Janux Therapeutics (NASDAQ:JANX) Trading 7% Higher – What’s Next?

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price was up 7% on Tuesday . The company traded as high as $57.22 and last traded at $57.21. Approximately 47,635 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 600,109 shares. The stock had previously closed at $53.49.

Wall Street Analysts Forecast Growth

JANX has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Lifesci Capital raised Janux Therapeutics to a “strong-buy” rating in a research report on Friday, December 27th. Leerink Partnrs raised shares of Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. Leerink Partners upped their price objective on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, BTIG Research lifted their target price on shares of Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Janux Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $89.90.

Janux Therapeutics Trading Down 12.1 %

The firm’s fifty day moving average price is $54.48 and its 200-day moving average price is $48.16. The company has a market cap of $2.67 billion, a P/E ratio of -43.44 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) 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 firm had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. The business’s revenue for the quarter was down 82.6% compared to the same quarter last year. As a group, research analysts forecast that Janux Therapeutics, Inc. will post -1.35 earnings per share for the current fiscal year.

Insider Activity at Janux Therapeutics

In related news, Director Ra Capital Management, L.P. bought 1,200,000 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was acquired at an average cost of $44.75 per share, with a total value of $53,700,000.00. Following the acquisition, the director now owns 9,317,246 shares in the company, valued at approximately $416,946,758.50. This represents a 14.78 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Alan Campbell sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the chief executive officer now owns 293,054 shares of the company’s stock, valued at $17,583,240. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,177 shares of company stock worth $6,162,207. 29.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Janux Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in JANX. Bank of New York Mellon Corp boosted its holdings in shares of Janux Therapeutics by 136.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,027 shares of the company’s stock worth $4,818,000 after acquiring an additional 66,340 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Janux Therapeutics in the second quarter worth $237,000. Rhumbline Advisers grew its holdings in shares of Janux Therapeutics by 41.2% during the second quarter. Rhumbline Advisers now owns 38,008 shares of the company’s stock worth $1,592,000 after purchasing an additional 11,085 shares during the last quarter. TD Asset Management Inc acquired a new stake in shares of Janux Therapeutics in the second quarter valued at $829,000. Finally, Victory Capital Management Inc. bought a new position in shares of Janux Therapeutics in the second quarter valued at about $512,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.