Cantor Fitzgerald Reiterates Overweight Rating for Janux Therapeutics (NASDAQ:JANX)

Cantor Fitzgerald reiterated their overweight rating on shares of Janux Therapeutics (NASDAQ:JANX - Free Report) in a research note published on Thursday, Benzinga reports. The brokerage currently has a $100.00 price target on the stock.

Several other brokerages also recently issued reports on JANX. BTIG Research began coverage on shares of Janux Therapeutics in a report on Thursday, March 21st. They set a buy rating and a $62.00 price target for the company. William Blair restated an outperform rating on shares of Janux Therapeutics in a research report on Tuesday, February 27th. Bank of America increased their price target on Janux Therapeutics from $24.00 to $48.00 and gave the stock a buy rating in a report on Wednesday, March 13th. Wedbush lifted their target price on Janux Therapeutics from $53.00 to $74.00 and gave the stock an outperform rating in a research note on Wednesday. Finally, Jonestrading initiated coverage on Janux Therapeutics in a research note on Tuesday, April 16th. They issued a buy rating and a $70.00 price target for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $64.83.

Janux Therapeutics Stock Performance

JANX stock traded down $3.43 during mid-day trading on Thursday, reaching $51.94. 1,492,674 shares of the stock traded hands, compared to its average volume of 783,604. Janux Therapeutics has a one year low of $5.65 and a one year high of $65.60. The business has a 50-day moving average price of $45.20 and a two-hundred day moving average price of $22.38. The stock has a market capitalization of $2.69 billion, a PE ratio of -38.73 and a beta of 3.87.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly earnings data on Friday, March 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.12. The firm had revenue of $2.46 million during the quarter, compared to analysts' expectations of $0.98 million. Janux Therapeutics had a negative net margin of 721.18% and a negative return on equity of 17.88%. On average, equities analysts expect that Janux Therapeutics will post -1.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Janux Therapeutics by 25.5% during the third quarter. FMR LLC now owns 6,351,322 shares of the company's stock worth $64,021,000 after acquiring an additional 1,288,526 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Janux Therapeutics in the 1st quarter valued at about $20,420,000. RA Capital Management L.P. boosted its stake in shares of Janux Therapeutics by 5.7% in the 3rd quarter. RA Capital Management L.P. now owns 9,165,652 shares of the company's stock valued at $92,390,000 after purchasing an additional 495,008 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Janux Therapeutics by 27.8% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company's stock worth $11,592,000 after purchasing an additional 250,000 shares in the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Janux Therapeutics in the 4th quarter valued at approximately $654,000. 75.39% of the stock is 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.