Janux Therapeutics (NASDAQ:JANX) Price Target Raised to $100.00 at BTIG Research

Janux Therapeutics (NASDAQ:JANX) had its price target upped by BTIG Research from $82.00 to $100.00 in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price objective on shares of Janux Therapeutics in a report on Thursday, November 7th. UBS Group assumed coverage on shares of Janux Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $69.00 price target on the stock. Stifel Nicolaus initiated coverage on shares of Janux Therapeutics in a research report on Friday, September 6th. They issued a “buy” rating and a $70.00 price objective for the company. Scotiabank reduced 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 report on Friday, August 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $74.00 price target on shares of Janux Therapeutics in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $77.90.

Janux Therapeutics Stock Performance

JANX opened at $59.86 on Tuesday. Janux Therapeutics has a 1 year low of $7.79 and a 1 year high of $71.25. The company’s 50 day simple moving average is $49.60 and its 200 day simple moving average is $45.72. The stock has a market capitalization of $3.14 billion, a PE ratio of -51.16 and a beta of 3.29.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The company had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The company’s revenue was down 82.6% on a year-over-year basis. As a group, sell-side analysts expect that Janux Therapeutics will post -1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of Janux Therapeutics stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $42.00, for a total value of $4,551,330.00. Following the completion of the transaction, the insider now directly owns 3,162,851 shares in the company, valued at approximately $132,839,742. This trade represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ra Capital Management, L.P. acquired 1,200,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were purchased at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the purchase, the director now directly owns 9,317,246 shares of the company’s stock, valued at $416,946,758.50. This represents a 14.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 460,610 shares of company stock worth $21,583,666 in the last three months. 29.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

Institutional investors have recently made changes to their positions in the company. Plato Investment Management Ltd boosted its holdings in Janux Therapeutics by 18.7% in the third quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock worth $54,000 after purchasing an additional 187 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Janux Therapeutics by 21.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after buying an additional 339 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after buying an additional 368 shares during the period. Summit Securities Group LLC bought a new stake in shares of Janux Therapeutics during the 2nd quarter valued at about $29,000. Finally, Virtu Financial LLC lifted its holdings in Janux Therapeutics by 48.0% in the third quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock worth $339,000 after acquiring an additional 2,419 shares during the last quarter. 75.39% of the stock is currently owned by 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.