Janux Therapeutics (NASDAQ:JANX) Stock Price Expected to Rise, Scotiabank Analyst Says

Janux Therapeutics (NASDAQ:JANX) had its price target boosted by Scotiabank from $42.00 to $62.00 in a report issued on Wednesday,Benzinga reports. They currently have a sector perform rating on the stock.

JANX has been the subject of several other reports. Leerink Partners boosted their target price on shares of Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a research report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a report on Thursday, August 8th. HC Wainwright lifted their price target on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $79.90.

Janux Therapeutics Price Performance

Janux Therapeutics stock opened at $64.99 on Wednesday. The firm has a market cap of $3.41 billion, a PE ratio of -56.67 and a beta of 3.29. The stock’s fifty day moving average price is $50.60 and its two-hundred day moving average price is $46.10. Janux Therapeutics has a one year low of $7.79 and a one year high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.18). The company had revenue of $0.44 million for the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. Janux Therapeutics’s quarterly revenue was down 82.6% on a year-over-year basis. Sell-side analysts expect that Janux Therapeutics will post -1.35 earnings per share for the current fiscal year.

Insider Transactions at Janux Therapeutics

In other Janux Therapeutics news, CEO David Alan Campbell sold 15,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 of the company’s stock, valued at approximately $16,217,618. This represents a 5.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ventures Xi L.P. Avalon sold 158,031 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $47.00, for a total transaction of $7,427,457.00. Following the sale, the insider now owns 2,959,175 shares of the company’s stock, valued at approximately $139,081,225. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 352,245 shares of company stock worth $17,032,336. Insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Several hedge funds have recently modified their holdings of JANX. Vanguard Group Inc. lifted its holdings in shares of Janux Therapeutics by 38.6% in the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after purchasing an additional 378,477 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Janux Therapeutics during the first quarter worth $739,000. DNB Asset Management AS bought a new position in shares of Janux Therapeutics in the second quarter valued at $221,000. SG Americas Securities LLC acquired a new position in shares of Janux Therapeutics during the second quarter valued at about $1,452,000. Finally, 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. Institutional investors own 75.39% of the company’s stock.

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.