Janux Therapeutics, Inc. (NASDAQ:JANX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Janux Therapeutics, Inc. (NASDAQ:JANX) has received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $66.29.

A number of brokerages have recently weighed in on JANX. Wedbush lifted their target price on shares of Janux Therapeutics from $53.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. HC Wainwright lifted their target price on shares of Janux Therapeutics from $50.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Jonestrading began coverage on shares of Janux Therapeutics in a research note on Tuesday, April 16th. They set a “buy” rating and a $70.00 target price on the stock. Scotiabank began coverage on shares of Janux Therapeutics in a research note on Thursday, May 30th. They set a “sector perform” rating and a $47.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research note on Thursday, May 9th.

Insiders Place Their Bets

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $37,081,025.25. Following the sale, the insider now owns 3,271,216 shares in the company, valued at $179,099,076. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Jay Lichter sold 1,500,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total transaction of $82,125,000.00. Following the sale, the director now owns 633,673 shares in the company, valued at $34,693,596.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total transaction of $37,081,025.25. Following the sale, the insider now owns 3,271,216 shares in the company, valued at approximately $179,099,076. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,000,000 shares of company stock worth $164,250,000. 35.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of Janux Therapeutics during the second quarter valued at approximately $29,000. Bank of New York Mellon Corp grew its holdings in shares of Janux Therapeutics by 136.3% during the second quarter. Bank of New York Mellon Corp now owns 115,027 shares of the company’s stock valued at $4,818,000 after buying an additional 66,340 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Janux Therapeutics during the second quarter valued at approximately $1,452,000. DNB Asset Management AS purchased a new stake in shares of Janux Therapeutics during the second quarter valued at approximately $221,000. Finally, Virtu Financial LLC purchased a new stake in shares of Janux Therapeutics during the first quarter valued at approximately $609,000. Hedge funds and other institutional investors own 75.39% of the company’s stock.

Janux Therapeutics Trading Up 2.9 %

JANX stock opened at $43.99 on Wednesday. The firm’s 50-day moving average price is $43.67 and its two-hundred day moving average price is $36.68. Janux Therapeutics has a 12-month low of $5.65 and a 12-month high of $65.60. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -36.06 and a beta of 3.58.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Janux Therapeutics had a negative net margin of 762.92% and a negative return on equity of 13.49%. The firm had revenue of $1.25 million for the quarter, compared to analysts’ expectations of $0.98 million. Equities analysts predict that Janux Therapeutics will post -1.34 EPS for the current year.

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.