Janux Therapeutics (NASDAQ:JANX) Now Covered by Leerink Partners

Leerink Partners initiated coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a report published on Friday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $79.00 target price on the stock.

A number of other research firms have also recently commented on JANX. Stifel Nicolaus began coverage on shares of Janux Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $70.00 price target for the company. William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a research report on Thursday, November 14th. Wedbush reissued an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $63.00 price target on shares of Janux Therapeutics in a research note on Thursday, November 7th. Finally, Scotiabank reduced their price objective on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Janux Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $67.70.

Janux Therapeutics Trading Up 8.2 %

Shares of JANX stock opened at $50.31 on Friday. Janux Therapeutics has a 52-week low of $7.79 and a 52-week high of $65.60. The business’s fifty day moving average is $50.07 and its 200 day moving average is $46.03.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly 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 net margin of 463.91% and a negative return on equity of 10.47%. The business had revenue of $0.44 million during the quarter, compared to analysts’ expectations of $1.50 million. The firm’s quarterly revenue was down 82.6% on a year-over-year basis. As a group, equities research analysts predict that Janux Therapeutics will post -1.34 earnings per share for the current year.

Insider Activity at Janux Therapeutics

In related news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the transaction, the insider now owns 3,162,851 shares in the company, valued at $132,839,742. The trade was a 3.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Alan Campbell sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $53.54, for a total value of $1,338,500.00. Following the transaction, the chief executive officer now directly owns 282,054 shares of the company’s stock, valued at $15,101,171.16. The trade was a 8.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 420,610 shares of company stock worth $19,288,666 in the last three months. 29.40% of the stock is owned by insiders.

Institutional Trading of Janux Therapeutics

Several large investors have recently added to or reduced their stakes in JANX. Summit Securities Group LLC purchased a new stake in shares of Janux Therapeutics in the 2nd quarter worth about $29,000. Amalgamated Bank raised its stake in Janux Therapeutics by 61.1% in the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after buying an additional 368 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in Janux Therapeutics in the second quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Janux Therapeutics by 21.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after acquiring an additional 339 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Janux Therapeutics during the 2nd quarter valued at approximately $151,000. Institutional investors 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.