Guggenheim Cuts Janux Therapeutics (NASDAQ:JANX) Price Target to $68.00

Janux Therapeutics (NASDAQ:JANX) had its target price lowered by equities research analysts at Guggenheim from $72.00 to $68.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 392.75% from the company’s current price.

JANX has been the subject of several other research reports. UBS Group reissued a “buy” rating and set a $57.00 price target on shares of Janux Therapeutics in a report on Tuesday, December 2nd. Stifel Nicolaus cut their price objective on shares of Janux Therapeutics from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Bank of America reduced their price objective on Janux Therapeutics from $58.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Piper Sandler lowered their target price on Janux Therapeutics from $42.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. Finally, Clear Str cut Janux Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.75.

Janux Therapeutics Price Performance

JANX stock opened at $13.80 on Friday. Janux Therapeutics has a 1-year low of $12.12 and a 1-year high of $35.34. The firm has a fifty day moving average price of $13.73 and a two-hundred day moving average price of $20.80. The firm has a market cap of $830.07 million, a price-to-earnings ratio of -8.21 and a beta of 2.88.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.14. The business had revenue of $7.88 million for the quarter, compared to the consensus estimate of $0.08 million. As a group, analysts expect that Janux Therapeutics will post -1.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Janux Therapeutics news, insider Thomas Diraimondo sold 2,505 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $13.73, for a total transaction of $34,393.65. Following the sale, the insider owned 124,425 shares in the company, valued at approximately $1,708,355.25. The trade was a 1.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Hollman Meyer sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $32.98, for a total transaction of $109,922.34. Following the completion of the transaction, the insider directly owned 84,974 shares of the company’s stock, valued at $2,802,442.52. This represents a 3.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,366 shares of company stock worth $371,245 over the last three months. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Large investors have recently made changes to their positions in the business. California State Teachers Retirement System boosted its holdings in shares of Janux Therapeutics by 1.1% during the second quarter. California State Teachers Retirement System now owns 37,139 shares of the company’s stock worth $858,000 after purchasing an additional 404 shares during the period. ProShare Advisors LLC lifted its position in Janux Therapeutics by 8.1% in the 2nd quarter. ProShare Advisors LLC now owns 10,284 shares of the company’s stock worth $238,000 after buying an additional 771 shares in the last quarter. Nuveen LLC boosted its stake in shares of Janux Therapeutics by 0.8% during the 4th quarter. Nuveen LLC now owns 96,416 shares of the company’s stock valued at $1,331,000 after buying an additional 787 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Janux Therapeutics by 25.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,020 shares of the company’s stock valued at $93,000 after buying an additional 820 shares during the period. Finally, Virtus Investment Advisers LLC grew its holdings in shares of Janux Therapeutics by 37.9% during the 2nd quarter. Virtus Investment Advisers LLC now owns 3,679 shares of the company’s stock valued at $85,000 after acquiring an additional 1,011 shares in the last quarter. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.