Janux Therapeutics (NASDAQ:JANX) Hits New 12-Month High at $64.79

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $64.79 and last traded at $62.43, with a volume of 1115596 shares traded. The stock had previously closed at $58.19.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on JANX. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday, February 27th. 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 objective on the stock. Bank of America lifted their price target on shares of Janux Therapeutics from $24.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Cantor Fitzgerald assumed coverage on Janux Therapeutics in a research note on Wednesday, March 20th. They issued an “overweight” rating and a $100.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating and set a $53.00 target price on shares of Janux Therapeutics in a research report on Monday, March 11th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $61.33.

Janux Therapeutics Price Performance

The business’s 50-day moving average price is $43.85 and its two-hundred day moving average price is $21.18. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -48.34 and a beta of 3.87.

Janux Therapeutics (NASDAQ:JANX) last posted 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 business had revenue of $2.46 million for the quarter, compared to analysts’ expectations of $0.98 million. Janux Therapeutics had a negative return on equity of 17.88% and a negative net margin of 721.18%. As a group, sell-side analysts forecast that Janux Therapeutics, Inc. will post -1.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of Janux Therapeutics by 227.1% in the 3rd quarter. Barclays PLC now owns 17,922 shares of the company’s stock valued at $181,000 after purchasing an additional 12,443 shares during the last quarter. FMR LLC lifted its stake in shares of Janux Therapeutics by 25.5% in the 3rd quarter. FMR LLC now owns 6,351,322 shares of the company’s stock valued at $64,021,000 after purchasing an additional 1,288,526 shares in the last quarter. Old Well Partners LLC acquired a new stake in Janux Therapeutics during the 3rd quarter worth approximately $104,000. Corton Capital Inc. acquired a new stake in Janux Therapeutics during the 3rd quarter worth approximately $111,000. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Janux Therapeutics by 27.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock valued at $11,592,000 after buying an additional 250,000 shares during the period. Institutional investors and hedge funds 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.