Janux Therapeutics (NASDAQ:JANX) Research Coverage Started at Barclays

Barclays started coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a report published on Tuesday morning, Marketbeat.com reports. The firm issued an overweight rating and a $47.00 target price on the stock.

A number of other research firms have also recently commented on JANX. Truist Financial initiated coverage on shares of Janux Therapeutics in a report on Wednesday, September 10th. They issued a “buy” rating and a $100.00 price target on the stock. Piper Sandler started coverage on shares of Janux Therapeutics in a report on Monday, August 18th. They issued an “overweight” rating and a $42.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Janux Therapeutics in a research note on Wednesday, September 10th. Guggenheim started coverage on shares of Janux Therapeutics in a research note on Wednesday, September 3rd. They issued a “buy” rating and a $72.00 price objective for the company. Finally, Raymond James Financial started coverage on shares of Janux Therapeutics in a research note on Friday, July 11th. They issued an “outperform” rating and a $65.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Janux Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $78.31.

Janux Therapeutics Trading Up 4.0%

NASDAQ JANX opened at $24.40 on Tuesday. The company’s 50-day moving average price is $24.48 and its 200-day moving average price is $26.14. The stock has a market cap of $1.47 billion, a PE ratio of -13.56 and a beta of 2.84. Janux Therapeutics has a 12 month low of $21.97 and a 12 month high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.07). As a group, sell-side analysts forecast that Janux Therapeutics will post -1.38 earnings per share for the current year.

Institutional Investors Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of JANX. RA Capital Management L.P. lifted its position in Janux Therapeutics by 7.9% during the first quarter. RA Capital Management L.P. now owns 11,189,693 shares of the company’s stock valued at $302,122,000 after acquiring an additional 824,041 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Janux Therapeutics by 19.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 3,654,574 shares of the company’s stock valued at $98,673,000 after acquiring an additional 592,824 shares during the last quarter. Wellington Management Group LLP lifted its position in Janux Therapeutics by 3,592.9% during the fourth quarter. Wellington Management Group LLP now owns 535,396 shares of the company’s stock valued at $28,665,000 after acquiring an additional 520,898 shares during the last quarter. Orbimed Advisors LLC lifted its position in Janux Therapeutics by 59.6% during the second quarter. Orbimed Advisors LLC now owns 1,210,300 shares of the company’s stock valued at $27,958,000 after acquiring an additional 451,734 shares during the last quarter. Finally, First Light Asset Management LLC raised its position in shares of Janux Therapeutics by 110.0% in the 1st quarter. First Light Asset Management LLC now owns 658,824 shares of the company’s stock valued at $17,788,000 after purchasing an additional 345,042 shares during the last quarter. Hedge funds and other institutional investors own 75.39% of the company’s stock.

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.