Janux Therapeutics (NASDAQ:JANX) Now Covered by Analysts at Jonestrading

Investment analysts at Jonestrading started coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $70.00 price target on the stock. Jonestrading’s price target suggests a potential upside of 34.98% from the company’s current price.

Several other analysts have also commented on JANX. BTIG Research assumed coverage on Janux Therapeutics in a report on Thursday, March 21st. They issued a “buy” rating and a $62.00 price objective on the stock. Bank of America raised their price objective on Janux Therapeutics from $24.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Cantor Fitzgerald started coverage on Janux Therapeutics in a report on Wednesday, March 20th. They issued an “overweight” rating and a $100.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday, February 27th. Finally, Wedbush restated an “outperform” rating and issued a $53.00 target price on shares of Janux Therapeutics in a research report on Monday, March 11th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $61.33.

Janux Therapeutics Stock Performance

Shares of JANX stock opened at $51.86 on Tuesday. The firm has a market capitalization of $2.68 billion, a PE ratio of -38.70 and a beta of 4.19. Janux Therapeutics has a fifty-two week low of $5.65 and a fifty-two week high of $58.69. The stock’s 50-day simple moving average is $32.00 and its 200-day simple moving average is $17.11.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Friday, March 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.12. The firm had revenue of $2.46 million for the quarter, compared to analyst estimates of $0.98 million. Janux Therapeutics had a negative return on equity of 17.88% and a negative net margin of 721.18%. Sell-side analysts forecast that Janux Therapeutics will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On Janux Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its stake in Janux Therapeutics by 10,740.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the company’s stock worth $29,000 after acquiring an additional 2,685 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Janux Therapeutics by 149.4% during the first quarter. Tower Research Capital LLC TRC now owns 3,344 shares of the company’s stock worth $40,000 after acquiring an additional 2,003 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Janux Therapeutics during the fourth quarter worth $57,000. Barclays PLC increased its stake in Janux Therapeutics by 533.0% during the fourth quarter. Barclays PLC now owns 4,608 shares of the company’s stock worth $61,000 after acquiring an additional 3,880 shares during the last quarter. Finally, Citigroup Inc. increased its stake in Janux Therapeutics by 935.2% during the second quarter. Citigroup Inc. now owns 5,787 shares of the company’s stock worth $69,000 after acquiring an additional 5,228 shares during the last quarter. Hedge funds and other 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.