Janux Therapeutics (NASDAQ:JANX) Coverage Initiated at Jonestrading

Jonestrading began coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a research report released on Tuesday morning, Benzinga reports. The firm issued a buy rating and a $70.00 price objective on the stock.

A number of other equities research analysts have also issued reports on JANX. Wedbush reaffirmed an outperform rating and set a $53.00 target price on shares of Janux Therapeutics in a research report on Monday, March 11th. William Blair reaffirmed an outperform rating on shares of Janux Therapeutics in a research report on Tuesday, February 27th. BTIG Research assumed coverage on Janux Therapeutics in a research report on Thursday, March 21st. They set a buy rating and a $62.00 target price on the stock. Cantor Fitzgerald assumed coverage on Janux Therapeutics in a research report on Wednesday, March 20th. They set an overweight rating and a $100.00 price target on the stock. Finally, Bank of America upped their price target on Janux Therapeutics from $24.00 to $48.00 and gave the company a buy rating in a research report on Wednesday, March 13th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $61.33.

Janux Therapeutics Stock Up 1.9 %

Shares of Janux Therapeutics stock opened at $48.85 on Tuesday. The business has a fifty day simple moving average of $34.41 and a 200-day simple moving average of $17.82. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -36.46 and a beta of 4.18. Janux Therapeutics has a fifty-two week low of $5.65 and a fifty-two week high of $58.69.

Janux Therapeutics (NASDAQ:JANX) last announced its earnings results on Friday, March 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.12. The company had revenue of $2.46 million for the quarter, compared to analyst estimates of $0.98 million. Janux Therapeutics had a negative return on equity of 17.88% and a negative net margin of 721.18%. Analysts anticipate that Janux Therapeutics will post -1.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. FMR LLC increased its position in Janux Therapeutics by 25.5% in the 3rd quarter. FMR LLC now owns 6,351,322 shares of the company’s stock worth $64,021,000 after purchasing an additional 1,288,526 shares during the last quarter. RA Capital Management L.P. increased its position in Janux Therapeutics by 5.7% in the 3rd quarter. RA Capital Management L.P. now owns 9,165,652 shares of the company’s stock worth $92,390,000 after purchasing an additional 495,008 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Janux Therapeutics by 27.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock worth $11,592,000 after purchasing an additional 250,000 shares during the last quarter. Vanguard Group Inc. increased its position in Janux Therapeutics by 23.7% in the 3rd quarter. Vanguard Group Inc. now owns 942,281 shares of the company’s stock worth $9,498,000 after purchasing an additional 180,291 shares during the last quarter. Finally, BlackRock Inc. increased its position in Janux Therapeutics by 15.2% in the 1st quarter. BlackRock Inc. now owns 1,161,721 shares of the company’s stock worth $16,659,000 after purchasing an additional 153,460 shares during the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.

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.