Janux Therapeutics (NASDAQ:JANX) Research Coverage Started at Stifel Nicolaus

Analysts at Stifel Nicolaus initiated coverage on shares of Janux Therapeutics (NASDAQ:JANX - Get Free Report) in a report released on Friday, MarketBeat.com reports. The firm set a "buy" rating and a $70.00 price target on the stock. Stifel Nicolaus' target price points to a potential upside of 69.66% from the stock's current price.

Several other brokerages have also weighed in on JANX. Wedbush reaffirmed an "outperform" rating and set a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. Scotiabank cut their target price 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. Cantor Fitzgerald restated an "overweight" rating and set a $100.00 price target on shares of Janux Therapeutics in a research note on Thursday, August 8th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $63.00 price objective on shares of Janux Therapeutics in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $66.13.

Janux Therapeutics Stock Performance

Shares of NASDAQ JANX traded down $2.45 during midday trading on Friday, reaching $41.26. 874,619 shares of the stock were exchanged, compared to its average volume of 724,581. Janux Therapeutics has a twelve month low of $5.65 and a twelve month high of $65.60. The stock has a market capitalization of $2.14 billion, a P/E ratio of -35.83 and a beta of 3.57. The company has a 50 day simple moving average of $42.20 and a 200 day simple moving average of $42.87.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its 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. The company had revenue of $8.90 million for the quarter, compared to the consensus estimate of $0.77 million. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The company's quarterly revenue was up 709.1% compared to the same quarter last year. On average, research analysts expect that Janux Therapeutics will post -1.17 earnings per share for the current year.

Hedge Funds Weigh In On Janux Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. purchased a new position in Janux Therapeutics during the 2nd quarter worth $5,715,000. Blue Owl Capital Holdings LP purchased a new position in Janux Therapeutics during the second quarter worth about $1,676,000. The Manufacturers Life Insurance Company lifted its position in Janux Therapeutics by 234.7% in the second quarter. The Manufacturers Life Insurance Company now owns 24,048 shares of the company's stock valued at $1,007,000 after purchasing an additional 16,864 shares during the period. AQR Capital Management LLC purchased a new stake in Janux Therapeutics in the 2nd quarter valued at approximately $215,000. Finally, Samlyn Capital LLC increased its position in Janux Therapeutics by 9.6% during 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 during the period. Institutional investors and hedge funds own 75.39% of the company's stock.

Janux Therapeutics Company Profile

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.