Janux Therapeutics (NASDAQ:JANX) Coverage Initiated by Analysts at Raymond James Financial

Equities researchers at Raymond James Financial assumed coverage on shares of Janux Therapeutics (NASDAQ:JANX - Get Free Report) in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage set an "outperform" rating and a $65.00 price target on the stock. Raymond James Financial's price objective indicates a potential upside of 153.81% from the stock's previous close.

Janux Therapeutics Price Performance

NASDAQ JANX opened at $25.61 on Friday. The stock has a market capitalization of $1.52 billion, a P/E ratio of -18.83 and a beta of 2.86. The business has a 50 day simple moving average of $24.77 and a 200 day simple moving average of $32.61. Janux Therapeutics has a one year low of $22.48 and a one year high of $71.71.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.05. Equities analysts expect that Janux Therapeutics will post -1.38 earnings per share for the current year.

Insider Activity at Janux Therapeutics

In other news, insider Andrew Hollman Meyer sold 3,333 shares of the firm's 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 completion of the sale, the insider owned 82,139 shares of the company's stock, valued at $2,630,912.17. This trade represents a 3.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 8.10% of the stock is currently owned by company insiders.

Institutional Trading of Janux Therapeutics

Several large investors have recently modified their holdings of JANX. Charles Schwab Investment Management Inc. grew its position in shares of Janux Therapeutics by 16.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 273,135 shares of the company's stock worth $14,624,000 after buying an additional 38,944 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Janux Therapeutics in the 4th quarter worth $1,353,000. Arizona State Retirement System lifted its holdings in shares of Janux Therapeutics by 95.4% in the 4th quarter. Arizona State Retirement System now owns 11,670 shares of the company's stock worth $625,000 after purchasing an additional 5,697 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Janux Therapeutics by 94.3% in the 4th quarter. Swiss National Bank now owns 79,100 shares of the company's stock worth $4,235,000 after purchasing an additional 38,400 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Janux Therapeutics by 492.2% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 205,167 shares of the company's stock worth $10,771,000 after purchasing an additional 170,520 shares in the last quarter. Institutional investors and hedge funds own 75.39% of the company's stock.

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.

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