Janux Therapeutics (NASDAQ:JANX) Price Target Raised to $115.00

Janux Therapeutics (NASDAQ:JANX) had its price objective increased by Stifel Nicolaus from $70.00 to $115.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 84.62% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Leerink Partnrs raised Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday, November 7th. UBS Group initiated coverage on shares of Janux Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target on the stock. BTIG Research lifted their target price on shares of Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $77.90.

Janux Therapeutics Price Performance

NASDAQ JANX traded up $22.11 during trading hours on Tuesday, reaching $62.29. The company’s stock had a trading volume of 5,163,446 shares, compared to its average volume of 737,807. The firm has a fifty day simple moving average of $49.81 and a 200-day simple moving average of $45.77. Janux Therapeutics has a 52 week low of $7.79 and a 52 week high of $71.25. The stock has a market cap of $3.27 billion, a P/E ratio of -53.24 and a beta of 3.30.

Janux Therapeutics (NASDAQ:JANX) last released 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 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. The firm’s quarterly revenue was down 82.6% compared to the same quarter last year. On average, research analysts expect that Janux Therapeutics will post -1.35 earnings per share for the current year.

Insider Buying and Selling

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm’s 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 transaction, the insider now directly owns 3,162,851 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Alan Campbell sold 25,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the completion of the sale, the chief executive officer now owns 257,054 shares in the company, valued at $13,263,986.40. This represents a 8.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 445,610 shares of company stock valued at $20,578,666. 29.40% of the stock is owned by company insiders.

Institutional Trading of Janux Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD purchased a new position in shares of Janux Therapeutics during the first quarter valued at approximately $739,000. Vanguard Group Inc. increased its position in shares of Janux Therapeutics by 38.6% during the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock valued at $51,127,000 after purchasing an additional 378,477 shares during the last quarter. Algert Global LLC purchased a new stake in Janux Therapeutics during the third quarter worth about $1,112,000. Ally Bridge Group NY LLC bought a new stake in shares of Janux Therapeutics in the 3rd quarter worth approximately $4,943,000. Finally, Blue Owl Capital Holdings LP bought a new stake in shares of Janux Therapeutics in the second quarter valued at $1,676,000. 75.39% of the stock is 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.