Janux Therapeutics (NASDAQ:JANX) Rating Increased to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Janux Therapeutics (NASDAQ:JANX) to a strong-buy rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other research analysts have also recently issued reports on JANX. Scotiabank decreased their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a report on Friday, August 9th. UBS Group assumed coverage on shares of Janux Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target for the company. Leerink Partners assumed coverage on shares of Janux Therapeutics in a report on Friday. They issued an “outperform” rating and a $79.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $74.00 price target on shares of Janux Therapeutics in a report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $63.00 price target on shares of Janux Therapeutics in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Janux Therapeutics currently has an average rating of “Buy” and an average target price of $67.70.

Janux Therapeutics Stock Up 8.2 %

NASDAQ:JANX opened at $50.31 on Friday. Janux Therapeutics has a 52 week low of $7.79 and a 52 week high of $65.60. The firm has a 50 day moving average of $50.07 and a 200 day moving average of $46.03. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -43.00 and a beta of 3.52.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The firm had revenue of $0.44 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 82.6% compared to the same quarter last year. As a group, analysts expect that Janux Therapeutics will post -1.34 EPS for the current year.

Insider Transactions at Janux Therapeutics

In other news, Director Ra Capital Management, L.P. purchased 1,200,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the completion of the transaction, the director now owns 9,317,246 shares in the company, valued at $416,946,758.50. This represents a 14.78 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Ventures Xi L.P. Avalon sold 158,031 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $47.00, for a total transaction of $7,427,457.00. Following the sale, the insider now owns 2,959,175 shares in the company, valued at approximately $139,081,225. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 420,610 shares of company stock worth $19,288,666 over the last 90 days. 29.40% of the stock is currently owned by company insiders.

Institutional Trading of Janux Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JANX. Summit Securities Group LLC acquired a new stake in shares of Janux Therapeutics in the second quarter valued at about $29,000. Amalgamated Bank grew 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 valued at $41,000 after purchasing an additional 368 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of Janux Therapeutics in the second quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. grew its position 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 period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Janux Therapeutics in the second quarter valued at about $151,000. 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.