Cantor Fitzgerald Reiterates Overweight Rating for Janux Therapeutics (NASDAQ:JANX)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Janux Therapeutics (NASDAQ:JANX) in a research note published on Monday, Benzinga reports. They currently have a $100.00 target price on the stock.

A number of other research analysts have also issued reports on the stock. Scotiabank cut their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a sector perform rating on the stock in a research note on Friday, August 9th. Wedbush restated an outperform rating and set a $74.00 price target on shares of Janux Therapeutics in a research note on Thursday, August 8th. HC Wainwright reiterated a buy rating and issued a $63.00 price objective on shares of Janux Therapeutics in a research note on Monday, August 19th. Finally, Stifel Nicolaus assumed 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $66.13.

Janux Therapeutics Trading Down 2.3 %

Shares of Janux Therapeutics stock opened at $48.32 on Monday. Janux Therapeutics has a 12-month low of $5.65 and a 12-month high of $65.60. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -39.61 and a beta of 3.57. The firm’s 50 day simple moving average is $43.28 and its two-hundred day simple moving average is $44.19.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. Janux Therapeutics had a negative net margin of 291.17% and a negative return on equity of 8.78%. The business had revenue of $8.90 million for the quarter, compared to analyst estimates of $0.77 million. The company’s revenue was up 709.1% compared to the same quarter last year. On average, sell-side analysts predict that Janux Therapeutics will post -1.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction of $4,551,330.00. Following the sale, the insider now directly owns 3,162,851 shares of the company’s stock, valued at $132,839,742. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 268,578 shares of company stock valued at $12,071,151. Corporate insiders own 35.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in Janux Therapeutics during the second quarter worth $29,000. Amalgamated Bank lifted its holdings in Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after purchasing an additional 368 shares in the last quarter. Plato Investment Management Ltd purchased a new position in Janux Therapeutics during the second quarter valued at $42,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Janux Therapeutics during the second quarter valued at $151,000. Finally, AQR Capital Management LLC purchased a new position in Janux Therapeutics during the second quarter valued at $215,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

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.