Cantor Fitzgerald Reaffirms Overweight Rating for Janux Therapeutics (NASDAQ:JANX)

Janux Therapeutics (NASDAQ:JANX)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research note issued on Thursday,Benzinga reports. They currently have a $100.00 target price on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 85.46% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and set a $63.00 target price on shares of Janux Therapeutics in a research note on Monday, August 19th. Wedbush restated an “outperform” rating and issued a $74.00 price target on shares of Janux Therapeutics in a report on Thursday, August 8th. Stifel Nicolaus began coverage on shares of Janux Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $70.00 price target for the company. UBS Group began coverage on shares of Janux Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target for the company. Finally, Scotiabank reduced their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Janux Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $66.44.

Janux Therapeutics Stock Performance

JANX stock opened at $53.92 on Thursday. The company has a fifty day moving average price of $49.02 and a 200-day moving average price of $46.39. The company has a market capitalization of $2.81 billion, a P/E ratio of -46.09 and a beta of 3.52. Janux Therapeutics has a 52-week low of $5.65 and a 52-week high of $65.60.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly 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 business had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.95%. The firm’s quarterly revenue was down 82.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Janux Therapeutics will post -1.18 earnings per share for the current fiscal year.

Insider Activity at Janux Therapeutics

In related news, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $53.54, for a total transaction of $1,338,500.00. Following the transaction, the chief executive officer now directly owns 282,054 shares of the company’s stock, valued at $15,101,171.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Ra Capital Management, L.P. acquired 1,200,000 shares of the stock in a transaction on Friday, October 18th. The shares were acquired at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the completion of the transaction, the director now owns 9,317,246 shares in the company, valued at approximately $416,946,758.50. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $53.54, for a total transaction of $1,338,500.00. Following the completion of the sale, the chief executive officer now directly owns 282,054 shares in the company, valued at approximately $15,101,171.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 420,610 shares of company stock valued at $19,288,666 over the last ninety days. Corporate insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Summit Securities Group LLC bought a new stake in shares of Janux Therapeutics in the second quarter valued at approximately $29,000. Amalgamated Bank grew its stake in Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after acquiring an additional 368 shares in the last quarter. Plato Investment Management Ltd purchased a new position in Janux Therapeutics during the second quarter valued at approximately $42,000. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 valued at $87,000 after acquiring an additional 339 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Janux Therapeutics during the second quarter valued at approximately $151,000. 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.