Janux Therapeutics (NASDAQ:JANX) Earns Outperform Rating from William Blair

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “outperform” rating reiterated by William Blair in a report issued on Friday,RTT News reports.

Other research analysts also recently issued research reports about the company. HC Wainwright boosted their price target on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Leerink Partners raised their target price on shares of Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. UBS Group started coverage on shares of Janux Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $69.00 price target for the company. Stifel Nicolaus lifted their price objective on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Leerink Partnrs raised Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Janux Therapeutics has an average rating of “Buy” and an average target price of $89.90.

Janux Therapeutics Stock Performance

NASDAQ:JANX opened at $46.76 on Friday. Janux Therapeutics has a 52 week low of $7.79 and a 52 week high of $71.71. The firm’s 50-day simple moving average is $54.26 and its 200 day simple moving average is $48.25. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -39.97 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last released 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 business had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The company’s revenue for the quarter was down 82.6% compared to the same quarter last year. Sell-side analysts anticipate that Janux Therapeutics will post -1.35 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $50.02, for a total value of $92,186.86. Following the transaction, the insider now directly owns 6,371 shares of the company’s stock, valued at $318,677.42. The trade was a 22.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Alan Campbell sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the sale, the chief executive officer now directly owns 293,054 shares of the company’s stock, valued at approximately $17,583,240. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,177 shares of company stock valued at $6,162,207 in the last ninety days. 29.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in Janux Therapeutics by 136.3% in the second quarter. Bank of New York Mellon Corp now owns 115,027 shares of the company’s stock valued at $4,818,000 after purchasing an additional 66,340 shares in the last quarter. Principal Financial Group Inc. bought a new position in Janux Therapeutics in the second quarter worth approximately $237,000. Rhumbline Advisers grew its stake in Janux Therapeutics by 41.2% in the second quarter. Rhumbline Advisers now owns 38,008 shares of the company’s stock valued at $1,592,000 after acquiring an additional 11,085 shares during the period. TD Asset Management Inc bought a new stake in shares of Janux Therapeutics during the second quarter valued at approximately $829,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Janux Therapeutics during the second quarter worth approximately $512,000. 75.39% of the stock is owned by institutional investors.

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.