Leerink Partnrs Upgrades Janux Therapeutics (NASDAQ:JANX) to Strong-Buy

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

Several other research firms have also recently commented on JANX. Leerink Partners initiated coverage on shares of Janux Therapeutics in a report on Friday. They set an “outperform” rating and a $79.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research note on Thursday, November 7th. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a report on Thursday, November 14th. Wedbush reaffirmed an “outperform” rating and set 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 set a $63.00 price objective on shares of Janux Therapeutics in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $67.70.

Janux Therapeutics Trading Up 8.2 %

Janux Therapeutics stock opened at $50.31 on Friday. The firm has a market capitalization of $2.64 billion, a P/E ratio of -43.00 and a beta of 3.52. The stock’s fifty day simple moving average is $50.07 and its 200-day simple moving average is $45.92. Janux Therapeutics has a twelve month low of $7.79 and a twelve month high of $65.60.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The company had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. The firm’s quarterly revenue was down 82.6% on a year-over-year basis. Sell-side analysts predict that Janux Therapeutics will post -1.34 earnings per share for the current year.

Insider Activity

In other news, major shareholder Ventures Xi L.P. Avalon sold 958 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $46.24, for a total transaction of $44,297.92. Following the completion of the sale, the insider now owns 6,887 shares in the company, valued at approximately $318,454.88. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $53.54, for a total value of $1,338,500.00. Following the transaction, the chief executive officer now directly owns 282,054 shares in the company, valued at approximately $15,101,171.16. This represents a 8.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 420,610 shares of company stock valued at $19,288,666. Insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new stake in shares of Janux Therapeutics during the second quarter worth approximately $29,000. Amalgamated Bank increased its stake in Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after buying an additional 368 shares during the period. Plato Investment Management Ltd purchased a new position in Janux Therapeutics during the 2nd quarter worth $42,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Janux Therapeutics by 21.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after acquiring an additional 339 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Janux Therapeutics in the second quarter valued at about $151,000. 75.39% of the stock is owned by institutional investors and hedge funds.

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.