Leerink Partners Initiates Coverage on Janux Therapeutics (NASDAQ:JANX)

Research analysts at Leerink Partners initiated coverage on shares of Janux Therapeutics (NASDAQ:JANX - Get Free Report) in a report issued on Friday, Marketbeat.com reports. The firm set an "outperform" rating and a $79.00 price target on the stock. Leerink Partners' target price would indicate a potential upside of 62.38% from the stock's current price.

A number of other research firms have also recently commented on JANX. 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. UBS Group initiated coverage on shares of Janux Therapeutics in a report on Thursday, October 24th. They issued a "buy" rating and a $69.00 price target on the stock. Stifel Nicolaus began coverage on shares of Janux Therapeutics in a research report on Friday, September 6th. They set a "buy" rating and a $70.00 price objective for the company. Wedbush reiterated an "outperform" rating and set a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. Finally, William Blair reissued an "outperform" rating on shares of Janux Therapeutics in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.70.

Janux Therapeutics Stock Up 4.6 %

Shares of NASDAQ JANX traded up $2.15 during trading hours on Friday, hitting $48.65. The company had a trading volume of 493,544 shares, compared to its average volume of 708,111. The firm's 50 day moving average is $50.06 and its 200-day moving average is $46.11. Janux Therapeutics has a 1-year low of $7.79 and a 1-year high of $65.60. The stock has a market capitalization of $2.55 billion, a P/E ratio of -39.76 and a beta of 3.52.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.18). Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The business had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. The company's quarterly revenue was down 82.6% compared to the same quarter last year. On average, sell-side analysts predict that Janux Therapeutics will post -1.34 earnings per share for the current year.

Insider Buying and Selling at Janux Therapeutics

In other news, Director Ra Capital Management, L.P. purchased 1,200,000 shares of the firm's stock in a transaction dated Friday, October 18th. The shares were purchased at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the completion of the acquisition, the director now owns 9,317,246 shares in the company, valued at $416,946,758.50. This trade represents a 14.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction on Friday, September 27th. The shares were sold at an average price of $46.31, for a total value of $1,157,750.00. Following the sale, the chief executive officer now directly owns 307,054 shares of the company's stock, valued at $14,219,670.74. This represents a 7.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 420,610 shares of company stock valued at $19,288,666. Company insiders own 29.40% of the company's stock.

Institutional Trading of Janux Therapeutics

Large investors have recently modified their holdings of the business. Janus Henderson Group PLC boosted its holdings in shares of Janux Therapeutics by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,965,546 shares of the company's stock worth $73,961,000 after purchasing an additional 34,069 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Janux Therapeutics during the 1st quarter valued at about $739,000. Virtu Financial LLC purchased a new stake in Janux Therapeutics in the first quarter worth about $609,000. Vanguard Group Inc. boosted its position in Janux Therapeutics by 38.6% during the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company's stock valued at $51,127,000 after acquiring an additional 378,477 shares in the last quarter. Finally, Blue Owl Capital Holdings LP bought a new position in shares of Janux Therapeutics in the 2nd quarter worth approximately $1,676,000. Institutional investors own 75.39% of the company's stock.

About Janux Therapeutics

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.