Janux Therapeutics (NASDAQ:JANX) Earns Outperform Rating from Wedbush

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research note issued to investors on Friday,RTT News reports. They currently have a $76.00 price target on the stock, up from their previous price target of $75.00. Wedbush’s price objective indicates a potential upside of 134.08% from the company’s current price.

JANX has been the subject of several other research reports. BTIG Research lifted their price target on Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Scotiabank boosted their target price on shares of Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a report on Wednesday, December 4th. Leerink Partners increased their price target on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Lifesci Capital raised shares of Janux Therapeutics to a “strong-buy” rating in a research note on Friday, December 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Janux Therapeutics in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Janux Therapeutics currently has a consensus rating of “Buy” and an average price target of $90.10.

Janux Therapeutics Stock Performance

NASDAQ JANX traded up $0.46 during mid-day trading on Friday, reaching $32.47. 418,850 shares of the stock were exchanged, compared to its average volume of 1,008,366. The stock has a market capitalization of $1.70 billion, a PE ratio of -27.61 and a beta of 3.16. Janux Therapeutics has a 1-year low of $31.69 and a 1-year high of $71.71. The business’s fifty day simple moving average is $44.22 and its 200 day simple moving average is $47.83.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. On average, analysts anticipate that Janux Therapeutics will post -1.38 EPS for the current year.

Insider Activity at Janux Therapeutics

In other news, CEO David Alan Campbell sold 15,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $67.00, for a total transaction of $1,005,000.00. Following the transaction, the chief executive officer now directly owns 242,054 shares of the company’s stock, valued at approximately $16,217,618. The trade was a 5.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew Hollman Meyer sold 13,334 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $54.88, for a total transaction of $731,769.92. Following the completion of the transaction, the insider now owns 82,139 shares of the company’s stock, valued at $4,507,788.32. This trade represents a 13.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 61,668 shares of company stock worth $3,582,515. Corporate insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of institutional investors have recently added to or reduced their stakes in JANX. RA Capital Management L.P. grew its stake in Janux Therapeutics by 13.1% during the 4th quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company’s stock worth $554,977,000 after buying an additional 1,200,000 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its position in Janux Therapeutics by 46.5% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company’s stock valued at $188,246,000 after purchasing an additional 1,115,412 shares during the last quarter. Janus Henderson Group PLC grew its position in Janux Therapeutics by 41.2% in the 4th quarter. Janus Henderson Group PLC now owns 3,562,402 shares of the company’s stock worth $190,617,000 after purchasing an additional 1,038,996 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Janux Therapeutics by 47.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company’s stock valued at $163,926,000 after purchasing an additional 986,750 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Janux Therapeutics by 596.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,109,978 shares of the company’s stock valued at $59,429,000 after buying an additional 950,557 shares during the last quarter. 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.