Janux Therapeutics (NASDAQ:JANX) Given New $91.00 Price Target at Leerink Partners

Janux Therapeutics (NASDAQ:JANXGet Free Report) had its price target increased by investment analysts at Leerink Partners from $79.00 to $91.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ price objective indicates a potential upside of 46.09% from the company’s previous close.

Other analysts have also issued reports about the company. Stifel Nicolaus lifted their target price on Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday. Scotiabank reduced 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 report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of Janux Therapeutics in a research report on Thursday, November 7th. BTIG Research raised their target price on Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. 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 on the stock. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Janux Therapeutics currently has an average rating of “Buy” and an average target price of $77.90.

View Our Latest Analysis on JANX

Janux Therapeutics Trading Up 55.0 %

NASDAQ:JANX traded up $22.11 on Tuesday, hitting $62.29. 5,163,446 shares of the stock were exchanged, compared to its average volume of 737,807. The stock has a fifty day moving average of $49.81 and a 200-day moving average of $45.77. The stock has a market cap of $3.27 billion, a PE ratio of -53.24 and a beta of 3.30. Janux Therapeutics has a fifty-two week low of $7.79 and a fifty-two week high of $71.25.

Janux Therapeutics (NASDAQ:JANXGet Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) 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 during the quarter, compared to analysts’ expectations of $1.50 million. The business’s revenue for the quarter was down 82.6% compared to the same quarter last year. As a group, analysts predict that Janux Therapeutics will post -1.35 earnings per share for the current year.

Insider Activity at Janux Therapeutics

In other news, Director Ra Capital Management, L.P. bought 1,200,000 shares of the business’s stock in a transaction on Friday, October 18th. The stock was purchased at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the transaction, the director now directly owns 9,317,246 shares in the company, valued at approximately $416,946,758.50. The trade was a 14.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David Alan Campbell sold 25,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the sale, the chief executive officer now owns 307,054 shares of the company’s stock, valued at $14,219,670.74. This trade represents a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 445,610 shares of company stock valued at $20,578,666. 29.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Janux Therapeutics

Several large investors have recently made changes to their positions in JANX. Summit Securities Group LLC acquired a new stake in Janux Therapeutics in the 2nd quarter valued at approximately $29,000. Amalgamated Bank raised its holdings in Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after acquiring an additional 368 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Janux Therapeutics during the 2nd quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Janux Therapeutics by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after purchasing an additional 339 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Janux Therapeutics in the second quarter valued at $151,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

About Janux Therapeutics

(Get Free Report)

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.

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