Janux Therapeutics (NASDAQ:JANX) Given New $41.00 Price Target at Scotiabank

Janux Therapeutics (NASDAQ:JANX) had its target price lowered by Scotiabank from $62.00 to $41.00 in a report released on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

Other analysts have also recently issued research reports about the company. BTIG Research increased their target price on Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Leerink Partners increased their target price on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Lifesci Capital upgraded Janux Therapeutics to a “strong-buy” rating in a report on Friday, December 27th. Stifel Nicolaus increased their target price on Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Leerink Partnrs upgraded Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Janux Therapeutics has a consensus rating of “Buy” and an average price target of $88.00.

Janux Therapeutics Price Performance

Janux Therapeutics stock opened at $32.89 on Friday. The stock has a fifty day moving average price of $43.75 and a two-hundred day moving average price of $47.81. Janux Therapeutics has a 52-week low of $31.69 and a 52-week high of $71.71. The firm has a market capitalization of $1.73 billion, a P/E ratio of -28.11 and a beta of 3.16.

Janux Therapeutics (NASDAQ:JANX) last announced its earnings results on Thursday, February 27th. The company reported ($0.36) 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, equities research analysts predict that Janux Therapeutics will post -1.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 3,334 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.29, for a total transaction of $140,994.86. Following the transaction, the insider now owns 82,139 shares in the company, valued at approximately $3,473,658.31. This trade represents a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Alan Campbell sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the chief executive officer now owns 293,054 shares in the company, valued at approximately $17,583,240. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,668 shares of company stock worth $3,582,515. Insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Hedge funds have recently modified their holdings of the business. Plato Investment Management Ltd raised its position in shares of Janux Therapeutics by 18.7% during the third quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock worth $54,000 after purchasing an additional 187 shares during the period. Russell Investments Group Ltd. raised its position in shares of Janux Therapeutics by 77.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock worth $54,000 after purchasing an additional 442 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Janux Therapeutics during the fourth quarter worth about $59,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Janux Therapeutics by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after purchasing an additional 339 shares during the period. Finally, Avanza Fonder AB acquired a new stake in shares of Janux Therapeutics during the fourth quarter worth about $139,000. Institutional investors and hedge funds 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.