Analysts Set Janux Therapeutics, Inc. (NASDAQ:JANX) PT at $36.46

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) have received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $36.4615.

Several research analysts have recently commented on the company. Stifel Nicolaus set a $35.00 price objective on Janux Therapeutics in a report on Friday, August 7th. TD Cowen raised shares of Janux Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Janux Therapeutics in a research report on Monday, July 20th. Guggenheim cut their price target on shares of Janux Therapeutics from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, Truist Financial reissued a “buy” rating and issued a $26.00 price target (down from $80.00) on shares of Janux Therapeutics in a report on Thursday, June 25th.

Janux Therapeutics Stock Performance

Shares of JANX stock opened at $16.25 on Monday. The company has a market capitalization of $993.52 million, a PE ratio of -9.91 and a beta of 2.53. Janux Therapeutics has a 52-week low of $12.12 and a 52-week high of $35.34. The business’s fifty day moving average is $16.98 and its 200 day moving average is $15.30.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Thursday, August 6th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.10). The company had revenue of $10.27 million during the quarter, compared to analyst estimates of $19.07 million. On average, sell-side analysts forecast that Janux Therapeutics will post -1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Janux Therapeutics during the second quarter valued at about $94,228,000. Alyeska Investment Group L.P. boosted its holdings in shares of Janux Therapeutics by 2.9% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,647,140 shares of the company’s stock worth $25,300,000 after purchasing an additional 46,051 shares in the last quarter. Algert Global LLC increased its position in shares of Janux Therapeutics by 150.5% during the 2nd quarter. Algert Global LLC now owns 1,110,889 shares of the company’s stock valued at $17,063,000 after purchasing an additional 667,492 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Janux Therapeutics during the 2nd quarter valued at about $13,985,000. Finally, Nantahala Capital Management LLC bought a new position in shares of Janux Therapeutics during the 2nd quarter valued at about $12,440,279. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

About Janux Therapeutics

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.