Janux Therapeutics (NASDAQ:JANX) Sees Unusually-High Trading Volume Following Analyst Upgrade

Janux Therapeutics, Inc. (NASDAQ:JANX) shares saw an uptick in trading volume on Wednesday after Leerink Partners raised their price target on the stock from $79.00 to $91.00. Leerink Partners currently has an outperform rating on the stock. 874,982 shares traded hands during trading, an increase of 17% from the previous session’s volume of 749,550 shares.The stock last traded at $62.16 and had previously closed at $59.86.

JANX has been the topic of a number of other research reports. Scotiabank reduced their target price on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday. HC Wainwright lifted their target price on shares of Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price objective on shares of Janux Therapeutics in a report on Thursday, November 7th. Finally, Stifel Nicolaus upped their target price on Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $77.90.

Insider Activity

In related news, CEO David Alan Campbell sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $67.00, for a total value of $1,005,000.00. Following the completion of the sale, the chief executive officer now directly owns 242,054 shares of the company’s stock, valued at $16,217,618. The trade was a 5.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ventures Xi L.P. Avalon sold 2,182 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $42.33, for a total value of $92,364.06. Following the transaction, the insider now directly owns 7,000 shares in the company, valued at approximately $296,310. This represents a 23.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 460,610 shares of company stock worth $21,583,666 over the last ninety days. Corporate insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors have recently made changes to their positions in JANX. Summit Securities Group LLC acquired a new position in Janux Therapeutics in the second quarter worth $29,000. Amalgamated Bank increased its holdings in shares of Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after acquiring an additional 368 shares during the period. Plato Investment Management Ltd bought a new stake in Janux Therapeutics in the 2nd quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 purchasing an additional 339 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Janux Therapeutics in the 2nd quarter worth about $151,000. 75.39% of the stock is currently owned by institutional investors.

Janux Therapeutics Stock Up 3.8 %

The firm’s 50 day simple moving average is $49.60 and its 200 day simple moving average is $45.72. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -51.16 and a beta of 3.29.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The business had revenue of $0.44 million for the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The company’s revenue was down 82.6% on a year-over-year basis. Analysts anticipate that Janux Therapeutics, Inc. will post -1.35 EPS for the current fiscal year.

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.