Brokerages Set Janux Therapeutics, Inc. (NASDAQ:JANX) Price Target at $66.44

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) has been given a consensus rating of "Moderate Buy" by the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $66.44.

Several brokerages recently issued reports on JANX. HC Wainwright reissued a "buy" rating and issued a $63.00 price objective on shares of Janux Therapeutics in a research note on Monday, August 19th. Wedbush restated an "outperform" rating and set a $74.00 price objective on shares of Janux Therapeutics in a research report on Thursday, August 8th. 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 target price on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $100.00 target price on shares of Janux Therapeutics in a report on Monday, September 16th. Finally, Scotiabank decreased 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.

Insider Activity at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 50,000 shares of the company's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $45.96, for a total value of $2,298,000.00. Following the sale, the insider now owns 67,592 shares in the company, valued at $3,106,528.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 50,000 shares of the firm's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $45.96, for a total transaction of $2,298,000.00. Following the sale, the insider now directly owns 67,592 shares of the company's stock, valued at $3,106,528.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ra Capital Management, L.P. purchased 1,200,000 shares of the company's stock in a transaction dated Friday, October 18th. The shares were acquired at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the purchase, the director now directly owns 9,317,246 shares of the company's stock, valued at approximately $416,946,758.50. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 420,610 shares of company stock worth $19,288,666 in the last ninety days. Company insiders own 29.40% of the company's stock.

Institutional Investors Weigh In On Janux Therapeutics

Large investors have recently made changes to their positions in the company. Janus Henderson Group PLC raised its position 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 valued at $73,961,000 after acquiring an additional 34,069 shares during the period. Vanguard Group Inc. boosted its stake in Janux Therapeutics by 38.6% during the first quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company's stock valued at $51,127,000 after buying an additional 378,477 shares during the period. Logos Global Management LP increased its holdings in shares of Janux Therapeutics by 400.0% in the second quarter. Logos Global Management LP now owns 750,000 shares of the company's stock worth $31,418,000 after buying an additional 600,000 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of Janux Therapeutics in the 1st quarter worth approximately $20,420,000. Finally, Samlyn Capital LLC increased its stake in shares of Janux Therapeutics by 9.6% in the 2nd quarter. Samlyn Capital LLC now owns 324,703 shares of the company's stock worth $13,602,000 after purchasing an additional 28,312 shares in the last quarter. Institutional investors and hedge funds own 75.39% of the company's stock.

Janux Therapeutics Price Performance

Shares of NASDAQ:JANX traded up $0.40 during midday trading on Friday, reaching $54.39. The company's stock had a trading volume of 572,912 shares, compared to its average volume of 712,335. Janux Therapeutics has a fifty-two week low of $5.65 and a fifty-two week high of $65.60. The company has a market capitalization of $2.84 billion, a P/E ratio of -58.63 and a beta of 3.54. The business's fifty day simple moving average is $47.92 and its 200-day simple moving average is $46.17.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.20. Janux Therapeutics had a negative net margin of 291.17% and a negative return on equity of 8.78%. The firm had revenue of $8.90 million for the quarter, compared to the consensus estimate of $0.77 million. The business's revenue was up 709.1% on a year-over-year basis. On average, analysts forecast that Janux Therapeutics will post -1.18 earnings per share for the current fiscal year.

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.