Stifel Nicolaus Begins Coverage on Janux Therapeutics (NASDAQ:JANX)

Stifel Nicolaus assumed coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a report released on Friday, Marketbeat.com reports. The firm issued a buy rating and a $70.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. Scotiabank lowered their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a sector perform rating for the company in a research note on Friday, August 9th. Cantor Fitzgerald restated an overweight rating and issued a $100.00 price objective on shares of Janux Therapeutics in a report on Thursday, August 8th. HC Wainwright reaffirmed a buy rating and set a $63.00 price objective on shares of Janux Therapeutics in a research report on Monday, August 19th. Finally, Wedbush reiterated an outperform rating and issued a $74.00 price target on shares of Janux Therapeutics in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Janux Therapeutics presently has a consensus rating of Moderate Buy and a consensus target price of $66.13.

Janux Therapeutics Stock Up 1.4 %

JANX stock opened at $41.85 on Friday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -34.30 and a beta of 3.57. Janux Therapeutics has a 12-month low of $5.65 and a 12-month high of $65.60. The company’s fifty day simple moving average is $42.19 and its 200 day simple moving average is $43.72.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Wednesday, August 7th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The company had revenue of $8.90 million for the quarter, compared to analysts’ expectations of $0.77 million. The firm’s revenue was up 709.1% compared to the same quarter last year. Research analysts expect that Janux Therapeutics will post -1.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in shares of Janux Therapeutics during the 2nd quarter valued at approximately $5,715,000. Blue Owl Capital Holdings LP purchased a new stake in shares of Janux Therapeutics in the second quarter valued at about $1,676,000. The Manufacturers Life Insurance Company increased its position in shares of Janux Therapeutics by 234.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,048 shares of the company’s stock worth $1,007,000 after purchasing an additional 16,864 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Janux Therapeutics in the second quarter valued at $215,000. Finally, Samlyn Capital LLC raised its stake in shares of Janux Therapeutics by 9.6% in the second quarter. Samlyn Capital LLC now owns 324,703 shares of the company’s stock valued at $13,602,000 after acquiring an additional 28,312 shares in the last quarter. Hedge funds and other institutional investors own 75.39% of the company’s stock.

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.