Janux Therapeutics (NASDAQ:JANX) Raised to Strong-Buy at TD Cowen

Key Points

• TD Cowen upgraded Janux Therapeutics to “strong buy,” while the broader analyst consensus remains “moderate buy” with an average price target of $36.46.
• Janux shares opened at $18.60, above their 50-day and 200-day moving averages, but remain well below the 52-week high of $35.34. The company has a market capitalization of approximately $1.14 billion.
• Recent quarterly results fell short of expectations: Janux reported a loss of $0.35 per share versus the projected $0.25 loss and revenue of $10.27 million versus the $19.07 million consensus estimate.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) was upgraded by equities research analysts at TD Cowen to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Several other equities analysts also recently commented on JANX. Evercore set a $22.00 target price on Janux Therapeutics in a research report on Monday, May 11th. JonesTrading reduced their price target on Janux Therapeutics from $50.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, April 28th. Guggenheim lowered their price objective on Janux Therapeutics from $58.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, August 7th. Piper Sandler dropped their price objective on shares of Janux Therapeutics from $30.00 to $26.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Finally, Stifel Nicolaus set a $35.00 target price on shares of Janux Therapeutics in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.46.

Janux Therapeutics Stock Performance

Shares of NASDAQ:JANX opened at $18.60 on Monday. The company has a fifty day moving average of $15.76 and a 200-day moving average of $14.67. The company has a market capitalization of $1.14 billion, a PE ratio of -11.34 and a beta of 2.50. Janux Therapeutics has a 52-week low of $12.12 and a 52-week high of $35.34.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.10). The firm had revenue of $10.27 million during the quarter, compared to the consensus estimate of $19.07 million. On average, equities analysts forecast that Janux Therapeutics will post -1.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Janux Therapeutics news, insider Janeen Noel Doyle sold 4,059 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $14.03, for a total value of $56,947.77. Following the sale, the insider owned 75,941 shares in the company, valued at approximately $1,065,452.23. The trade was a 5.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in JANX. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Janux Therapeutics in the 4th quarter valued at $34,000. Versant Capital Management Inc increased its position in shares of Janux Therapeutics by 42.8% during the second quarter. Versant Capital Management Inc now owns 2,615 shares of the company's stock worth $40,000 after buying an additional 784 shares during the period. Osaic Holdings Inc. raised its stake in Janux Therapeutics by 704.6% during the second quarter. Osaic Holdings Inc. now owns 3,468 shares of the company's stock worth $80,000 after buying an additional 3,037 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Janux Therapeutics during the fourth quarter worth $51,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Janux Therapeutics by 175.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,928 shares of the company's stock valued at $91,000 after buying an additional 2,502 shares during the period. Institutional investors own 75.39% of the company's stock.

Janux Therapeutics Company Profile

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.

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