Janux Therapeutics (NASDAQ:JANX) Receives Outperform Rating from Wedbush

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research note issued to investors on Friday,RTT News reports. They presently have a $76.00 price objective on the stock. Wedbush’s price objective would indicate a potential upside of 187.01% from the stock’s current price.

Several other analysts also recently commented on JANX. Piper Sandler initiated coverage on shares of Janux Therapeutics in a research report on Monday, August 18th. They set an “overweight” rating and a $42.00 price objective for the company. Barclays raised their price target on shares of Janux Therapeutics from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Wednesday, October 8th. Raymond James Financial began coverage on shares of Janux Therapeutics in a research report on Friday, July 11th. They set an “outperform” rating and a $65.00 price objective on the stock. Finally, Guggenheim began coverage on Janux Therapeutics in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $72.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.17.

Janux Therapeutics Stock Performance

Shares of JANX stock traded down $2.18 during mid-day trading on Friday, hitting $26.48. The company’s stock had a trading volume of 1,750,098 shares, compared to its average volume of 1,196,176. The company has a market cap of $1.59 billion, a PE ratio of -15.76 and a beta of 2.83. The company’s fifty day simple moving average is $25.11 and its 200-day simple moving average is $25.27. Janux Therapeutics has a 52 week low of $21.73 and a 52 week high of $71.71.

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

Insiders Place Their Bets

In related news, insider Andrew Hollman Meyer sold 16,665 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $30.06, for a total value of $500,949.90. Following the transaction, the insider owned 82,139 shares of the company’s stock, valued at approximately $2,469,098.34. This trade represents a 16.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.10% of the company’s stock.

Institutional Trading of Janux Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its holdings in shares of Janux Therapeutics by 2,402.9% in the first quarter. US Bancorp DE now owns 1,727 shares of the company’s stock valued at $47,000 after purchasing an additional 1,658 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Janux Therapeutics by 704.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,468 shares of the company’s stock valued at $80,000 after acquiring an additional 3,037 shares in the last quarter. Virtus Investment Advisers LLC boosted its holdings in Janux Therapeutics by 37.9% during the 2nd quarter. Virtus Investment Advisers LLC now owns 3,679 shares of the company’s stock worth $85,000 after acquiring an additional 1,011 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Janux Therapeutics by 175.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,928 shares of the company’s stock worth $91,000 after acquiring an additional 2,502 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Janux Therapeutics by 25.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,020 shares of the company’s stock valued at $93,000 after purchasing an additional 820 shares during the last quarter. 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.