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

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) has earned a consensus rating of "Buy" from the eleven ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $95.25.

Several research firms have issued reports on JANX. HC Wainwright restated a "buy" rating and issued a $70.00 price objective on shares of Janux Therapeutics in a research note on Monday, March 3rd. Wedbush restated an "outperform" rating and issued a $76.00 price target (up previously from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. Finally, Scotiabank reduced their price objective on shares of Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th.

Janux Therapeutics Stock Performance

JANX traded up $0.88 during trading on Friday, reaching $23.60. 1,107,702 shares of the stock were exchanged, compared to its average volume of 867,159. The stock's 50 day moving average price is $26.67 and its two-hundred day moving average price is $35.98. Janux Therapeutics has a twelve month low of $22.48 and a twelve month high of $71.71. The stock has a market cap of $1.40 billion, a P/E ratio of -17.35 and a beta of 2.96.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.05. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 9.29%. Equities research analysts predict that Janux Therapeutics will post -1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 3,333 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $32.03, for a total transaction of $106,755.99. Following the transaction, the insider now owns 82,139 shares in the company, valued at $2,630,912.17. This represents a 3.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in Janux Therapeutics by 1,574.0% during the 1st quarter. GAMMA Investing LLC now owns 1,674 shares of the company's stock worth $45,000 after acquiring an additional 1,574 shares during the period. US Bancorp DE lifted its position in shares of Janux Therapeutics by 2,402.9% during the 1st quarter. US Bancorp DE now owns 1,727 shares of the company's stock valued at $47,000 after acquiring an additional 1,658 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Janux Therapeutics by 77.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock worth $54,000 after purchasing an additional 442 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Janux Therapeutics in the fourth quarter worth $59,000. Finally, FNY Investment Advisers LLC increased its position in shares of Janux Therapeutics by 6,928.6% in the first quarter. FNY Investment Advisers LLC now owns 2,460 shares of the company's stock worth $66,000 after purchasing an additional 2,425 shares during the period. 75.39% of the stock is currently owned by institutional investors and hedge funds.

About Janux Therapeutics

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.