Janux Therapeutics (NASDAQ:JANX) Now Covered by Analysts at Guggenheim

Key Points

• Guggenheim has initiated coverage of Janux Therapeutics (NASDAQ:JANX) with a "buy" rating, indicating a positive outlook for the stock.
• Analysts have given a consensus rating of "Buy" with an average target price of $85.55, reflecting strong interest among investment analysts.
• Janux Therapeutics is currently valued at a market cap of $1.44 billion and is expected to report earnings of -$1.38 per share for the fiscal year.

Guggenheim started coverage on shares of Janux Therapeutics (NASDAQ:JANX - Free Report) in a research report sent to investors on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $72.00 price objective on the stock.

A number of other equities analysts also recently weighed in on JANX. Piper Sandler initiated coverage on shares of Janux Therapeutics in a research note on Monday, August 18th. They set an "overweight" rating and a $42.00 target price for the company. Raymond James Financial initiated coverage on shares of Janux Therapeutics in a research report on Friday, July 11th. They set an "outperform" rating and a $65.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $85.55.

Janux Therapeutics Stock Up 3.5%

Shares of NASDAQ JANX traded up $0.83 on Wednesday, reaching $24.81. 1,221,636 shares of the company's stock traded hands, compared to its average volume of 663,439. Janux Therapeutics has a 12 month low of $21.97 and a 12 month high of $71.71. The business's 50 day simple moving average is $24.56 and its two-hundred day simple moving average is $26.53. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -13.78 and a beta of 2.84.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.07). Analysts forecast that Janux Therapeutics will post -1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Janux Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Janux Therapeutics by 1,574.0% in the first quarter. GAMMA Investing LLC now owns 1,674 shares of the company's stock worth $45,000 after purchasing an additional 1,574 shares during the last quarter. US Bancorp DE boosted its holdings in Janux Therapeutics by 2,402.9% in the first quarter. US Bancorp DE now owns 1,727 shares of the company's stock worth $47,000 after purchasing an additional 1,658 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Janux Therapeutics in the fourth quarter worth approximately $59,000. FNY Investment Advisers LLC boosted its stake in shares of Janux Therapeutics by 6,928.6% during the 1st quarter. FNY Investment Advisers LLC now owns 2,460 shares of the company's stock worth $66,000 after acquiring an additional 2,425 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of Janux Therapeutics during the 1st quarter worth $66,000. Hedge funds and other institutional investors 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.