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

Janux Therapeutics, Inc. (NASDAQ:JANX) was the target of a significant increase in short interest in 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 daily trading volume, of 577,200 shares, the days-to-cover ratio is presently 7.5 days. Currently, 10.7% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JANX shares. Wedbush reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a report on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $63.00 price target on shares of Janux Therapeutics in a research report on Monday, August 19th. Scotiabank reduced 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. UBS Group assumed coverage on Janux Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Janux Therapeutics in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.44.

Insider Transactions at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $45.96, for a total value of $2,298,000.00. Following the transaction, the insider now owns 67,592 shares in the company, valued at approximately $3,106,528.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Ra Capital Management, L.P. acquired 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 transaction, the director now owns 9,317,246 shares of the company’s stock, valued at approximately $416,946,758.50. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Hollman Meyer sold 50,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $45.96, for a total value of $2,298,000.00. Following the transaction, the insider now directly owns 67,592 shares in the company, valued at $3,106,528.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 395,610 shares of company stock worth $17,950,166 over the last ninety days. 35.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Janux Therapeutics

Large investors have recently bought and sold shares of the stock. Capstone Investment Advisors LLC bought a new stake in Janux Therapeutics in the first quarter worth about $1,969,000. Lester Murray Antman dba SimplyRich purchased a new position in Janux Therapeutics during the first quarter worth about $300,000. ProShare Advisors LLC purchased a new stake in Janux Therapeutics in the first quarter valued at approximately $251,000. Lord Abbett & CO. LLC purchased a new position in Janux Therapeutics in the first quarter worth $20,420,000. Finally, Vanguard Group Inc. lifted its position in Janux Therapeutics by 38.6% in the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after buying an additional 378,477 shares during the last quarter. 75.39% of the stock is currently owned by institutional investors.

Janux Therapeutics Trading Up 3.2 %

JANX stock traded up $1.74 during trading on Wednesday, hitting $55.95. The company had a trading volume of 529,257 shares, compared to its average volume of 713,510. The stock has a market cap of $2.90 billion, a PE ratio of -45.58 and a beta of 3.54. Janux Therapeutics has a one year low of $5.65 and a one year high of $65.60. The business has a 50-day moving average of $47.50 and a 200-day moving average of $46.04.

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

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.