Janux Therapeutics (NASDAQ:JANX) Coverage Initiated at 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.

Stock analysts at Truist Financial initiated coverage on shares of Janux Therapeutics (NASDAQ:JANX - Get Free Report) in a report released on Wednesday, MarketBeat reports. The brokerage set a "buy" rating and a $100.00 price target on the stock. Truist Financial's price objective suggests a potential upside of 326.93% from the company's previous close.

JANX has been the topic of a number of other reports. Raymond James Financial began coverage on shares of Janux Therapeutics in a report on Friday, July 11th. They set an "outperform" rating and a $65.00 target price on the stock. Stifel Nicolaus reaffirmed a "buy" rating and set a $45.00 target price on shares of Janux Therapeutics in a research report on Wednesday, September 10th. Guggenheim began coverage on Janux Therapeutics in a report on Wednesday, September 3rd. They set a "buy" rating and a $72.00 target price on the stock. Finally, Piper Sandler initiated coverage on Janux Therapeutics in a research note on Monday, August 18th. They issued an "overweight" rating and a $42.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Janux Therapeutics currently has a consensus rating of "Buy" and an average target price of $80.92.

Janux Therapeutics Trading Down 2.6%

NASDAQ:JANX traded down $0.63 on Wednesday, hitting $23.42. The company had a trading volume of 245,955 shares, compared to its average volume of 909,205. Janux Therapeutics has a 52 week low of $21.97 and a 52 week high of $71.71. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -13.10 and a beta of 2.84. The firm has a 50 day moving average of $24.58 and a two-hundred day moving average of $26.30.

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

Hedge Funds Weigh In On Janux Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of JANX. California State Teachers Retirement System grew its position in shares of Janux Therapeutics by 1.1% during the 2nd quarter. California State Teachers Retirement System now owns 37,139 shares of the company's stock worth $858,000 after buying an additional 404 shares during the period. Avanza Fonder AB boosted its stake in Janux Therapeutics by 17.0% during the first quarter. Avanza Fonder AB now owns 3,049 shares of the company's stock worth $86,000 after acquiring an additional 444 shares in the last quarter. New York State Common Retirement Fund increased its stake in Janux Therapeutics by 3.0% in the first quarter. New York State Common Retirement Fund now owns 16,435 shares of the company's stock valued at $444,000 after purchasing an additional 471 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Janux Therapeutics by 20.4% in the first quarter. Exchange Traded Concepts LLC now owns 4,043 shares of the company's stock worth $109,000 after acquiring an additional 686 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in Janux Therapeutics by 6.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,855 shares of the company's stock valued at $320,000 after purchasing an additional 727 shares during the period. 75.39% of the stock is currently owned by institutional investors.

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.