Janux Therapeutics (NASDAQ:JANX) Stock Price Target Raised at Wedbush

Janux Therapeutics (NASDAQ:JANX) had its target price raised by research analysts at Wedbush from $36.00 to $40.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush‘s price target suggests a potential upside of 137.39% from the stock’s previous close.

Several other equities research analysts have also commented on JANX. Weiss Ratings restated a “sell (d-)” rating on shares of Janux Therapeutics in a research report on Friday, October 16th. TD Cowen raised shares of Janux Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. HC Wainwright reaffirmed a “buy” rating on shares of Janux Therapeutics in a report on Monday, October 19th. Barclays boosted their target price on shares of Janux Therapeutics from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Stifel Nicolaus set a $35.00 price target on shares of Janux Therapeutics in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $36.85.

Janux Therapeutics Stock Up 4.9%

Shares of JANX traded up $0.79 during mid-day trading on Friday, reaching $16.85. The company had a trading volume of 157,819 shares, compared to its average volume of 1,053,717. Janux Therapeutics has a 52-week low of $12.12 and a 52-week high of $35.34. The stock has a market capitalization of $1.03 billion, a P/E ratio of -10.25 and a beta of 2.44. The stock has a 50 day moving average of $17.52 and a two-hundred day moving average of $15.39.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Thursday, November 5th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.13. The company had revenue of $9.29 million for the quarter, compared to analyst estimates of $8.03 million. On average, sell-side analysts expect that Janux Therapeutics will post -1.70 earnings per share for the current year.

Hedge Funds Weigh In On Janux Therapeutics

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Janux Therapeutics by 67.4% during the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock valued at $28,000 after purchasing an additional 661 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Janux Therapeutics by 42.8% during the second quarter. Versant Capital Management Inc now owns 2,615 shares of the company’s stock worth $40,000 after purchasing an additional 784 shares in the last quarter. Fulcrum Asset Management LLP increased its stake in shares of Janux Therapeutics by 3,391.2% during the third quarter. Fulcrum Asset Management LLP now owns 2,374 shares of the company’s stock worth $40,000 after purchasing an additional 2,306 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Janux Therapeutics during the third quarter worth about $54,000. Finally, Quantbot Technologies LP raised its position in shares of Janux Therapeutics by 2,290.0% during the 2nd quarter. Quantbot Technologies LP now owns 5,497 shares of the company’s stock worth $84,000 after purchasing an additional 5,267 shares during the last quarter. Institutional investors and hedge funds own 75.39% of the company’s stock.

About Janux Therapeutics

Janux Therapeutics, Inc is a clinical-stage biopharmaceutical company developing immune-based medicines for the treatment of cancer and autoimmune diseases. The company’s research is focused on designing therapies that selectively activate the immune system in diseased tissue while limiting activity in healthy tissue.

Janux’s proprietary technology platform is designed to create tumor-activated T-cell engager therapies and other immunomodulators. These medicines are engineered to remain relatively inactive in the circulation and become activated in the tumor microenvironment, with the goal of improving the therapeutic window of immune therapies.