Brokerages Set Janux Therapeutics, Inc. (NASDAQ:JANX) Price Target at $91.89

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) have been assigned a consensus recommendation of "Buy" from the twelve research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $91.89.

Separately, Raymond James Financial started coverage on shares of Janux Therapeutics in a research note on Friday, July 11th. They set an "outperform" rating and a $65.00 price objective for the company.

Insiders Place Their Bets

In related news, insider Andrew Hollman Meyer sold 3,333 shares of Janux Therapeutics stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $32.03, for a total value of $106,755.99. Following the completion of the sale, the insider owned 82,139 shares of the company's stock, valued at approximately $2,630,912.17. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.10% of the stock is owned by corporate insiders.

Institutional Trading of Janux Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. lifted its position in shares of Janux Therapeutics by 13.1% during the 4th quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company's stock valued at $554,977,000 after buying an additional 1,200,000 shares in the last quarter. Paradigm Biocapital Advisors LP lifted its stake in shares of Janux Therapeutics by 46.5% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company's stock worth $188,246,000 after purchasing an additional 1,115,412 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Janux Therapeutics by 41.2% during the 4th quarter. Janus Henderson Group PLC now owns 3,562,402 shares of the company's stock worth $190,617,000 after purchasing an additional 1,038,996 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Janux Therapeutics by 47.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company's stock valued at $163,926,000 after buying an additional 986,750 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Janux Therapeutics by 596.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,109,978 shares of the company's stock valued at $59,429,000 after buying an additional 950,557 shares during the last quarter. Hedge funds and other institutional investors own 75.39% of the company's stock.

Janux Therapeutics Stock Performance

JANX traded up $0.60 during trading on Wednesday, hitting $27.60. 471,927 shares of the stock were exchanged, compared to its average volume of 872,754. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -20.27 and a beta of 2.86. Janux Therapeutics has a 1 year low of $22.48 and a 1 year high of $71.71. The firm has a 50 day simple moving average of $24.57 and a 200 day simple moving average of $31.80.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.43) by $0.05. As a group, equities analysts anticipate that Janux Therapeutics will post -1.38 earnings per share for the current fiscal year.

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.