

Janux Therapeutics Price Performance

Shares of NASDAQ JANX traded down $7.49 during trading hours on Friday, hitting $43.33. 668,144 shares of the stock were exchanged, compared to its average volume of 1,266,243. The firm has a market capitalization of $2.27 billion, a P/E ratio of -37.03 and a beta of 3.23. Janux Therapeutics has a one year low of $7.79 and a one year high of $71.71. The company’s 50 day moving average is $54.42 and its 200 day moving average is $48.18.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results 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 firm had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business’s revenue for the quarter was down 82.6% compared to the same quarter last year. Research analysts anticipate that Janux Therapeutics will post -1.35 earnings per share for the current fiscal year.

Insider Transactions at Janux Therapeutics

In other Janux Therapeutics news, Director Ra Capital Management, L.P. bought 1,200,000 shares of Janux Therapeutics stock in a transaction dated Friday, October 18th. The shares were acquired at an average cost of $44.75 per share, with a total value of $53,700,000.00. Following the acquisition, the director now directly owns 9,317,246 shares of the company’s stock, valued at $416,946,758.50. The trade was a 14.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of Janux Therapeutics stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $50.02, for a total value of $92,186.86. Following the completion of the transaction, the insider now owns 6,371 shares of the company’s stock, valued at approximately $318,677.42. The trade was a 22.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,177 shares of company stock valued at $6,162,207. Corporate insiders own 29.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Amalgamated Bank boosted its stake in shares of Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after purchasing an additional 368 shares during the last quarter. Plato Investment Management Ltd acquired a new position in Janux Therapeutics in the second quarter valued at approximately $42,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 valued at $87,000 after acquiring an additional 339 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Janux Therapeutics during the 2nd quarter worth $215,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Janux Therapeutics during the 2nd quarter valued at $237,000. Institutional investors and hedge funds 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.