Janux Therapeutics, Inc. (NASDAQ:JANX) Given Average Rating of “Buy” by Brokerages

Janux Therapeutics, Inc. (NASDAQ:JANX) has been assigned a consensus rating of “Buy” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $95.25.

Several equities research analysts recently weighed in on the stock. Scotiabank reduced their target price on shares of Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Janux Therapeutics in a report on Monday, March 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $76.00 price objective (up previously from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th.

Janux Therapeutics Price Performance

Janux Therapeutics stock opened at $23.60 on Friday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -17.35 and a beta of 2.96. The company’s fifty day moving average price is $26.67 and its two-hundred day moving average price is $36.19. Janux Therapeutics has a one year low of $22.48 and a one year high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.05. Janux Therapeutics had a negative return on equity of 9.29% and a negative net margin of 463.91%. As a group, sell-side analysts anticipate that Janux Therapeutics will post -1.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Andrew Hollman Meyer sold 3,333 shares of Janux Therapeutics stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $32.03, for a total transaction of $106,755.99. Following the transaction, the insider now directly owns 82,139 shares of the company’s stock, valued at $2,630,912.17. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in JANX. RA Capital Management L.P. lifted its position in Janux Therapeutics by 13.1% in the 4th quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company’s stock valued at $554,977,000 after acquiring an additional 1,200,000 shares in the last quarter. Paradigm Biocapital Advisors LP increased its stake in shares of Janux Therapeutics by 46.5% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company’s stock worth $188,246,000 after purchasing an additional 1,115,412 shares during the last quarter. Janus Henderson Group PLC grew its stake in Janux Therapeutics by 41.2% in the 4th quarter. Janus Henderson Group PLC now owns 3,562,402 shares of the company’s stock valued at $190,617,000 after buying an additional 1,038,996 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Janux Therapeutics by 47.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company’s stock valued at $163,926,000 after buying an additional 986,750 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Janux Therapeutics by 596.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,109,978 shares of the company’s stock valued at $59,429,000 after buying an additional 950,557 shares during the last quarter. 75.39% of the stock is 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.