Janux Therapeutics, Inc. (NASDAQ:JANX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) have been assigned an average rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $66.29.

JANX has been the topic of a number of research analyst reports. Wedbush raised their target price on shares of Janux Therapeutics from $53.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Scotiabank initiated coverage on shares of Janux Therapeutics in a research note on Thursday, May 30th. They issued a “sector perform” rating and a $47.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of Janux Therapeutics in a research note on Thursday, May 9th. HC Wainwright raised their target price on shares of Janux Therapeutics from $50.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Jonestrading initiated coverage on shares of Janux Therapeutics in a research note on Tuesday, April 16th. They issued a “buy” rating and a $70.00 target price on the stock.

Janux Therapeutics Stock Down 1.1 %

Shares of JANX opened at $41.23 on Wednesday. The company’s fifty day moving average is $43.46 and its 200-day moving average is $37.12. Janux Therapeutics has a 12 month low of $5.65 and a 12 month high of $65.60. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -33.79 and a beta of 3.58.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.05. Janux Therapeutics had a negative net margin of 762.92% and a negative return on equity of 13.49%. The company had revenue of $1.25 million for the quarter, compared to analyst estimates of $0.98 million. As a group, research analysts predict that Janux Therapeutics will post -1.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $37,081,025.25. Following the sale, the insider now directly owns 3,271,216 shares in the company, valued at approximately $179,099,076. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Tighe Reardon sold 822,721 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $54.75, for a total transaction of $45,043,974.75. Following the completion of the transaction, the chief financial officer now directly owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $37,081,025.25. Following the transaction, the insider now directly owns 3,271,216 shares of the company’s stock, valued at $179,099,076. The disclosure for this sale can be found here. Insiders have sold 3,000,000 shares of company stock worth $164,250,000 in the last ninety days. Insiders own 35.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors have recently added to or reduced their stakes in JANX. Janus Henderson Group PLC increased its position in Janux Therapeutics by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,965,546 shares of the company’s stock valued at $73,961,000 after acquiring an additional 34,069 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Janux Therapeutics by 38.6% during the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after buying an additional 378,477 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Janux Therapeutics during the 1st quarter worth approximately $20,420,000. Altitude Crest Partners Inc. acquired a new stake in shares of Janux Therapeutics during the 1st quarter worth approximately $7,278,000. Finally, StemPoint Capital LP acquired a new position in Janux Therapeutics during the first quarter valued at approximately $4,580,000. 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.