Janux Therapeutics (NASDAQ:JANX) Price Target Lowered to $41.00 at Scotiabank

Janux Therapeutics (NASDAQ:JANX) had its price objective dropped by analysts at Scotiabank from $62.00 to $41.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 24.66% from the company’s previous close.

Several other research firms also recently issued reports on JANX. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a report on Friday, January 10th. Stifel Nicolaus lifted their price objective on Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Wedbush restated an “outperform” rating and set a $76.00 price objective (up from $75.00) on shares of Janux Therapeutics in a report on Friday. Leerink Partners boosted their price target on Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, HC Wainwright boosted their price target on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $88.00.

Janux Therapeutics Price Performance

Janux Therapeutics stock traded up $0.88 during midday trading on Friday, hitting $32.89. 979,853 shares of the company were exchanged, compared to its average volume of 1,025,086. The company’s fifty day moving average price is $44.22 and its 200-day moving average price is $47.83. The company has a market cap of $1.73 billion, a PE ratio of -28.11 and a beta of 3.16. Janux Therapeutics has a fifty-two week low of $31.69 and a fifty-two week high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. On average, analysts expect that Janux Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO David Alan Campbell sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $56.19, for a total transaction of $1,404,750.00. Following the completion of the transaction, the chief executive officer now directly owns 217,054 shares in the company, valued at $12,196,264.26. This represents a 10.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Hollman Meyer sold 13,334 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $54.88, for a total value of $731,769.92. Following the transaction, the insider now owns 82,139 shares of the company’s stock, valued at approximately $4,507,788.32. The trade was a 13.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,668 shares of company stock worth $3,582,515 in the last three months. 29.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JANX. RA Capital Management L.P. boosted its position in Janux Therapeutics by 13.1% during the 4th quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company’s stock worth $554,977,000 after acquiring an additional 1,200,000 shares during the period. Paradigm Biocapital Advisors LP boosted its position in Janux Therapeutics by 46.5% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company’s stock worth $188,246,000 after acquiring an additional 1,115,412 shares during the period. Janus Henderson Group PLC boosted its position in Janux Therapeutics by 41.2% during the 4th quarter. Janus Henderson Group PLC now owns 3,562,402 shares of the company’s stock worth $190,617,000 after acquiring an additional 1,038,996 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in Janux Therapeutics by 47.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company’s stock worth $163,926,000 after acquiring an additional 986,750 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Janux Therapeutics by 596.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,109,978 shares of the company’s stock worth $59,429,000 after acquiring an additional 950,557 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.