Janux Therapeutics (NASDAQ:JANX) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Janux Therapeutics (NASDAQ:JANX) in a research report sent to investors on Friday morning,RTT News reports. The firm currently has a $76.00 price objective on the stock.

A number of other equities analysts also recently issued reports on the company. Barclays raised their price target on Janux Therapeutics from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday. Stifel Nicolaus reissued a “buy” rating and issued a $45.00 target price on shares of Janux Therapeutics in a research report on Wednesday, September 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Wednesday, October 8th. Piper Sandler started coverage on shares of Janux Therapeutics in a research note on Monday, August 18th. They issued an “overweight” rating and a $42.00 price objective on the stock. Finally, Guggenheim started coverage on shares of Janux Therapeutics in a research note on Wednesday, September 3rd. They issued a “buy” rating and a $72.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Janux Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.17.

Janux Therapeutics Stock Performance

Shares of JANX stock traded down $2.18 during trading hours on Friday, reaching $26.48. The company had a trading volume of 1,750,098 shares, compared to its average volume of 1,196,176. The business has a fifty day moving average price of $25.11 and a 200-day moving average price of $25.27. Janux Therapeutics has a one year low of $21.73 and a one year high of $71.71. The firm has a market cap of $1.59 billion, a PE ratio of -15.76 and a beta of 2.83.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.21. The company had revenue of $10.00 million during the quarter, compared to analysts’ expectations of $3.07 million. Equities research analysts forecast that Janux Therapeutics will post -1.38 EPS for the current year.

Insider Activity

In related news, insider Andrew Hollman Meyer sold 16,665 shares of the stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $30.06, for a total value of $500,949.90. Following the completion of the sale, the insider directly owned 82,139 shares of the company’s stock, valued at approximately $2,469,098.34. This represents a 16.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Janux Therapeutics by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,033 shares of the company’s stock worth $244,000 after acquiring an additional 3,168 shares during the period. New York State Common Retirement Fund raised its stake in Janux Therapeutics by 3.0% during the first quarter. New York State Common Retirement Fund now owns 16,435 shares of the company’s stock valued at $444,000 after purchasing an additional 471 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Janux Therapeutics by 88.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 75,860 shares of the company’s stock valued at $2,048,000 after acquiring an additional 35,511 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Janux Therapeutics by 13.3% in the 1st quarter. Bank of New York Mellon Corp now owns 89,370 shares of the company’s stock valued at $2,413,000 after purchasing an additional 10,511 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in Janux Therapeutics by 3,658.9% during the second quarter. AlphaQuest LLC now owns 9,698 shares of the company’s stock worth $224,000 after buying an additional 9,440 shares during the period. 75.39% of the stock is currently owned by institutional investors.

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.