Janux Therapeutics (NASDAQ:JANX) Now Covered by Truist Financial

Key Points

• Truist Financial has initiated coverage on Janux Therapeutics with a "buy" rating and a price target of $100.00, suggesting a potential upside of 315.11% from the previous close.
• Other analysts have also rated Janux Therapeutics with positive outlooks, with a consensus average target price of $80.92 based on multiple "buy" ratings from several firms.
• Janux Therapeutics reported a quarterly loss of ($0.55) earnings per share, missing analysts' expectations, as they focus on developing immunotherapies for cancer treatment.

Research analysts at Truist Financial began coverage on shares of Janux Therapeutics (NASDAQ:JANX - Get Free Report) in a note issued to investors on Wednesday,Benzinga reports. The brokerage set a "buy" rating and a $100.00 price target on the stock. Truist Financial's price objective would suggest a potential upside of 315.11% from the company's previous close.

A number of other analysts have also commented on the company. Guggenheim initiated coverage on Janux Therapeutics in a report on Wednesday, September 3rd. They issued a "buy" rating and a $72.00 target price for the company. Piper Sandler initiated coverage on shares of Janux Therapeutics in a research report on Monday, August 18th. They set an "overweight" rating and a $42.00 price objective on the stock. 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 objective on the stock. Finally, Stifel Nicolaus restated a "buy" rating and set a $45.00 price objective on shares of Janux Therapeutics in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $80.92.

Janux Therapeutics Stock Up 1.3%

JANX stock opened at $24.09 on Wednesday. Janux Therapeutics has a twelve month low of $21.97 and a twelve month high of $71.71. The firm has a market cap of $1.45 billion, a PE ratio of -13.52 and a beta of 2.84. The business has a 50 day moving average of $24.57 and a 200 day moving average of $26.51.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings data 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). On average, research analysts expect that Janux Therapeutics will post -1.38 earnings per share for the current fiscal year.

Institutional Trading of Janux Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of JANX. Paradigm Biocapital Advisors LP increased its stake in shares of Janux Therapeutics by 46.5% in the fourth 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 in the last quarter. RA Capital Management L.P. lifted its position in shares of Janux Therapeutics by 7.9% in the first quarter. RA Capital Management L.P. now owns 11,189,693 shares of the company's stock valued at $302,122,000 after acquiring an additional 824,041 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Janux Therapeutics by 1,165.6% in the fourth quarter. Bank of America Corp DE now owns 794,761 shares of the company's stock valued at $42,552,000 after acquiring an additional 731,962 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Janux Therapeutics by 19.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,654,574 shares of the company's stock valued at $98,673,000 after acquiring an additional 592,824 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Janux Therapeutics by 3,592.9% in the fourth quarter. Wellington Management Group LLP now owns 535,396 shares of the company's stock valued at $28,665,000 after acquiring an additional 520,898 shares in the last quarter. 75.39% of the stock is owned by hedge funds and other institutional investors.

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.

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