Janux Therapeutics, Inc. (NASDAQ:JANX) Receives Average Rating of “Moderate Buy” from Brokerages

Janux Therapeutics, Inc. (NASDAQ:JANX) has received an average recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $36.4615.

JANX has been the topic of a number of research reports. TD Cowen upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Janux Therapeutics in a research report on Monday, July 20th. Stifel Nicolaus set a $35.00 price target on Janux Therapeutics in a research report on Friday, August 7th. Wolfe Research raised Janux Therapeutics from a “peer perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a report on Monday, August 24th. Finally, Guggenheim decreased their price target on Janux Therapeutics from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, August 7th.

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd grew its stake in Janux Therapeutics by 31.8% in the 2nd quarter. WINTON GROUP Ltd now owns 90,300 shares of the company’s stock worth $1,387,000 after buying an additional 21,800 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Janux Therapeutics during the 2nd quarter worth $174,000. Raiffeisen Bank International AG lifted its holdings in shares of Janux Therapeutics by 9.1% during the 2nd quarter. Raiffeisen Bank International AG now owns 60,000 shares of the company’s stock worth $920,000 after acquiring an additional 5,000 shares during the last quarter. AXQ Capital LP grew its position in Janux Therapeutics by 109.0% in the second quarter. AXQ Capital LP now owns 47,508 shares of the company’s stock worth $730,000 after acquiring an additional 24,777 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its position in Janux Therapeutics by 2.9% in the second quarter. Alyeska Investment Group L.P. now owns 1,647,140 shares of the company’s stock worth $25,300,000 after acquiring an additional 46,051 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

Janux Therapeutics Price Performance

Shares of Janux Therapeutics stock opened at $16.59 on Monday. Janux Therapeutics has a 1 year low of $12.12 and a 1 year high of $35.34. The firm has a market cap of $1.01 billion, a PE ratio of -10.12 and a beta of 2.53. The stock has a fifty day moving average price of $16.99 and a 200-day moving average price of $15.35.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.10). The company had revenue of $10.27 million for the quarter, compared to the consensus estimate of $19.07 million. As a group, equities analysts anticipate that Janux Therapeutics will post -1.7 EPS for the current fiscal year.

Janux Therapeutics Company Profile

Janux Therapeutics, Inc (NASDAQ: JANX) is a clinical-stage biotechnology company developing immunotherapies designed to activate the body’s T cells against cancer while limiting activity in healthy tissues. The company’s approach is intended to address challenges associated with conventional T-cell engagers, including systemic toxicity and limited tolerability.

Janux’s programs are based on its Tumor Activated T Cell Engager (TRACTr) platform. These therapeutic molecules are designed to remain inactive in circulation and become activated within the tumor microenvironment, where they can direct T cells to recognize and attack cancer cells.