Janux Therapeutics (NASDAQ:JANX) Shares Gap Up Following Insider Buying Activity

Janux Therapeutics, Inc. (NASDAQ:JANX) gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $30.64, but opened at $31.26. Janux Therapeutics shares last traded at $30.47, with a volume of 89,676 shares changing hands.

Specifically, Director Ra Capital Management, L.P. purchased 110,206 shares of the business’s stock in a transaction on Friday, March 7th. The shares were bought at an average price of $31.02 per share, for a total transaction of $3,418,590.12. Following the acquisition, the director now directly owns 10,141,287 shares in the company, valued at $314,582,722.74. This trade represents a 1.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ra Capital Management, L.P. acquired 341,742 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $30.64 per share, with a total value of $10,470,974.88. Following the purchase, the director now directly owns 9,658,988 shares in the company, valued at approximately $295,951,392.32. This trade represents a 3.67 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. Leerink Partners increased their target price on Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Lifesci Capital raised Janux Therapeutics to a “strong-buy” rating in a report on Friday, December 27th. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research report on Friday, January 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $76.00 price target (up from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $88.00.

Janux Therapeutics Price Performance

The stock has a 50-day simple moving average of $41.27 and a 200-day simple moving average of $47.50. The stock has a market cap of $1.79 billion, a PE ratio of -25.96 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. As a group, equities research analysts anticipate that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Hedge Funds Weigh In On Janux Therapeutics

Several large investors have recently bought and sold shares of JANX. Plato Investment Management Ltd boosted its holdings in Janux Therapeutics by 18.7% during the third quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock worth $54,000 after buying an additional 187 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Janux Therapeutics by 77.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock worth $54,000 after buying an additional 442 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Janux Therapeutics during the fourth quarter valued at $59,000. Avanza Fonder AB acquired a new position in Janux Therapeutics during the fourth quarter valued at $139,000. Finally, Meeder Asset Management Inc. acquired a new stake in Janux Therapeutics during the 4th quarter worth about $159,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.