Janux Therapeutics (NASDAQ:JANX) Given New $49.00 Price Target at Bank of America

Janux Therapeutics (NASDAQ:JANX) had its price target reduced by Bank of America from $58.00 to $49.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on JANX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Janux Therapeutics in a report on Wednesday, October 8th. Cantor Fitzgerald reduced their target price on shares of Janux Therapeutics from $200.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday. Guggenheim initiated coverage on shares of Janux Therapeutics in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $72.00 target price for the company. Truist Financial assumed coverage on shares of Janux Therapeutics in a research note on Wednesday, September 10th. They set a “buy” rating and a $100.00 price target on the stock. Finally, HC Wainwright reduced their price objective on shares of Janux Therapeutics from $70.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.67.

Janux Therapeutics Stock Down 53.3%

Janux Therapeutics stock opened at $15.86 on Tuesday. Janux Therapeutics has a 12 month low of $15.77 and a 12 month high of $71.71. The stock has a market cap of $953.98 million, a P/E ratio of -9.44 and a beta of 2.82. The company’s fifty day simple moving average is $27.15 and its 200-day simple moving average is $25.37.

Janux Therapeutics (NASDAQ:JANX) last released 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 firm had revenue of $10.00 million for the quarter, compared to analyst estimates of $3.07 million. On average, equities research analysts expect that Janux Therapeutics will post -1.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Andrew Hollman Meyer sold 3,333 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $30.00, for a total value of $99,990.00. Following the transaction, the insider directly owned 84,974 shares in the company, valued at approximately $2,549,220. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Hedge funds have recently bought and sold shares of the company. RA Capital Management L.P. increased its stake in shares of Janux Therapeutics by 7.9% in the first quarter. RA Capital Management L.P. now owns 11,189,693 shares of the company’s stock worth $302,122,000 after purchasing an additional 824,041 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in Janux Therapeutics by 19.4% during the 1st 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 purchasing an additional 592,824 shares during the period. Orbimed Advisors LLC boosted its stake in Janux Therapeutics by 45.9% during the 3rd quarter. Orbimed Advisors LLC now owns 1,766,100 shares of the company’s stock valued at $43,163,000 after purchasing an additional 555,800 shares during the period. First Light Asset Management LLC grew its holdings in 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 buying an additional 345,042 shares during the last quarter. Finally, MPM Bioimpact LLC grew its holdings in Janux Therapeutics by 146.6% in the 1st quarter. MPM Bioimpact LLC now owns 567,193 shares of the company’s stock valued at $15,314,000 after buying an additional 337,193 shares during the last quarter. 75.39% of the stock is currently owned by institutional investors.

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.