Janux Therapeutics, Inc. (NASDAQ:JANX) Insider Sells $2,298,000.00 in Stock

Janux Therapeutics, Inc. (NASDAQ:JANX) insider Andrew Hollman Meyer sold 50,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $45.96, for a total value of $2,298,000.00. Following the completion of the transaction, the insider now directly owns 67,592 shares in the company, valued at approximately $3,106,528.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Janux Therapeutics Stock Down 0.8 %

Shares of NASDAQ:JANX opened at $46.25 on Monday. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -37.91 and a beta of 3.57. Janux Therapeutics, Inc. has a 12 month low of $5.65 and a 12 month high of $65.60. The company’s fifty day simple moving average is $43.92 and its 200 day simple moving average is $44.59.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. The firm had revenue of $8.90 million during the quarter, compared to analysts’ expectations of $0.77 million. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The business’s revenue for the quarter was up 709.1% on a year-over-year basis. Research analysts expect that Janux Therapeutics, Inc. will post -1.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of JANX. Logos Global Management LP boosted its position in Janux Therapeutics by 400.0% during the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock worth $31,418,000 after acquiring an additional 600,000 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Janux Therapeutics during the first quarter worth $20,420,000. Vanguard Group Inc. grew its position in Janux Therapeutics by 38.6% in the first quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock valued at $51,127,000 after purchasing an additional 378,477 shares in the last quarter. Altitude Crest Partners Inc. acquired a new stake in Janux Therapeutics in the 1st quarter valued at $7,278,000. Finally, Point72 Asset Management L.P. bought a new stake in Janux Therapeutics during the 2nd quarter worth about $5,715,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Stifel Nicolaus initiated coverage on Janux Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $70.00 price target for the company. Scotiabank cut their target price on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a report on Friday, August 9th. Wedbush reissued an “outperform” rating and set a $74.00 price target on shares of Janux Therapeutics in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $63.00 price objective on shares of Janux Therapeutics in a research report on Monday, August 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.13.

Janux Therapeutics Company Profile

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.