Janux Therapeutics (NASDAQ:JANX) Stock Rating Cut to “Peer Perform” at Wolfe Research

Janux Therapeutics (NASDAQ:JANX) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research note issued on Thursday, MarketBeat.com reports.

Other equities analysts have also recently issued research reports about the company. Truist Financial boosted their price objective on Janux Therapeutics from $26.00 to $27.00 and gave the company a “buy” rating in a report on Friday, November 6th. TD Cowen upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Guggenheim dropped their target price on Janux Therapeutics from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Barclays lifted their price target on Janux Therapeutics from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Janux Therapeutics in a report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Janux Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $36.92.

Janux Therapeutics Price Performance

Shares of Janux Therapeutics stock opened at $12.39 on Thursday. The firm has a fifty day moving average price of $17.13 and a 200 day moving average price of $15.39. Janux Therapeutics has a 1 year low of $11.59 and a 1 year high of $35.34. The stock has a market cap of $758.06 million, a PE ratio of -7.79 and a beta of 2.44.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.13. The business had revenue of $9.29 million during the quarter, compared to analysts’ expectations of $8.03 million. As a group, equities analysts expect that Janux Therapeutics will post -1.61 EPS for the current year.

Institutional Trading of Janux Therapeutics

Several institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in Janux Therapeutics during the second quarter worth $2,075,000. Jupiter Topco LLC purchased a new stake in shares of Janux Therapeutics in the second quarter valued at approximately $2,646,000. State Street Corp boosted its stake in Janux Therapeutics by 22.0% during the second quarter. State Street Corp now owns 3,004,899 shares of the company’s stock worth $46,155,000 after buying an additional 540,882 shares during the last quarter. Bank of America Corp DE purchased a new stake in Janux Therapeutics in the 2nd quarter valued at $13,985,000. Finally, BlackRock Inc. acquired a new stake in shares of Janux Therapeutics in the 2nd quarter worth $94,228,000. 75.39% of the stock is owned by institutional investors and hedge funds.

About Janux Therapeutics

Janux Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing immunotherapies for cancer. The company’s research focuses on engaging a patient’s T cells to recognize and attack tumors. Janux’s proprietary platforms are designed to keep certain immune therapies inactive until they reach the tumor environment, with the goal of limiting activity in healthy tissues. Its clinical-stage programs include candidates directed at targets such as PSMA and EGFR, and its broader pipeline includes additional investigational cancer therapies.