Janux Therapeutics (NASDAQ:JANX) Shares Gap Up to $43.71

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $43.71, but opened at $44.68. Janux Therapeutics shares last traded at $43.38, with a volume of 36,009 shares changing hands.

Analysts Set New Price Targets

Several brokerages have issued reports on JANX. HC Wainwright reaffirmed a "buy" rating and set a $63.00 price target on shares of Janux Therapeutics in a report on Monday, August 19th. Wedbush reaffirmed an "outperform" rating and set a $74.00 price target on shares of Janux Therapeutics in a report on Thursday, August 8th. Stifel Nicolaus assumed coverage on Janux Therapeutics in a research report on Friday. They set a "buy" rating and a $70.00 price objective on the stock. Scotiabank lowered 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $100.00 price objective on shares of Janux Therapeutics in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Janux Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $66.13.

Janux Therapeutics Stock Down 5.6 %

The stock has a 50 day moving average price of $42.20 and a 200 day moving average price of $42.87. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -35.83 and a beta of 3.57.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.20. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The firm had revenue of $8.90 million for the quarter, compared to analyst estimates of $0.77 million. Janux Therapeutics's revenue was up 709.1% compared to the same quarter last year. Sell-side analysts forecast that Janux Therapeutics, Inc. will post -1.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its holdings in shares of Janux Therapeutics by 1.8% during the first 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 in the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 acquiring 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 second quarter. Logos Global Management LP now owns 750,000 shares of the company's stock valued at $31,418,000 after acquiring an additional 600,000 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Janux Therapeutics during the first quarter valued at approximately $20,420,000. Finally, Samlyn Capital LLC increased its holdings in shares of Janux Therapeutics by 9.6% during the second quarter. Samlyn Capital LLC now owns 324,703 shares of the company's stock valued at $13,602,000 after acquiring an additional 28,312 shares in the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.

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.