Janux Therapeutics (NASDAQ:JANX) Stock Price Up 6.6% – Time to Buy?

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) shot up 6.6% on Tuesday . The stock traded as high as $52.62 and last traded at $52.62. 304,033 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 711,626 shares. The stock had previously closed at $49.35.

Analyst Ratings Changes

Several brokerages have issued reports on JANX. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research report on Monday, September 16th. HC Wainwright reiterated a “buy” rating and issued a $63.00 target price on shares of Janux Therapeutics in a research report on Monday, August 19th. Wedbush restated an “outperform” rating and set a $74.00 price target on shares of Janux Therapeutics in a research report on Thursday, August 8th. Stifel Nicolaus initiated coverage on Janux Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Scotiabank dropped their target price on 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.13.

Janux Therapeutics Trading Up 6.9 %

The company has a market cap of $2.73 billion, a PE ratio of -43.13 and a beta of 3.54. The stock has a 50 day moving average price of $44.67 and a 200 day moving average price of $45.14.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results 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. The company had revenue of $8.90 million during the quarter, compared to analysts’ expectations of $0.77 million. Janux Therapeutics had a negative net margin of 291.17% and a negative return on equity of 8.78%. Janux Therapeutics’s revenue for the quarter was up 709.1% on a year-over-year basis. Equities analysts expect that Janux Therapeutics, Inc. will post -1.18 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 3,162,851 shares of the company’s stock, valued at $132,839,742. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 of the company’s stock, valued at approximately $132,839,742. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction on Friday, September 27th. The stock was sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 393,767 shares of company stock worth $17,857,979 over the last 90 days. 35.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Summit Securities Group LLC bought a new position in shares of Janux Therapeutics in the second quarter worth about $29,000. Amalgamated Bank boosted its holdings in shares of Janux Therapeutics by 61.1% during the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after purchasing an additional 368 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of Janux Therapeutics during the second quarter valued at about $42,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Janux Therapeutics in the second quarter worth about $151,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Janux Therapeutics in the second quarter worth about $215,000. 75.39% of the stock is currently owned by institutional investors.

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.