William Blair Reiterates Outperform Rating for Janux Therapeutics (NASDAQ:JANX)

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “outperform” rating reiterated by William Blair in a note issued to investors on Tuesday,RTT News reports.

Several other equities research analysts have also weighed in on the company. Leerink Partners assumed coverage on Janux Therapeutics in a report on Friday, November 22nd. They issued an “outperform” rating and a $79.00 price objective for the company. HC Wainwright lifted their target price on shares of Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday. Scotiabank reduced their price objective 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. UBS Group started coverage on Janux Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $69.00 price objective on the stock. Finally, Stifel Nicolaus started coverage on shares of Janux Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $70.00 target price on the stock. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $72.20.

Janux Therapeutics Stock Performance

JANX traded up $27.95 during midday trading on Tuesday, reaching $68.13. The company had a trading volume of 2,212,364 shares, compared to its average volume of 721,350. The business has a 50-day moving average price of $49.81 and a two-hundred day moving average price of $45.77. Janux Therapeutics has a 12-month low of $7.79 and a 12-month high of $71.25. The stock has a market cap of $3.58 billion, a PE ratio of -58.23 and a beta of 3.30.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.18). The firm had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. Janux Therapeutics’s revenue for the quarter was down 82.6% compared to the same quarter last year. On average, research analysts anticipate that Janux Therapeutics will post -1.35 earnings per share for the current year.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, CEO David Alan Campbell sold 25,000 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the completion of the sale, the chief executive officer now owns 307,054 shares of the company’s stock, valued at $14,219,670.74. This represents a 7.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the completion of the transaction, the insider now owns 3,162,851 shares in the company, 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 sold a total of 445,610 shares of company stock worth $20,578,666 over the last three months. Company insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

A number of institutional investors have recently modified their holdings of the company. FMR LLC raised its position in Janux Therapeutics by 0.6% during the 3rd quarter. FMR LLC now owns 7,824,675 shares of the company’s stock valued at $355,475,000 after purchasing an additional 47,075 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Janux Therapeutics by 40.0% in the third quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock valued at $114,587,000 after acquiring an additional 721,563 shares in the last quarter. 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. Logos Global Management LP boosted its stake in shares of Janux Therapeutics by 400.0% during the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock valued at $31,418,000 after purchasing an additional 600,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Janux Therapeutics by 6.2% during the third quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock valued at $30,107,000 after buying an additional 38,490 shares during the period. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

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.