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

Janux Therapeutics, Inc. (NASDAQ:JANX) has been assigned a consensus recommendation of “Buy” from the thirteen research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $89.90.

A number of equities analysts have recently commented on the stock. Leerink Partners raised their target price on shares of Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. HC Wainwright raised their target price on shares of Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. UBS Group started coverage on shares of Janux Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $69.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of Janux Therapeutics in a report on Wednesday, December 11th. Finally, Scotiabank lifted their price target on shares of Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a report on Wednesday, December 4th.

Janux Therapeutics Stock Down 2.2 %

Janux Therapeutics stock opened at $36.37 on Friday. The firm has a fifty day moving average of $48.79 and a 200-day moving average of $48.08. Janux Therapeutics has a 52-week low of $8.28 and a 52-week high of $71.71. The firm has a market capitalization of $1.91 billion, a P/E ratio of -31.09 and a beta of 3.16.

Insiders Place Their Bets

In related news, insider Andrew Hollman Meyer sold 3,334 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.29, for a total value of $140,994.86. Following the sale, the insider now directly owns 82,139 shares in the company, valued at $3,473,658.31. The trade was a 3.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Alan Campbell sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $67.00, for a total transaction of $1,005,000.00. Following the completion of the sale, the chief executive officer now owns 242,054 shares in the company, valued at $16,217,618. The trade was a 5.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,668 shares of company stock worth $4,872,515. 29.40% of the stock is owned by corporate insiders.

Institutional Trading of Janux Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in JANX. Dimensional Fund Advisors LP raised its holdings in shares of Janux Therapeutics by 54.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 24,019 shares of the company’s stock worth $1,005,000 after purchasing an additional 8,422 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Janux Therapeutics in the second quarter worth approximately $215,000. The Manufacturers Life Insurance Company increased its position in shares of Janux Therapeutics by 234.7% in the second quarter. The Manufacturers Life Insurance Company now owns 24,048 shares of the company’s stock worth $1,007,000 after acquiring an additional 16,864 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after acquiring an additional 339 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Janux Therapeutics by 639.5% in the third quarter. Nisa Investment Advisors LLC now owns 20,343 shares of the company’s stock worth $924,000 after acquiring an additional 17,592 shares in the last quarter. 75.39% of the stock is currently 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.