Janux Therapeutics (NASDAQ:JANX) Now Covered by Barclays

Key Points

• Barclays has initiated coverage on Janux Therapeutics with an "overweight" rating, joining several other analysts who have also expressed positive outlooks on the stock.
• Janux Therapeutics shares have recently seen a 3% increase in value, reaching $24.18, with a consensus rating of "Buy" and a target price of $78.31.
• The company is focused on developing immunotherapies for cancer treatment, currently testing products like JANX007 and JANX008 in Phase 1 clinical trials.

Barclays assumed coverage on shares of Janux Therapeutics (NASDAQ:JANX - Free Report) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $47.00 target price on the stock.

A number of other brokerages also recently issued reports on JANX. Guggenheim assumed coverage on shares of Janux Therapeutics in a report on Wednesday, September 3rd. They set a "buy" rating and a $72.00 price target on the stock. Piper Sandler initiated coverage on shares of Janux Therapeutics in a report on Monday, August 18th. They set an "overweight" rating and a $42.00 price objective for the company. Stifel Nicolaus reaffirmed a "buy" rating and issued a $45.00 price target on shares of Janux Therapeutics in a report on Wednesday, September 10th. Truist Financial initiated coverage on shares of Janux Therapeutics in a research report on Wednesday, September 10th. They set a "buy" rating and a $100.00 target price on the stock. Finally, Raymond James Financial began 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 on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $78.31.

Janux Therapeutics Price Performance

JANX traded down $0.95 on Tuesday, hitting $23.45. The company had a trading volume of 2,359,160 shares, compared to its average volume of 560,076. Janux Therapeutics has a 52-week low of $21.97 and a 52-week high of $71.71. The stock has a fifty day simple moving average of $24.45 and a 200-day simple moving average of $26.06. The firm has a market capitalization of $1.41 billion, a P/E ratio of -13.03 and a beta of 2.84.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.07). Equities 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 institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in Janux Therapeutics by 1,574.0% during the first quarter. GAMMA Investing LLC now owns 1,674 shares of the company's stock worth $45,000 after acquiring an additional 1,574 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Janux Therapeutics by 2,402.9% in the 1st quarter. US Bancorp DE now owns 1,727 shares of the company's stock worth $47,000 after acquiring an additional 1,658 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Janux Therapeutics during the 4th quarter worth approximately $59,000. FNY Investment Advisers LLC increased its position in shares of Janux Therapeutics by 6,928.6% in the 1st quarter. FNY Investment Advisers LLC now owns 2,460 shares of the company's stock valued at $66,000 after purchasing an additional 2,425 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of Janux Therapeutics in the 1st quarter valued at approximately $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.