Janux Therapeutics (NASDAQ:JANX) Coverage Initiated by Analysts at 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 began coverage on shares of Janux Therapeutics (NASDAQ:JANX - Free Report) in a report issued on Tuesday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $47.00 price target on the stock.

Several other research analysts have also issued reports on the stock. Raymond James Financial started coverage on shares of Janux Therapeutics in a research report on Friday, July 11th. They issued an "outperform" rating and a $65.00 price target on the stock. Truist Financial initiated coverage on Janux Therapeutics in a research report on Wednesday, September 10th. They set a "buy" rating and a $100.00 target price on the stock. Piper Sandler initiated coverage on Janux Therapeutics in a research report on Monday, August 18th. They set an "overweight" rating and a $42.00 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. Finally, Guggenheim initiated coverage on Janux Therapeutics in a research report on Wednesday, September 3rd. They set a "buy" rating and a $72.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $78.31.

Janux Therapeutics Stock Performance

Shares of JANX traded up $0.06 during mid-day trading on Tuesday, reaching $23.51. 503,278 shares of the company's stock traded hands, compared to its average volume of 642,852. The business's 50-day moving average price is $24.40 and its 200-day moving average price is $25.98. The stock has a market capitalization of $1.41 billion, a P/E ratio of -13.06 and a beta of 2.84. Janux Therapeutics has a 12 month low of $21.97 and a 12 month high of $71.71.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly 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). Equities research analysts anticipate that Janux Therapeutics will post -1.38 EPS for the current year.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in 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 purchasing an additional 404 shares in the last quarter. Avanza Fonder AB grew its position in Janux Therapeutics by 17.0% during the 1st quarter. Avanza Fonder AB now owns 3,049 shares of the company's stock worth $86,000 after purchasing an additional 444 shares in the last quarter. New York State Common Retirement Fund grew its position in Janux Therapeutics by 3.0% during the 1st quarter. New York State Common Retirement Fund now owns 16,435 shares of the company's stock worth $444,000 after purchasing an additional 471 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Janux Therapeutics by 20.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,043 shares of the company's stock worth $109,000 after purchasing an additional 686 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Janux Therapeutics by 6.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,855 shares of the company's stock valued at $320,000 after acquiring an additional 727 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other 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.