Guggenheim Lowers Janux Therapeutics (NASDAQ:JANX) Price Target to $68.00

Janux Therapeutics (NASDAQ:JANX) had its price target cut by research analysts at Guggenheim from $72.00 to $68.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price suggests a potential upside of 399.63% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Bank of America reduced their price objective on shares of Janux Therapeutics from $58.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Piper Sandler cut their target price on shares of Janux Therapeutics from $42.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, January 16th. Cantor Fitzgerald reduced their price target on shares of Janux Therapeutics from $200.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, December 2nd. Wall Street Zen raised shares of Janux Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Clear Str cut Janux Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.91.

Janux Therapeutics Trading Down 1.4%

Shares of JANX stock opened at $13.61 on Friday. The company has a market capitalization of $818.64 million, a P/E ratio of -7.44 and a beta of 2.88. The business’s 50 day moving average is $13.73 and its two-hundred day moving average is $20.71. Janux Therapeutics has a 12-month low of $12.12 and a 12-month high of $35.34.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.14. The business had revenue of $7.88 million during the quarter, compared to analysts’ expectations of $0.08 million. On average, research analysts predict that Janux Therapeutics will post -1.38 earnings per share for the current fiscal year.

Insider Activity at Janux Therapeutics

In other Janux Therapeutics news, insider Thomas Diraimondo sold 2,505 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $13.73, for a total value of $34,393.65. Following the completion of the sale, the insider owned 124,425 shares in the company, valued at approximately $1,708,355.25. This represents a 1.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Hollman Meyer sold 1,879 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $13.73, for a total value of $25,798.67. Following the transaction, the insider owned 83,095 shares in the company, valued at approximately $1,140,894.35. This represents a 2.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,366 shares of company stock worth $371,245 in the last 90 days. 8.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Janux Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JANX. Aristides Capital LLC acquired a new stake in shares of Janux Therapeutics in the 4th quarter worth $181,000. Invesco Ltd. boosted its position in shares of Janux Therapeutics by 15.7% during the 4th quarter. Invesco Ltd. now owns 28,322 shares of the company’s stock valued at $391,000 after acquiring an additional 3,853 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Janux Therapeutics in the fourth quarter valued at about $2,228,000. Virtus Investment Advisers LLC increased its position in Janux Therapeutics by 290.6% during the fourth quarter. Virtus Investment Advisers LLC now owns 17,388 shares of the company’s stock worth $240,000 after purchasing an additional 12,936 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Janux Therapeutics by 129.5% during the fourth quarter. Wellington Management Group LLP now owns 1,610,186 shares of the company’s stock worth $22,221,000 after purchasing an additional 908,582 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.

Janux Therapeutics Company Profile

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.