Brokerages Set Janux Therapeutics, Inc. (NASDAQ:JANX) Price Target at $53.09

Janux Therapeutics, Inc. (NASDAQ:JANX) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $51.7273.

Several research firms have recently weighed in on JANX. Piper Sandler reduced their price objective on Janux Therapeutics from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, January 16th. UBS Group lowered Janux Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the company from $57.00 to $15.00 in a research note on Wednesday, April 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Thursday, January 22nd. Barclays lowered Janux Therapeutics from an “overweight” rating to an “underweight” rating and cut their target price for the company from $29.00 to $14.00 in a research note on Monday. Finally, Guggenheim cut their target price on Janux Therapeutics from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 27th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JANX. State Street Corp raised its stake in shares of Janux Therapeutics by 103.8% in the fourth quarter. State Street Corp now owns 3,853,951 shares of the company’s stock valued at $53,185,000 after purchasing an additional 1,962,486 shares in the last quarter. Prosight Management LP raised its stake in Janux Therapeutics by 176.5% during the fourth quarter. Prosight Management LP now owns 2,392,523 shares of the company’s stock worth $33,017,000 after acquiring an additional 1,527,173 shares in the last quarter. Wellington Management Group LLP raised its stake in Janux Therapeutics by 129.5% during the fourth quarter. Wellington Management Group LLP now owns 1,610,186 shares of the company’s stock worth $22,221,000 after acquiring an additional 908,582 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Janux Therapeutics during the fourth quarter worth $12,221,000. Finally, Alyeska Investment Group L.P. raised its stake in Janux Therapeutics by 206.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,301,089 shares of the company’s stock worth $17,955,000 after acquiring an additional 876,244 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Janux Therapeutics Trading Down 2.6%

JANX opened at $15.46 on Friday. Janux Therapeutics has a 1-year low of $12.12 and a 1-year high of $35.34. The stock has a market capitalization of $940.46 million, a price-to-earnings ratio of -8.45 and a beta of 2.82. The business has a 50 day moving average of $14.06 and a 200-day moving average of $18.21.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.65) by $0.14. The business had revenue of $7.88 million during the quarter, compared to the consensus estimate of $0.08 million. Equities analysts predict that Janux Therapeutics will post -2.48 EPS for the current year.

About Janux Therapeutics

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.