Janux Therapeutics (NASDAQ:JANX) Trading 6.9% Higher – Here’s What Happened

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price traded up 6.9% on Wednesday . The stock traded as high as $43.79 and last traded at $44.14. 110,574 shares changed hands during trading, a decline of 90% from the average session volume of 1,090,951 shares. The stock had previously closed at $41.31.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of Janux Therapeutics in a report on Wednesday, December 11th. BTIG Research lifted their price objective on Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Scotiabank upped their price objective on shares of Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a report on Wednesday, December 4th. Leerink Partners lifted their target price on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research note on Friday, January 10th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $89.90.

Janux Therapeutics Price Performance

The firm has a market capitalization of $2.35 billion, a PE ratio of -38.24 and a beta of 3.16. The business’s 50 day moving average is $51.33 and its two-hundred day moving average is $48.42.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The company had revenue of $0.44 million for the quarter, compared to analysts’ expectations of $1.50 million. The business’s quarterly revenue was down 82.6% on a year-over-year basis. Analysts expect that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 13,334 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $54.88, for a total value of $731,769.92. Following the completion of the sale, the insider now owns 82,139 shares of the company’s stock, valued at $4,507,788.32. This trade represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Alan Campbell sold 15,000 shares of Janux Therapeutics stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $67.00, for a total transaction of $1,005,000.00. Following the completion of the sale, the chief executive officer now owns 242,054 shares in the company, valued at approximately $16,217,618. This trade represents a 5.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,334 shares of company stock worth $4,731,520 over the last 90 days. Corporate insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Plato Investment Management Ltd raised its stake in Janux Therapeutics by 18.7% in the third quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock worth $54,000 after buying an additional 187 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Janux Therapeutics by 21.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after acquiring an additional 339 shares in the last quarter. Avanza Fonder AB purchased a new position in shares of Janux Therapeutics during the 4th quarter worth approximately $139,000. Chicago Capital LLC bought a new position in shares of Janux Therapeutics in the 4th quarter worth approximately $230,000. Finally, AQR Capital Management LLC purchased a new position in shares of Janux Therapeutics in the 2nd quarter valued at approximately $215,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

About Janux Therapeutics

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.