Janux Therapeutics (NASDAQ:JANX) Trading Up 6.3% – What’s Next?

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price rose 6.3% during mid-day trading on Monday . The company traded as high as $58.06 and last traded at $57.81. Approximately 333,892 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 710,558 shares. The stock had previously closed at $54.39.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on JANX. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Janux Therapeutics in a research report on Monday, September 16th. Stifel Nicolaus began coverage on Janux Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $70.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a research report on Thursday, August 8th. Scotiabank lowered their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a research report on Friday, August 9th. Finally, UBS Group assumed coverage on shares of Janux Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price objective on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Janux Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.44.

Janux Therapeutics Stock Up 2.7 %

The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -63.59 and a beta of 3.52. The firm’s 50 day moving average is $48.09 and its 200 day moving average is $46.14.

Janux Therapeutics (NASDAQ:JANX) last issued 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. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The business had revenue of $8.90 million for the quarter, compared to analysts’ expectations of $0.77 million. Janux Therapeutics’s revenue was up 709.1% compared to the same quarter last year. On average, sell-side analysts predict that Janux Therapeutics, Inc. will post -1.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. bought 1,200,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was bought at an average cost of $44.75 per share, for a total transaction of $53,700,000.00. Following the completion of the acquisition, the director now directly owns 9,317,246 shares in the company, valued at $416,946,758.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the completion of the sale, the insider now directly owns 3,162,851 shares in the company, valued at approximately $132,839,742. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 price of $44.75 per share, for a total transaction of $53,700,000.00. Following the acquisition, the director now directly owns 9,317,246 shares in the company, valued at $416,946,758.50. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 420,610 shares of company stock worth $19,288,666. Company insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Several institutional investors have recently made changes to their positions in JANX. Logos Global Management LP lifted its position in Janux Therapeutics by 400.0% in the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock worth $31,418,000 after buying an additional 600,000 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Janux Therapeutics in the first quarter valued at approximately $20,420,000. Vanguard Group Inc. increased its stake in shares of Janux Therapeutics by 38.6% during the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after purchasing an additional 378,477 shares during the last quarter. Altitude Crest Partners Inc. acquired a new position in shares of Janux Therapeutics during the 1st quarter worth $7,278,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Janux Therapeutics in the 2nd quarter valued at $5,715,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.