Janux Therapeutics (NASDAQ:JANX) Stock Rating Upgraded by Leerink Partnrs

Janux Therapeutics (NASDAQ:JANX - Get Free Report) was upgraded by equities researchers at Leerink Partnrs to a "strong-buy" rating in a report issued on Friday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. UBS Group assumed coverage on shares of Janux Therapeutics in a research note on Thursday, October 24th. They issued a "buy" rating and a $69.00 target price for the company. Stifel Nicolaus started coverage on shares of Janux Therapeutics in a research note on Friday, September 6th. They issued a "buy" rating and a $70.00 price objective on the stock. Leerink Partners assumed coverage on shares of Janux Therapeutics in a research note on Friday. They issued an "outperform" rating and a $79.00 price objective on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday, November 7th. Finally, Scotiabank cut 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 report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $67.70.

Janux Therapeutics Stock Up 8.2 %

JANX opened at $50.31 on Friday. Janux Therapeutics has a 12 month low of $7.79 and a 12 month high of $65.60. The company has a fifty day simple moving average of $50.07 and a 200 day simple moving average of $46.03. The stock has a market cap of $2.64 billion, a P/E ratio of -43.00 and a beta of 3.52.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (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 firm had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. The company's revenue was down 82.6% on a year-over-year basis. On average, equities research analysts expect that Janux Therapeutics will post -1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the company's stock in a transaction 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 owns 3,162,851 shares in the company, valued at approximately $132,839,742. This represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 1,200,000 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The shares were acquired at an average cost of $44.75 per share, for a total transaction of $53,700,000.00. Following the purchase, the director now owns 9,317,246 shares of the company's stock, valued at $416,946,758.50. This represents a 14.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 420,610 shares of company stock valued at $19,288,666 over the last quarter. Corporate insiders own 29.40% of the company's stock.

Institutional Investors Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Janux Therapeutics by 0.6% in the 3rd quarter. FMR LLC now owns 7,824,675 shares of the company's stock valued at $355,475,000 after buying an additional 47,075 shares in the last quarter. Janus Henderson Group PLC raised its position in Janux Therapeutics by 40.0% during the 3rd quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company's stock worth $114,587,000 after buying an additional 721,563 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 378,477 shares in the last quarter. Logos Global Management LP increased its holdings in shares of Janux Therapeutics by 400.0% during the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company's stock valued at $31,418,000 after purchasing an additional 600,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Janux Therapeutics by 6.2% in the 3rd quarter. Geode Capital Management LLC now owns 662,594 shares of the company's stock valued at $30,107,000 after acquiring an additional 38,490 shares during the period. Hedge funds and other 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.

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