UBS Group Initiates Coverage on Janux Therapeutics (NASDAQ:JANX)

UBS Group began coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a research report released on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $69.00 price target on the stock.

JANX has been the topic of several other research reports. Stifel Nicolaus assumed coverage on Janux Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $70.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a report on Monday, September 16th. Wedbush reaffirmed an “outperform” rating and set a $74.00 price objective on shares of Janux Therapeutics in a research report on Thursday, August 8th. Scotiabank decreased their price objective on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a report on Friday, August 9th. Finally, HC Wainwright restated a “buy” rating and set a $63.00 target price on shares of Janux Therapeutics in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.44.

Janux Therapeutics Trading Up 0.2 %

Shares of JANX opened at $53.41 on Thursday. The company’s fifty day simple moving average is $47.10 and its 200 day simple moving average is $45.99. Janux Therapeutics has a 1-year low of $5.65 and a 1-year high of $65.60. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -58.69 and a beta of 3.54.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. The company had revenue of $8.90 million during the quarter, compared to the consensus estimate of $0.77 million. Janux Therapeutics had a negative net margin of 291.17% and a negative return on equity of 8.78%. The company’s revenue for the quarter was up 709.1% on a year-over-year basis. As a group, research analysts forecast that Janux Therapeutics will post -1.18 earnings per share for the current year.

Insider Buying and Selling

In other Janux Therapeutics news, Director Ra Capital Management, L.P. acquired 1,200,000 shares of the business’s stock in a transaction on Friday, October 18th. The stock was purchased at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the acquisition, the director now directly owns 9,317,246 shares of the company’s stock, valued at approximately $416,946,758.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $50.02, for a total transaction of $92,186.86. Following the sale, the insider now directly owns 6,371 shares of the company’s stock, valued at approximately $318,677.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 1,200,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the transaction, the director now directly owns 9,317,246 shares of the company’s stock, valued at $416,946,758.50. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 395,610 shares of company stock valued at $17,950,166. 29.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Janux Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in shares of Janux Therapeutics in the 2nd quarter valued at approximately $29,000. Amalgamated Bank raised its position in Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after purchasing an additional 368 shares in the last quarter. Plato Investment Management Ltd acquired a new position in Janux Therapeutics during the second quarter valued at approximately $42,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Janux Therapeutics by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after purchasing an additional 339 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Janux Therapeutics in the 2nd quarter valued at $151,000. Institutional investors own 75.39% of the company’s stock.

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.