Bank of America Issues Pessimistic Forecast for Janux Therapeutics (NASDAQ:JANX) Stock Price
Bank of America lowered its target price for Janux Therapeutics from $58 to $49, maintaining a "buy" rating. Despite the decrease, the target suggests a 44.16% potential upside from the current price. Other analysts have varied target prices, with a consensus rating of "Moderate Buy" and an average target price of $70.54. Janux Therapeutics' stock opened at $33.99, with a market cap of $2.04 billion.
Janux Therapeutics (NASDAQ:JANX - Get Free Report) had its target price decreased by Bank of America from $58.00 to $49.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price indicates a potential upside of 44.16% from the company's current price.
JANX has been the topic of several other reports. Stifel Nicolaus set a $38.00 price target on shares of Janux Therapeutics in a report on Tuesday. Guggenheim initiated coverage on shares of Janux Therapeutics in a research report on Wednesday, September 3rd. They issued a "buy" rating and a $72.00 target price for the company. Wedbush reaffirmed an "outperform" rating and set a $76.00 price target on shares of Janux Therapeutics in a research report on Friday, November 7th. Truist Financial initiated coverage on Janux Therapeutics in a research note on Wednesday, September 10th. They issued a "buy" rating and a $100.00 price target for the company. Finally, Barclays upped their price objective on Janux Therapeutics from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Janux Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $70.54.
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Janux Therapeutics Stock Down 0.3%
Shares of NASDAQ JANX opened at $33.99 on Tuesday. Janux Therapeutics has a fifty-two week low of $21.73 and a fifty-two week high of $71.71. The business has a 50 day moving average price of $27.29 and a two-hundred day moving average price of $25.43. The firm has a market cap of $2.04 billion, a PE ratio of -20.23 and a beta of 2.82.
Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.60) by $0.21. The business had revenue of $10.00 million during the quarter, compared to analyst estimates of $3.07 million. On average, analysts anticipate that Janux Therapeutics will post -1.38 earnings per share for the current year.
Insider Buying and Selling
In other news, insider Andrew Hollman Meyer sold 16,665 shares of the company's stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $30.06, for a total transaction of $500,949.90. Following the completion of the transaction, the insider directly owned 82,139 shares of the company's stock, valued at approximately $2,469,098.34. This represents a 16.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.10% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Janux Therapeutics by 26.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,125 shares of the company's stock worth $192,000 after buying an additional 1,488 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Janux Therapeutics by 2,402.9% during the first quarter. US Bancorp DE now owns 1,727 shares of the company's stock valued at $47,000 after acquiring an additional 1,658 shares during the period. Vanguard Group Inc. grew its position in shares of Janux Therapeutics by 6.7% during the first quarter. Vanguard Group Inc. now owns 2,278,660 shares of the company's stock worth $61,524,000 after acquiring an additional 142,328 shares during the last quarter. Deutsche Bank AG grew its position in shares of Janux Therapeutics by 7.2% during the first quarter. Deutsche Bank AG now owns 99,691 shares of the company's stock worth $2,692,000 after acquiring an additional 6,662 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Janux Therapeutics in the 1st quarter worth about $3,339,000. Institutional investors and hedge funds own 75.39% of the company's stock.
Janux Therapeutics Company Profile
(Get Free Report)Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.
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