Janux Therapeutics’ (JANX) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Janux Therapeutics (NASDAQ:JANX) in a research report sent to investors on Tuesday morning,RTT News reports. The firm currently has a $45.00 price target on the stock, down from their prior price target of $76.00.

Several other research analysts have also issued reports on the company. Guggenheim assumed coverage on Janux Therapeutics in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $72.00 price target on the stock. Bank of America cut their target price on Janux Therapeutics from $58.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Janux Therapeutics in a research report on Wednesday, October 8th. HC Wainwright lowered their price target on Janux Therapeutics from $70.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Piper Sandler started coverage on shares of Janux Therapeutics in a research report on Monday, August 18th. They issued an “overweight” rating and a $42.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Janux Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

Janux Therapeutics Price Performance

Shares of NASDAQ:JANX opened at $15.86 on Tuesday. The stock has a market cap of $953.98 million, a price-to-earnings ratio of -9.44 and a beta of 2.82. The company has a 50 day moving average of $27.15 and a 200-day moving average of $25.37. Janux Therapeutics has a one year low of $15.77 and a one year high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.21. The business had revenue of $10.00 million during the quarter, compared to the consensus estimate of $3.07 million. Equities research analysts anticipate that Janux Therapeutics will post -1.38 earnings per share for the current year.

Insider Activity

In other news, insider Andrew Hollman Meyer sold 3,333 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $30.00, for a total transaction of $99,990.00. Following the sale, the insider owned 84,974 shares of the company’s stock, valued at $2,549,220. This trade represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 29.40% of the stock is owned by company insiders.

Institutional Trading of Janux Therapeutics

A number of large investors have recently bought and sold shares of JANX. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Janux Therapeutics by 26.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,125 shares of the company’s stock valued at $192,000 after buying an additional 1,488 shares in the last quarter. US Bancorp DE lifted its position in Janux Therapeutics by 2,402.9% in the 1st quarter. US Bancorp DE now owns 1,727 shares of the company’s stock valued at $47,000 after acquiring an additional 1,658 shares in the last quarter. Vanguard Group Inc. lifted its position in Janux Therapeutics by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 2,278,660 shares of the company’s stock valued at $61,524,000 after acquiring an additional 142,328 shares in the last quarter. Deutsche Bank AG boosted its stake in Janux Therapeutics by 7.2% in the 1st quarter. Deutsche Bank AG now owns 99,691 shares of the company’s stock worth $2,692,000 after purchasing an additional 6,662 shares during the period. Finally, Nuveen LLC bought a new position in Janux Therapeutics during the 1st quarter worth about $3,339,000. 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.