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

Equities researchers at Leerink Partners assumed coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a report released on Friday, Marketbeat.com reports. The firm set an “outperform” rating and a $79.00 price target on the stock. Leerink Partners’ price objective would indicate a potential upside of 57.03% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Wedbush reissued an “outperform” rating and set a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. Scotiabank dropped 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 note on Friday, August 9th. Stifel Nicolaus began coverage on shares of Janux Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $70.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price target on shares of Janux Therapeutics in a research note on Thursday, November 7th. Finally, UBS Group started coverage on Janux Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $69.00 price objective on the stock. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $67.70.

Janux Therapeutics Trading Up 8.2 %

NASDAQ JANX opened at $50.31 on Friday. Janux Therapeutics has a 1 year low of $7.79 and a 1 year high of $65.60. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -43.00 and a beta of 3.52. The firm’s 50 day simple moving average is $50.07 and its 200 day simple moving average is $45.92.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. The firm’s revenue was down 82.6% on a year-over-year basis. On average, equities research analysts forecast that Janux Therapeutics will post -1.34 earnings per share for the current year.

Insider Buying and Selling at Janux Therapeutics

In related news, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction on Monday, October 28th. The shares were sold at an average price of $53.54, for a total transaction of $1,338,500.00. Following the completion of the transaction, the chief executive officer now owns 282,054 shares of the company’s stock, valued at $15,101,171.16. This trade represents a 8.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the insider now directly owns 3,162,851 shares in the company, valued at $132,839,742. This trade represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 420,610 shares of company stock worth $19,288,666. Insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its position in shares of 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 purchasing an additional 721,563 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. Vanguard Group Inc. raised its position 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 worth $51,127,000 after purchasing an additional 378,477 shares during the period. Point72 Asset Management L.P. raised its position in shares of Janux Therapeutics by 190.2% during the third quarter. Point72 Asset Management L.P. now owns 395,875 shares of the company’s stock worth $17,985,000 after purchasing an additional 259,445 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Janux Therapeutics by 202.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock valued at $10,639,000 after purchasing an additional 156,675 shares during the period. Institutional investors and hedge funds 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.