Janux Therapeutics (NASDAQ:JANX) Receives New Coverage from Analysts at Jonestrading

Jonestrading assumed coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a report released on Tuesday, Benzinga reports. The firm issued a buy rating and a $70.00 price target on the stock.

JANX has been the topic of a number of other reports. Cantor Fitzgerald started coverage on Janux Therapeutics in a research report on Wednesday, March 20th. They set an overweight rating and a $100.00 target price on the stock. BTIG Research began coverage on Janux Therapeutics in a research report on Thursday, March 21st. They set a buy rating and a $62.00 target price on the stock. Wedbush reissued an outperform rating and issued a $53.00 price objective on shares of Janux Therapeutics in a report on Monday, March 11th. Bank of America boosted their price objective on Janux Therapeutics from $24.00 to $48.00 and gave the company a buy rating in a report on Wednesday, March 13th. Finally, William Blair reissued an outperform rating on shares of Janux Therapeutics in a report on Tuesday, February 27th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Janux Therapeutics has an average rating of Buy and an average price target of $61.33.

Janux Therapeutics Stock Performance

Shares of NASDAQ JANX opened at $50.55 on Tuesday. Janux Therapeutics has a 1 year low of $5.65 and a 1 year high of $58.69. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -37.72 and a beta of 4.19. The stock’s 50-day simple moving average is $32.84 and its 200-day simple moving average is $17.39.

Janux Therapeutics (NASDAQ:JANX) last announced its earnings results on Friday, March 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.12. Janux Therapeutics had a negative return on equity of 17.88% and a negative net margin of 721.18%. The business had revenue of $2.46 million for the quarter, compared to analyst estimates of $0.98 million. As a group, research analysts predict that Janux Therapeutics will post -1.41 EPS for the current year.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Janux Therapeutics by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 47,690 shares of the company’s stock valued at $628,000 after purchasing an additional 1,127 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Janux Therapeutics by 4.5% during the first quarter. Rhumbline Advisers now owns 26,849 shares of the company’s stock worth $325,000 after buying an additional 1,158 shares during the period. State of Wisconsin Investment Board boosted its position in shares of Janux Therapeutics by 14.3% during the second quarter. State of Wisconsin Investment Board now owns 13,202 shares of the company’s stock worth $157,000 after buying an additional 1,647 shares during the period. American International Group Inc. boosted its position in shares of Janux Therapeutics by 25.3% during the first quarter. American International Group Inc. now owns 8,813 shares of the company’s stock worth $126,000 after buying an additional 1,782 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Janux Therapeutics by 149.4% during the first quarter. Tower Research Capital LLC TRC now owns 3,344 shares of the company’s stock worth $40,000 after buying an additional 2,003 shares during the period. 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.