Janux Therapeutics (NASDAQ:JANX) Stock Price Expected to Rise, Wedbush Analyst Says

Janux Therapeutics (NASDAQ:JANX) had its price objective hoisted by Wedbush from $36.00 to $40.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush‘s target price indicates a potential upside of 137.39% from the company’s current price.

A number of other brokerages have also weighed in on JANX. HC Wainwright restated a “buy” rating on shares of Janux Therapeutics in a report on Monday, October 19th. Barclays lifted their target price on shares of Janux Therapeutics from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Janux Therapeutics in a report on Friday, October 16th. Guggenheim dropped their target price on shares of Janux Therapeutics from $58.00 to $55.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, Wolfe Research upgraded 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 report on Monday, August 24th. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.85.

Janux Therapeutics Stock Up 4.9%

Shares of NASDAQ JANX traded up $0.79 during midday trading on Friday, hitting $16.85. The stock had a trading volume of 157,819 shares, compared to its average volume of 1,053,717. The company has a market capitalization of $1.03 billion, a PE ratio of -10.25 and a beta of 2.44. The stock has a 50 day simple moving average of $17.52 and a 200-day simple moving average of $15.39. Janux Therapeutics has a 1 year low of $12.12 and a 1 year high of $35.34.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.13. The firm had revenue of $9.29 million during the quarter, compared to analyst estimates of $8.03 million. As a group, analysts expect that Janux Therapeutics will post -1.70 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Janux Therapeutics by 67.4% in 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 holdings in shares of Janux Therapeutics by 42.8% in the second quarter. Versant Capital Management Inc now owns 2,615 shares of the company’s stock valued at $40,000 after purchasing an additional 784 shares during the last quarter. Fulcrum Asset Management LLP lifted its position in 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 buying an additional 2,306 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Janux Therapeutics during the third quarter worth approximately $54,000. Finally, Quantbot Technologies LP lifted its position in Janux Therapeutics by 2,290.0% during the second quarter. Quantbot Technologies LP now owns 5,497 shares of the company’s stock worth $84,000 after buying an additional 5,267 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.