Janux Therapeutics (NASDAQ:JANX) Price Target Raised to $48.00

Janux Therapeutics (NASDAQ:JANX) had its target price lifted by Barclays from $47.00 to $48.00 in a research report report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

JANX has been the topic of several other research reports. Raymond James Financial started coverage on Janux Therapeutics in a research note on Friday, July 11th. They issued an “outperform” rating and a $65.00 target price on the stock. Piper Sandler began coverage on shares of Janux Therapeutics in a research report on Monday, August 18th. They issued an “overweight” rating and a $42.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Wednesday, October 8th. Guggenheim began coverage on shares of Janux Therapeutics in a research note on Wednesday, September 3rd. They issued a “buy” rating and a $72.00 target price for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 price target on shares of Janux Therapeutics in a report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.17.

Janux Therapeutics Stock Up 2.0%

NASDAQ JANX traded up $0.53 during trading on Friday, hitting $27.01. 210,546 shares of the stock traded hands, compared to its average volume of 936,069. Janux Therapeutics has a 12-month low of $21.73 and a 12-month high of $71.71. The company has a market capitalization of $1.62 billion, a P/E ratio of -16.05 and a beta of 2.83. The firm has a 50-day simple moving average of $25.11 and a 200-day simple moving average of $25.19.

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 the consensus estimate of ($0.60) by $0.21. The company had revenue of $10.00 million during the quarter, compared to analysts’ expectations of $3.07 million. As a group, research analysts predict that Janux Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 16,665 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $30.06, for a total value of $500,949.90. Following the completion of the transaction, the insider owned 82,139 shares in the company, valued at $2,469,098.34. This trade represents a 16.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 29.40% of the stock is owned by company insiders.

Institutional Trading of Janux Therapeutics

A number of hedge funds have recently modified their holdings of JANX. RA Capital Management L.P. raised its position in Janux Therapeutics by 7.9% during the first quarter. RA Capital Management L.P. now owns 11,189,693 shares of the company’s stock valued at $302,122,000 after acquiring an additional 824,041 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of 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 in the last quarter. Orbimed Advisors LLC lifted its stake in shares of Janux Therapeutics by 59.6% in the 2nd quarter. Orbimed Advisors LLC now owns 1,210,300 shares of the company’s stock valued at $27,958,000 after purchasing an additional 451,734 shares during the period. First Light Asset Management LLC boosted its holdings in Janux Therapeutics by 110.0% during the first quarter. First Light Asset Management LLC now owns 658,824 shares of the company’s stock worth $17,788,000 after buying an additional 345,042 shares in the last quarter. Finally, MPM Bioimpact LLC raised its stake in shares of Janux Therapeutics by 146.6% during the 1st quarter. MPM Bioimpact LLC now owns 567,193 shares of the company’s stock worth $15,314,000 after buying an additional 337,193 shares during the period. Hedge funds and other institutional investors 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.