Janux Therapeutics, Inc. (NASDAQ:JANX) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Janux Therapeutics received an average analyst rating of “Moderate Buy” from 14 brokerages, with a consensus 1-year price target of about $38.08.
• Several analysts recently cut targets, including Barclays lowering its rating to underweight and reducing its price target to $14, while others like Wedbush and Piper Sandler also trimmed expectations.
• Insiders have been selling shares, and the stock was down about 2.5% to $15.33; the company also reported a smaller-than-expected quarterly loss, though revenue came in below estimates.

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) has received an average recommendation of "Moderate Buy" from the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $38.0833.

A number of equities analysts have recently issued reports on JANX shares. Evercore set a $22.00 price objective on shares of Janux Therapeutics in a research report on Monday, May 11th. Wedbush cut their price target on Janux Therapeutics from $45.00 to $36.00 and set an "outperform" rating on the stock in a report on Friday, May 8th. JonesTrading reduced their price objective on Janux Therapeutics from $50.00 to $28.00 and set a "buy" rating for the company in a research note on Tuesday, April 28th. Barclays downgraded Janux Therapeutics from an "overweight" rating to an "underweight" rating and decreased their price objective for the company from $29.00 to $14.00 in a report on Monday, April 20th. Finally, Piper Sandler lowered their target price on Janux Therapeutics from $30.00 to $26.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, VP Maria Dobek sold 2,038 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $14.17, for a total transaction of $28,878.46. Following the transaction, the vice president owned 32,270 shares in the company, valued at approximately $457,265.90. This represents a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Janeen Noel Doyle sold 4,059 shares of Janux Therapeutics stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $14.03, for a total transaction of $56,947.77. Following the transaction, the insider owned 75,941 shares of the company's stock, valued at $1,065,452.23. This represents a 5.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 7.90% of the company's stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhenman & Partners Asset Management AB raised its stake in shares of Janux Therapeutics by 125.1% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 225,377 shares of the company's stock worth $3,110,000 after purchasing an additional 125,250 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Janux Therapeutics during the fourth quarter valued at approximately $536,000. Y Intercept Hong Kong Ltd bought a new stake in Janux Therapeutics during the first quarter worth $1,946,000. SG Americas Securities LLC grew its holdings in Janux Therapeutics by 175.1% during the fourth quarter. SG Americas Securities LLC now owns 79,817 shares of the company's stock worth $1,101,000 after buying an additional 50,802 shares in the last quarter. Finally, Profund Advisors LLC raised its position in Janux Therapeutics by 289.5% in the 4th quarter. Profund Advisors LLC now owns 64,022 shares of the company's stock valued at $884,000 after buying an additional 47,584 shares during the last quarter. Institutional investors and hedge funds own 75.39% of the company's stock.

Janux Therapeutics Stock Down 2.5%

NASDAQ:JANX opened at $15.33 on Friday. Janux Therapeutics has a twelve month low of $12.12 and a twelve month high of $35.34. The company has a fifty day moving average of $14.81 and a 200-day moving average of $14.33. The firm has a market capitalization of $934.82 million, a P/E ratio of -8.33 and a beta of 2.52.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.13. The company had revenue of $3.73 million for the quarter, compared to the consensus estimate of $4.36 million. On average, analysts anticipate that Janux Therapeutics will post -1.7 EPS for the current fiscal year.

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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