Janux Therapeutics’ (JANX) Buy Rating Reiterated at HC Wainwright

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $63.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 14.65% from the company’s previous close.

JANX has been the subject of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price objective on shares of Janux Therapeutics in a research report on Thursday. Stifel Nicolaus began 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. Wedbush restated an “outperform” rating and issued a $74.00 price objective on shares of Janux Therapeutics in a research report on Thursday, August 8th. Scotiabank reduced their price objective on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a research report on Friday, August 9th. Finally, UBS Group began coverage on shares of Janux Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.44.

Janux Therapeutics Stock Performance

Shares of JANX stock traded up $0.06 during mid-day trading on Thursday, hitting $54.95. 585,877 shares of the stock were exchanged, compared to its average volume of 712,530. Janux Therapeutics has a 12-month low of $5.65 and a 12-month high of $65.60. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -59.36 and a beta of 3.52. The stock’s fifty day simple moving average is $48.69 and its two-hundred day simple moving average is $46.30.

Janux Therapeutics (NASDAQ:JANX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.18). Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The business had revenue of $0.44 million for the quarter, compared to analyst estimates of $1.50 million. The company’s revenue for the quarter was down 82.6% compared to the same quarter last year. On average, research analysts expect that Janux Therapeutics will post -1.18 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of Janux Therapeutics stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 3,162,851 shares in the company, valued at approximately $132,839,742. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 3,162,851 shares of the company’s stock, valued at $132,839,742. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ra Capital Management, L.P. acquired 1,200,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were acquired at an average cost of $44.75 per share, with a total value of $53,700,000.00. Following the completion of the purchase, the director now owns 9,317,246 shares in the company, valued at approximately $416,946,758.50. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 420,610 shares of company stock worth $19,288,666. Company insiders own 29.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Plato Investment Management Ltd grew its stake in Janux Therapeutics by 18.7% in the 3rd quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock worth $54,000 after acquiring an additional 187 shares during the period. Victory Capital Management Inc. grew its stake in Janux Therapeutics by 143.4% in the 3rd quarter. Victory Capital Management Inc. now owns 29,745 shares of the company’s stock worth $1,351,000 after acquiring an additional 17,525 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in Janux Therapeutics in the 3rd quarter worth approximately $239,000. China Universal Asset Management Co. Ltd. grew its stake in Janux Therapeutics by 64.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,033 shares of the company’s stock worth $456,000 after acquiring an additional 3,943 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Janux Therapeutics by 639.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 20,343 shares of the company’s stock worth $924,000 after acquiring an additional 17,592 shares during the period. 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.