Janux Therapeutics, Inc. (NASDAQ:JANX) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Janux Therapeutics has a “Moderate Buy” consensus rating from 15 analysts, including 10 buys, one strong buy, two holds, and two sells. The average 12-month price target is $36.46, versus the stock’s recent price of $17.10.
• Institutional investors and hedge funds own 75.39% of the company, with several investors increasing their positions during the second quarter, including California State Teachers Retirement System, which raised its stake by more than 2,000%.
• Janux reported weaker-than-expected quarterly results, posting a loss of $0.35 per share versus the projected $0.25 loss and revenue of $10.27 million compared with expectations of $19.07 million. The clinical-stage biotech is developing tumor-activated T-cell engager therapies designed to target cancer while limiting harm to healthy tissue.

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fifteen ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $36.4615.

Several equities research analysts have recently commented on the stock. Truist Financial reiterated a "buy" rating and set a $26.00 price target (down from $80.00) on shares of Janux Therapeutics in a research report on Thursday, June 25th. TD Cowen raised shares of Janux Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th. Stifel Nicolaus set a $35.00 target price on shares of Janux Therapeutics in a report on Friday, August 7th. Guggenheim lowered their target price on shares of Janux Therapeutics from $58.00 to $55.00 and set a "buy" rating for the company in a report on Friday, August 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Janux Therapeutics in a research report on Monday, July 20th.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors have recently made changes to their positions in JANX. WINTON GROUP Ltd lifted its stake in Janux Therapeutics by 31.8% in the second quarter. WINTON GROUP Ltd now owns 90,300 shares of the company's stock valued at $1,387,000 after buying an additional 21,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Janux Therapeutics during the 2nd quarter worth about $174,000. California State Teachers Retirement System increased its stake in shares of Janux Therapeutics by 2,014.3% in the 2nd quarter. California State Teachers Retirement System now owns 782,316 shares of the company's stock valued at $12,016,000 after acquiring an additional 745,315 shares during the last quarter. Raiffeisen Bank International AG increased its stake in shares of Janux Therapeutics by 9.1% in the 2nd quarter. Raiffeisen Bank International AG now owns 60,000 shares of the company's stock valued at $920,000 after acquiring an additional 5,000 shares during the last quarter. Finally, AXQ Capital LP raised its position in shares of Janux Therapeutics by 109.0% in the 2nd quarter. AXQ Capital LP now owns 47,508 shares of the company's stock valued at $730,000 after acquiring an additional 24,777 shares during the period. 75.39% of the stock is owned by institutional investors and hedge funds.

Janux Therapeutics Price Performance

Janux Therapeutics stock opened at $17.10 on Monday. The business's 50-day simple moving average is $16.95 and its 200 day simple moving average is $15.24. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -10.43 and a beta of 2.53. Janux Therapeutics has a 12-month low of $12.12 and a 12-month high of $35.34.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.10). The business had revenue of $10.27 million during the quarter, compared to analysts' expectations of $19.07 million. As a group, sell-side analysts expect that Janux Therapeutics will post -1.7 EPS for the current year.

Janux Therapeutics Company Profile

Janux Therapeutics, Inc NASDAQ: JANX is a clinical-stage biotechnology company developing immunotherapies designed to activate the body's T cells against cancer while limiting activity in healthy tissues. The company's approach is intended to address challenges associated with conventional T-cell engagers, including systemic toxicity and limited tolerability.

Janux's programs are based on its Tumor Activated T Cell Engager (TRACTr) platform. These therapeutic molecules are designed to remain inactive in circulation and become activated within the tumor microenvironment, where they can direct T cells to recognize and attack cancer cells.

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