Janux Therapeutics (NASDAQ:JANX) Shares Up 6.2% – Here’s Why

Janux Therapeutics, Inc. (NASDAQ:JANX) shares were up 6.2% on Thursday . The stock traded as high as $42.13 and last traded at $42.67. Approximately 60,950 shares were traded during trading, a decline of 95% from the average daily volume of 1,161,491 shares. The stock had previously closed at $40.18.

Wall Street Analysts Forecast Growth

JANX has been the topic of a number of recent research reports. UBS Group initiated 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. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of Janux Therapeutics in a research report on Wednesday, December 11th. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research note on Friday, January 10th. BTIG Research lifted their target price on Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Scotiabank increased their price target on Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Janux Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $89.90.

Janux Therapeutics Trading Up 9.6 %

The firm’s 50 day simple moving average is $52.36 and its two-hundred day simple moving average is $48.37. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -37.53 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 analysts’ consensus estimates of ($0.33) by ($0.18). The company 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%. Janux Therapeutics’s quarterly revenue was down 82.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Activity at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 13,334 shares of Janux Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $54.88, for a total transaction of $731,769.92. Following the sale, the insider now directly owns 82,139 shares of the company’s stock, valued at approximately $4,507,788.32. The trade was a 13.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Alan Campbell sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the transaction, the chief executive officer now owns 257,054 shares of the company’s stock, valued at approximately $13,263,986.40. This represents a 8.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,334 shares of company stock valued at $6,070,020 over the last three months. 29.40% of the stock is owned by insiders.

Institutional Trading of Janux Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in Janux Therapeutics by 0.6% during the 3rd quarter. FMR LLC now owns 7,824,675 shares of the company’s stock worth $355,475,000 after acquiring an additional 47,075 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Janux Therapeutics by 40.0% in the third quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock worth $114,587,000 after purchasing an additional 721,563 shares during the last quarter. Geode Capital Management LLC increased its holdings in Janux Therapeutics by 6.2% in the third quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock valued at $30,107,000 after purchasing an additional 38,490 shares during the period. Point72 Asset Management L.P. raised its position in Janux Therapeutics by 190.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 395,875 shares of the company’s stock worth $17,985,000 after purchasing an additional 259,445 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Janux Therapeutics by 202.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock worth $10,639,000 after purchasing an additional 156,675 shares during the last quarter. 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.