Janux Therapeutics (NASDAQ:JANX) Price Target Raised to $74.00 at Wedbush

Janux Therapeutics (NASDAQ:JANX) had its target price increased by Wedbush from $53.00 to $74.00 in a report released on Wednesday morning, Marketbeat reports. Wedbush currently has an outperform rating on the stock.

JANX has been the subject of a number of other reports. Jonestrading began coverage on Janux Therapeutics in a research report on Tuesday, April 16th. They issued a buy rating and a $70.00 price objective for the company. Bank of America boosted their price target on Janux Therapeutics from $24.00 to $48.00 and gave the stock a buy rating in a research report on Wednesday, March 13th. BTIG Research began coverage on Janux Therapeutics in a research report on Thursday, March 21st. They set a buy rating and a $62.00 price target for the company. William Blair reiterated an outperform rating on shares of Janux Therapeutics in a research report on Tuesday, February 27th. Finally, Cantor Fitzgerald began coverage on Janux Therapeutics in a research report on Wednesday, March 20th. They set an overweight rating and a $100.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $64.83.

Janux Therapeutics Stock Down 6.2 %

Shares of NASDAQ:JANX traded down $3.43 during trading on Wednesday, hitting $51.94. The stock had a trading volume of 1,492,684 shares, compared to its average volume of 783,958. Janux Therapeutics has a 12-month low of $5.65 and a 12-month high of $65.60. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -38.73 and a beta of 3.87. The stock has a 50-day simple moving average of $45.20 and a two-hundred day simple moving average of $22.38.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Friday, March 8th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.12. The company had revenue of $2.46 million during 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 will post -1.41 earnings per share for the current year.

Institutional Trading of Janux Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its stake in shares of Janux Therapeutics by 10,740.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the company’s stock valued at $29,000 after purchasing an additional 2,685 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Janux Therapeutics in the 4th quarter valued at $57,000. SG Americas Securities LLC acquired a new position in shares of Janux Therapeutics in the 4th quarter valued at $100,000. Old Well Partners LLC acquired a new position in shares of Janux Therapeutics in the 3rd quarter valued at $104,000. Finally, Corton Capital Inc. acquired a new position in shares of Janux Therapeutics in the 3rd quarter valued at $111,000. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

About Janux Therapeutics

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.