Short Interest in Janux Therapeutics, Inc. (NASDAQ:JANX) Increases By 19.8%

Janux Therapeutics, Inc. (NASDAQ:JANX) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 7,680,000 shares, an increase of 19.8% from the December 15th total of 6,410,000 shares. Approximately 16.4% of the shares of the company are short sold. Based on an average daily trading volume, of 1,050,000 shares, the days-to-cover ratio is currently 7.3 days.

Wall Street Analysts Forecast Growth

JANX has been the subject of several analyst reports. BTIG Research raised their price objective on shares of Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Leerink Partners lifted their price target on Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a report on Friday, January 10th. HC Wainwright lifted their target price on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus increased their price target on shares of Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $89.90.

Janux Therapeutics Trading Up 0.3 %

Shares of NASDAQ:JANX traded up $0.11 during trading on Friday, reaching $40.72. The company had a trading volume of 802,219 shares, compared to its average volume of 815,856. Janux Therapeutics has a 12 month low of $7.79 and a 12 month high of $71.71. The stock has a market capitalization of $2.14 billion, a P/E ratio of -34.80 and a beta of 3.23. The company has a fifty day moving average of $53.09 and a two-hundred day moving average of $48.34.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data 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). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The company had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. The firm’s quarterly revenue was down 82.6% compared to the same quarter last year. As a group, equities research analysts predict that Janux Therapeutics will post -1.38 earnings per share for the current year.

Insider Activity at Janux Therapeutics

In other Janux Therapeutics news, CEO David Alan Campbell sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the sale, the chief executive officer now directly owns 293,054 shares in the company, valued at $17,583,240. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew Hollman Meyer sold 13,334 shares of Janux Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $54.88, for a total value of $731,769.92. Following the completion of the sale, the insider now directly owns 82,139 shares of the company’s stock, valued at approximately $4,507,788.32. This trade represents a 13.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,334 shares of company stock worth $6,070,020. 29.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in Janux Therapeutics by 0.6% in the 3rd quarter. FMR LLC now owns 7,824,675 shares of the company’s stock worth $355,475,000 after buying an additional 47,075 shares during the period. Janus Henderson Group PLC boosted its holdings in Janux Therapeutics by 40.0% in the third quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock valued at $114,587,000 after acquiring an additional 721,563 shares in the last quarter. Logos Global Management LP increased its position in Janux Therapeutics by 400.0% during the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock valued at $31,418,000 after purchasing an additional 600,000 shares during the period. Geode Capital Management LLC raised its holdings in Janux Therapeutics by 6.2% in the 3rd quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock worth $30,107,000 after purchasing an additional 38,490 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Janux Therapeutics by 190.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 395,875 shares of the company’s stock valued at $17,985,000 after purchasing an additional 259,445 shares in the last quarter. 75.39% of the stock is owned by hedge funds and other 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.