Janux Therapeutics (NASDAQ:JANX) Upgraded by Truist Financial to Strong-Buy Rating

Key Points

• Truist Financial upgraded Janux Therapeutics (NASDAQ:JANX) to a "Strong-Buy", while overall analyst coverage remains mixed but leans positive with an average rating of "Moderate Buy" and an average price target of $49.75.
• Shares trade near $14.42 with a market cap of $879M and a negative P/E; the company beat quarterly estimates (EPS -$0.51 vs. -$0.65; revenue $7.88M vs. $0.08M), analysts forecast FY EPS of -2.34, and institutional ownership is high at about 75.4%.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) was upgraded by equities researchers at Truist Financial to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other analysts also recently commented on the company. Cantor Fitzgerald lowered their price objective on Janux Therapeutics from $150.00 to $100.00 and set an "overweight" rating for the company in a research note on Friday, February 27th. JonesTrading lowered their price objective on Janux Therapeutics from $50.00 to $28.00 and set a "buy" rating for the company in a research note on Tuesday, April 28th. Clear Str downgraded Janux Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 20th. Barclays downgraded Janux Therapeutics from an "overweight" rating to an "underweight" rating and lowered their price objective for the stock from $29.00 to $14.00 in a research note on Monday, April 20th. Finally, Wall Street Zen raised Janux Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, April 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $49.75.

Janux Therapeutics Stock Performance

Shares of NASDAQ:JANX opened at $14.42 on Monday. The business's 50 day simple moving average is $14.29 and its two-hundred day simple moving average is $17.72. The firm has a market cap of $879.04 million, a P/E ratio of -7.88 and a beta of 2.58. Janux Therapeutics has a 52-week low of $12.12 and a 52-week high of $35.34.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.65) by $0.14. The firm had revenue of $7.88 million during the quarter, compared to the consensus estimate of $0.08 million. On average, equities analysts forecast that Janux Therapeutics will post -2.34 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 JANX. AQR Capital Management LLC increased its position in shares of Janux Therapeutics by 71.7% during the first quarter. AQR Capital Management LLC now owns 9,717 shares of the company's stock valued at $262,000 after acquiring an additional 4,059 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Janux Therapeutics by 18.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,403 shares of the company's stock valued at $583,000 after acquiring an additional 3,393 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Janux Therapeutics by 12.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,394 shares of the company's stock valued at $5,033,000 after acquiring an additional 20,657 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Janux Therapeutics by 82.9% during the second quarter. JPMorgan Chase & Co. now owns 247,424 shares of the company's stock valued at $5,715,000 after acquiring an additional 112,116 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Janux Therapeutics by 12.0% during the second quarter. Legal & General Group Plc now owns 47,353 shares of the company's stock valued at $1,094,000 after acquiring an additional 5,055 shares during the last quarter. 75.39% of the stock is owned by hedge funds and other institutional investors.

About Janux Therapeutics

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.

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