Janux Therapeutics, Inc. (NASDAQ:JANX) Sees Significant Increase in Short Interest

Janux Therapeutics, Inc. (NASDAQ:JANX) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 4,330,000 shares, an increase of 25.1% from the September 30th total of 3,460,000 shares. Based on an average trading volume of 577,200 shares, the days-to-cover ratio is currently 7.5 days. Approximately 10.7% of the company’s shares are short sold.

Analyst Ratings Changes

Several brokerages recently commented on JANX. Stifel Nicolaus began coverage on shares of Janux Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $70.00 price objective for the company. UBS Group started coverage on shares of Janux Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $69.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $63.00 target price on shares of Janux Therapeutics in a report on Monday, August 19th. Scotiabank dropped their price objective 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. Finally, Wedbush reiterated an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Janux Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $66.44.

Janux Therapeutics Price Performance

Shares of JANX traded up $1.40 during trading hours on Wednesday, hitting $55.61. The company’s stock had a trading volume of 87,886 shares, compared to its average volume of 711,409. The business has a 50 day simple moving average of $47.50 and a two-hundred day simple moving average of $46.04. Janux Therapeutics has a 52-week low of $5.65 and a 52-week high of $65.60. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -44.43 and a beta of 3.54.

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

Insider Buying and Selling at Janux Therapeutics

In other news, CEO David Alan Campbell sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $46.31, for a total value of $1,157,750.00. Following the completion of the transaction, the chief executive officer now owns 307,054 shares in the company, valued at $14,219,670.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ra Capital Management, L.P. bought 1,200,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was bought at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the purchase, the director now owns 9,317,246 shares in the company, valued at $416,946,758.50. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Alan Campbell sold 25,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $46.31, for a total value of $1,157,750.00. Following the transaction, the chief executive officer now owns 307,054 shares in the company, valued at approximately $14,219,670.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 395,610 shares of company stock valued at $17,950,166. 35.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC bought a new stake in shares of Janux Therapeutics in the 2nd quarter worth approximately $29,000. Amalgamated Bank grew its stake in shares of Janux Therapeutics by 61.1% in the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after acquiring an additional 368 shares during the last quarter. Plato Investment Management Ltd bought a new stake in Janux Therapeutics during the 2nd quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Janux Therapeutics by 21.9% during the third 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Janux Therapeutics in the 2nd quarter valued at approximately $151,000. Hedge funds and other institutional investors 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.