Janux Therapeutics (NASDAQ:JANX) Upgraded to “Strong-Buy” at Leerink Partnrs

Leerink Partnrs upgraded shares of Janux Therapeutics (NASDAQ:JANX) to a strong-buy rating in a research report report published on Friday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research report on Thursday, November 14th. Wedbush restated an “outperform” rating and set a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research note on Thursday, November 7th. Leerink Partners assumed coverage on shares of Janux Therapeutics in a research report on Friday. They set an “outperform” rating and a $79.00 target price on the stock. Finally, Scotiabank decreased their target price on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Janux Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $67.70.

Janux Therapeutics Trading Up 8.2 %

NASDAQ:JANX opened at $50.31 on Friday. Janux Therapeutics has a 12 month low of $7.79 and a 12 month high of $65.60. The company has a market cap of $2.64 billion, a PE ratio of -43.00 and a beta of 3.52. The company has a 50 day simple moving average of $50.07 and a two-hundred day simple moving average of $46.03.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics’s revenue for the quarter was down 82.6% on a year-over-year basis. Research analysts forecast that Janux Therapeutics will post -1.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO David Alan Campbell sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $53.54, for a total value of $1,338,500.00. Following the completion of the sale, the chief executive officer now owns 282,054 shares of the company’s stock, valued at approximately $15,101,171.16. This represents a 8.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the completion of the sale, the insider now directly owns 3,162,851 shares of the company’s stock, valued at $132,839,742. The trade was a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 420,610 shares of company stock worth $19,288,666 in the last three months. Corporate insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Several hedge funds have recently modified their holdings of JANX. Janus Henderson Group PLC lifted its position in shares of Janux Therapeutics by 40.0% in the 3rd quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock worth $114,587,000 after purchasing an additional 721,563 shares during the period. Logos Global Management LP lifted its position in shares of Janux Therapeutics by 400.0% in the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock worth $31,418,000 after purchasing an additional 600,000 shares during the period. Vanguard Group Inc. lifted its position in shares of Janux Therapeutics by 38.6% in the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after purchasing an additional 378,477 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Janux Therapeutics by 190.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 395,875 shares of the company’s stock worth $17,985,000 after purchasing an additional 259,445 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Janux Therapeutics by 202.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock worth $10,639,000 after purchasing an additional 156,675 shares during the period. Hedge funds and other institutional investors own 75.39% of the company’s stock.

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.