Janux Therapeutics (NASDAQ:JANX) Upgraded by Truist Financial to Strong-Buy Rating

Janux Therapeutics (NASDAQ:JANX) was upgraded by equities researchers at Truist Financial to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts also recently issued reports about the company. JonesTrading decreased their target price on Janux Therapeutics from $50.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Barclays lowered Janux Therapeutics from an “overweight” rating to an “underweight” rating and cut their price target for the stock from $29.00 to $14.00 in a report on Monday, April 20th. Guggenheim reduced their price target on Janux Therapeutics from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Cantor Fitzgerald reduced their price target on Janux Therapeutics from $150.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Finally, Weiss Ratings upgraded Janux Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Janux Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $49.75.

Janux Therapeutics Price Performance

NASDAQ:JANX opened at $14.42 on Monday. The business has a fifty day simple moving average of $14.29 and a two-hundred day simple moving average of $17.72. Janux Therapeutics has a 1 year low of $12.12 and a 1 year high of $35.34. The company has a market capitalization of $879.04 million, a P/E ratio of -7.88 and a beta of 2.58.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Thursday, February 26th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.14. The firm had revenue of $7.88 million during the quarter, compared to analysts’ expectations of $0.08 million. As a group, analysts anticipate that Janux Therapeutics will post -2.34 earnings per share for the current year.

Hedge Funds Weigh In On Janux Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its position in Janux Therapeutics by 1.1% during the second quarter. California State Teachers Retirement System now owns 37,139 shares of the company’s stock worth $858,000 after buying an additional 404 shares in the last quarter. Nuveen LLC grew its position in Janux Therapeutics by 0.8% during the fourth quarter. Nuveen LLC now owns 96,416 shares of the company’s stock worth $1,331,000 after buying an additional 787 shares in the last quarter. Congress Asset Management Co. grew its position in Janux Therapeutics by 2.8% during the fourth quarter. Congress Asset Management Co. now owns 57,342 shares of the company’s stock worth $791,000 after buying an additional 1,569 shares in the last quarter. ProShare Advisors LLC grew its position in Janux Therapeutics by 18.3% during the fourth quarter. ProShare Advisors LLC now owns 10,495 shares of the company’s stock worth $145,000 after buying an additional 1,621 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its position in Janux Therapeutics by 20.0% during the third quarter. Kennedy Capital Management LLC now owns 11,413 shares of the company’s stock worth $279,000 after buying an additional 1,905 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

About Janux Therapeutics

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.