Janux Therapeutics (NASDAQ:JANX) Stock Price Expected to Rise, Barclays Analyst Says

Janux Therapeutics (NASDAQ:JANX) had its target price raised by equities research analysts at Barclays from $14.00 to $15.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 9.93% from the stock’s previous close.

A number of other brokerages have also recently commented on JANX. Wolfe Research raised shares of Janux Therapeutics from a “peer perform” rating to an “outperform” rating and set a $23.00 target price for the company in a report on Monday, August 24th. Guggenheim reduced their price target on Janux Therapeutics from $58.00 to $55.00 and set a “buy” rating for the company in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Janux Therapeutics in a report on Friday, October 16th. TD Cowen upgraded shares of Janux Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Finally, HC Wainwright reissued a “buy” rating on shares of Janux Therapeutics in a report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.54.

Janux Therapeutics Stock Performance

NASDAQ JANX traded up $0.59 during trading hours on Friday, hitting $16.65. The company had a trading volume of 129,800 shares, compared to its average volume of 1,053,579. Janux Therapeutics has a 1-year low of $12.12 and a 1-year high of $35.34. The company has a market cap of $1.02 billion, a PE ratio of -10.19 and a beta of 2.44. The business has a 50 day moving average of $17.52 and a 200-day moving average of $15.39.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.13. The firm had revenue of $9.29 million for the quarter, compared to analysts’ expectations of $8.03 million. Sell-side analysts expect that Janux Therapeutics will post -1.70 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Janux Therapeutics by 67.4% in the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock valued at $28,000 after buying an additional 661 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Janux Therapeutics by 42.8% during the 2nd quarter. Versant Capital Management Inc now owns 2,615 shares of the company’s stock worth $40,000 after buying an additional 784 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of Janux Therapeutics by 8.8% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 12,350 shares of the company’s stock worth $213,000 after buying an additional 1,000 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Janux Therapeutics by 7.6% in the 1st quarter. Quantinno Capital Management LP now owns 26,064 shares of the company’s stock worth $362,000 after buying an additional 1,846 shares during the period. Finally, Fulcrum Asset Management LLP raised its position in shares of Janux Therapeutics by 3,391.2% in the 3rd quarter. Fulcrum Asset Management LLP now owns 2,374 shares of the company’s stock worth $40,000 after buying an additional 2,306 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.

Janux Therapeutics Company Profile

Janux Therapeutics, Inc is a clinical-stage biopharmaceutical company developing immune-based medicines for the treatment of cancer and autoimmune diseases. The company’s research is focused on designing therapies that selectively activate the immune system in diseased tissue while limiting activity in healthy tissue.

Janux’s proprietary technology platform is designed to create tumor-activated T-cell engager therapies and other immunomodulators. These medicines are engineered to remain relatively inactive in the circulation and become activated in the tumor microenvironment, with the goal of improving the therapeutic window of immune therapies.