Scotiabank Lowers Janux Therapeutics (NASDAQ:JANX) Price Target to $41.00

Janux Therapeutics (NASDAQ:JANX) had its price target lowered by equities research analysts at Scotiabank from $62.00 to $41.00 in a report released on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 24.66% from the company’s current price.

JANX has been the subject of several other research reports. HC Wainwright upped their target price on Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. BTIG Research upped their target price on Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Leerink Partners upped their target price on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of Janux Therapeutics in a research note on Wednesday, December 11th. Finally, Leerink Partnrs upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $88.00.

Janux Therapeutics Trading Up 2.7 %

JANX stock opened at $32.89 on Friday. The stock has a 50-day moving average price of $43.75 and a two-hundred day moving average price of $47.88. Janux Therapeutics has a 12-month low of $31.69 and a 12-month high of $71.71. The company has a market cap of $1.73 billion, a PE ratio of -28.11 and a beta of 3.16.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. Equities analysts forecast that Janux Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Activity

In related news, insider Andrew Hollman Meyer sold 13,334 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $54.88, for a total value of $731,769.92. Following the completion of the transaction, the insider now directly owns 82,139 shares of the company’s stock, valued at $4,507,788.32. This represents a 13.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Alan Campbell sold 15,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $67.00, for a total value of $1,005,000.00. Following the transaction, the chief executive officer now directly owns 242,054 shares of the company’s stock, valued at approximately $16,217,618. The trade was a 5.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,668 shares of company stock valued at $3,582,515. 29.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of JANX. Plato Investment Management Ltd lifted its position in shares of Janux Therapeutics by 18.7% during 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 during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Janux Therapeutics by 77.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock valued at $54,000 after purchasing an additional 442 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Janux Therapeutics in the fourth quarter valued at $59,000. Mirae Asset Global Investments Co. Ltd. lifted 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 in the last quarter. Finally, Avanza Fonder AB purchased a new stake in shares of Janux Therapeutics in the fourth quarter valued at $139,000. 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.