Janux Therapeutics’ (JANX) Outperform Rating Reiterated at William Blair

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “outperform” rating reiterated by investment analysts at William Blair in a research report issued on Friday,RTT News reports.

Several other research firms have also recently weighed in on JANX. Leerink Partners boosted their price target on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Leerink Partnrs upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. Scotiabank increased their price target on Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 4th. Stifel Nicolaus boosted their price objective on Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, UBS Group initiated coverage on Janux Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $69.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $89.90.

Janux Therapeutics Stock Performance

Shares of JANX opened at $46.76 on Friday. The firm has a market capitalization of $2.45 billion, a P/E ratio of -39.97 and a beta of 3.23. Janux Therapeutics has a 52 week low of $7.79 and a 52 week high of $71.71. The stock has a 50 day moving average price of $54.26 and a two-hundred day moving average price of $48.25.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $1.50 million. The company’s quarterly revenue was down 82.6% compared to the same quarter last year. On average, equities analysts forecast 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, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $50.02, for a total transaction of $92,186.86. Following the sale, the insider now owns 6,371 shares of the company’s stock, valued at $318,677.42. The trade was a 22.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ra Capital Management, L.P. bought 1,200,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were bought at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the transaction, the director now owns 9,317,246 shares of the company’s stock, valued at approximately $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 a total of 110,177 shares of company stock valued at $6,162,207 over the last three months. 29.40% of the stock is currently owned by insiders.

Institutional Trading of Janux Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in Janux Therapeutics by 202.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock valued at $10,639,000 after buying an additional 156,675 shares in the last quarter. Ally Bridge Group NY LLC purchased a new position in Janux Therapeutics during the third quarter valued at approximately $4,943,000. Algert Global LLC bought a new stake in Janux Therapeutics during the 3rd quarter worth approximately $1,112,000. FMR LLC lifted its stake in Janux Therapeutics by 0.6% in the 3rd quarter. FMR LLC now owns 7,824,675 shares of the company’s stock worth $355,475,000 after purchasing an additional 47,075 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in Janux Therapeutics in the 3rd quarter valued at $940,000. 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.