Janux Therapeutics (NASDAQ:JANX) Stock Rating Upgraded by Lifesci Capital

Janux Therapeutics (NASDAQ:JANX) was upgraded by Lifesci Capital to a “strong-buy” rating in a note issued to investors on Friday,Zacks.com reports.

A number of other brokerages have also commented on JANX. HC Wainwright upped their target price on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Scotiabank increased their price objective on shares of Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 4th. Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. UBS Group began coverage on shares of Janux Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target for the company. Finally, William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Janux Therapeutics has an average rating of “Buy” and an average price target of $89.90.

Janux Therapeutics Stock Performance

JANX opened at $54.10 on Friday. Janux Therapeutics has a 52-week low of $7.79 and a 52-week high of $71.71. The stock has a 50-day moving average of $54.43 and a 200-day moving average of $47.46. The company has a market cap of $2.84 billion, a PE ratio of -46.24 and a beta of 3.29.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly 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). The company had revenue of $0.44 million during the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. Janux Therapeutics’s revenue was down 82.6% on a year-over-year basis. On average, research analysts predict that Janux Therapeutics will post -1.35 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $50.02, for a total value of $92,186.86. Following the completion of the sale, the insider now owns 6,371 shares in the company, valued at $318,677.42. This represents a 22.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ra Capital Management, L.P. bought 1,200,000 shares of Janux Therapeutics stock in a transaction on 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 completion of the acquisition, the director now owns 9,317,246 shares of the company’s stock, valued at approximately $416,946,758.50. This represents a 14.78 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 92,801 shares of company stock valued at $5,174,735 over the last ninety days. Insiders own 29.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in JANX. Plato Investment Management Ltd lifted its position in Janux Therapeutics by 18.7% in the 3rd quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock valued at $54,000 after acquiring an additional 187 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after purchasing an additional 339 shares during the last quarter. Amalgamated Bank lifted its position in shares of Janux Therapeutics by 61.1% in the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after purchasing an additional 368 shares in the last quarter. Virtu Financial LLC boosted its holdings in Janux Therapeutics by 48.0% during the third quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock worth $339,000 after purchasing an additional 2,419 shares during the last quarter. Finally, Zacks Investment Management increased its stake in Janux Therapeutics by 8.7% in the 3rd quarter. Zacks Investment Management now owns 42,133 shares of the company’s stock valued at $1,914,000 after buying an additional 3,360 shares during the last quarter. 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.