Janux Therapeutics (NASDAQ:JANX) Upgraded by TD Cowen to “Strong-Buy” Rating

TD Cowen upgraded shares of Janux Therapeutics (NASDAQ:JANX) to a strong-buy rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on JANX. JonesTrading dropped their target price on shares of Janux Therapeutics from $50.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Evercore set a $22.00 price objective on shares of Janux Therapeutics in a research note on Monday, May 11th. Wolfe Research raised shares of Janux Therapeutics from a “peer perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research note on Monday. Truist Financial reiterated a “buy” rating and set a $26.00 target price (down from $80.00) on shares of Janux Therapeutics in a report on Thursday, June 25th. Finally, Stifel Nicolaus set a $35.00 price target on Janux Therapeutics in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.46.

Janux Therapeutics Trading Up 7.0%

Shares of NASDAQ JANX opened at $18.60 on Monday. The business has a 50-day moving average of $15.76 and a 200-day moving average of $14.67. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -11.34 and a beta of 2.50. Janux Therapeutics has a 12 month low of $12.12 and a 12 month high of $35.34.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.10). The firm had revenue of $10.27 million during the quarter, compared to analysts’ expectations of $19.07 million. On average, analysts predict that Janux Therapeutics will post -1.76 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Janeen Noel Doyle sold 4,059 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $14.03, for a total transaction of $56,947.77. Following the completion of the transaction, the insider directly owned 75,941 shares in the company, valued at approximately $1,065,452.23. The trade was a 5.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors have recently bought and sold shares of JANX. Rhenman & Partners Asset Management AB increased its position in Janux Therapeutics by 125.1% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 225,377 shares of the company’s stock valued at $3,110,000 after purchasing an additional 125,250 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Janux Therapeutics in the 1st quarter worth approximately $1,946,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Janux Therapeutics during the fourth quarter valued at approximately $536,000. Rangeley Capital LLC increased its holdings in Janux Therapeutics by 382.0% during the first quarter. Rangeley Capital LLC now owns 122,500 shares of the company’s stock valued at $1,703,000 after buying an additional 97,086 shares during the period. Finally, Irenic Capital Management LP bought a new position in Janux Therapeutics in the first quarter worth approximately $10,645,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

Janux Therapeutics Company Profile

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.