Janux Therapeutics’ (JANX) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Janux Therapeutics (NASDAQ:JANX) in a report issued on Tuesday,Benzinga reports. They currently have a $70.00 price target on the stock.

JANX has been the subject of a number of other research reports. Wedbush restated an “outperform” rating and set a $76.00 price objective on shares of Janux Therapeutics in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Wednesday, October 8th. Wolfe Research started coverage on Janux Therapeutics in a report on Tuesday, November 18th. They set a “peer perform” rating for the company. Barclays lifted their price objective on Janux Therapeutics from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Truist Financial initiated coverage on Janux Therapeutics in a report on Wednesday, September 10th. They set a “buy” rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.17.

Janux Therapeutics Price Performance

Shares of JANX opened at $34.69 on Tuesday. The firm has a market cap of $2.09 billion, a P/E ratio of -20.65 and a beta of 2.83. Janux Therapeutics has a 1 year low of $21.73 and a 1 year high of $71.71. The company has a 50 day simple moving average of $26.86 and a two-hundred day simple moving average of $25.28.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.21. The company had revenue of $10.00 million for the quarter, compared to the consensus estimate of $3.07 million. On average, sell-side analysts anticipate that Janux Therapeutics will post -1.38 earnings per share for the current year.

Insider Transactions at Janux Therapeutics

In other news, insider Andrew Hollman Meyer sold 3,333 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $30.00, for a total value of $99,990.00. Following the completion of the sale, the insider directly owned 84,974 shares of the company’s stock, valued at $2,549,220. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

Several large investors have recently modified their holdings of the stock. RA Capital Management L.P. lifted its position in Janux Therapeutics by 7.9% in the first quarter. RA Capital Management L.P. now owns 11,189,693 shares of the company’s stock worth $302,122,000 after buying an additional 824,041 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Janux Therapeutics by 19.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,654,574 shares of the company’s stock valued at $98,673,000 after acquiring an additional 592,824 shares during the period. Orbimed Advisors LLC lifted its holdings in shares of Janux Therapeutics by 45.9% in the 3rd quarter. Orbimed Advisors LLC now owns 1,766,100 shares of the company’s stock worth $43,163,000 after acquiring an additional 555,800 shares during the last quarter. First Light Asset Management LLC lifted its holdings in shares of Janux Therapeutics by 110.0% in the 1st quarter. First Light Asset Management LLC now owns 658,824 shares of the company’s stock worth $17,788,000 after acquiring an additional 345,042 shares during the last quarter. Finally, MPM Bioimpact LLC boosted its stake in shares of Janux Therapeutics by 146.6% during the 1st quarter. MPM Bioimpact LLC now owns 567,193 shares of the company’s stock worth $15,314,000 after purchasing an additional 337,193 shares during the period. Institutional investors 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.