Janux Therapeutics (NASDAQ:JANX) Rating Increased to Strong-Buy at Leerink Partnrs

Janux Therapeutics (NASDAQ:JANX) was upgraded by equities research analysts at Leerink Partnrs to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

A number of other research firms have also recently weighed in on JANX. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a report on Thursday, November 14th. HC Wainwright restated a “buy” rating and issued a $63.00 price target on shares of Janux Therapeutics in a research report on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and set a $74.00 price target on shares of Janux Therapeutics in a research note on Thursday, August 8th. Stifel Nicolaus initiated coverage on shares of Janux Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $67.70.

Janux Therapeutics Stock Performance

Shares of NASDAQ JANX opened at $50.31 on Friday. Janux Therapeutics has a one year low of $7.79 and a one year high of $65.60. The firm has a market capitalization of $2.64 billion, a P/E ratio of -43.00 and a beta of 3.52. The company’s fifty day moving average is $50.07 and its two-hundred day moving average is $45.92.

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

Insider Activity

In other news, CEO David Alan Campbell sold 25,000 shares of the stock in a transaction 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 $15,101,171.16. This represents a 8.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $42.00, for a total value of $4,551,330.00. Following the completion of the sale, the insider now owns 3,162,851 shares of the company’s stock, valued at approximately $132,839,742. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 420,610 shares of company stock valued at $19,288,666 in the last 90 days. 29.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of JANX. Summit Securities Group LLC purchased a new stake in shares of Janux Therapeutics during the 2nd quarter valued at about $29,000. Amalgamated Bank boosted its holdings in Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after acquiring an additional 368 shares during the period. Plato Investment Management Ltd acquired a new stake in Janux Therapeutics in the second quarter valued at approximately $42,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Janux Therapeutics by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after purchasing an additional 339 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Janux Therapeutics during the second quarter worth $151,000. Institutional investors and hedge funds 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.