Janux Therapeutics (NASDAQ:JANX) Trading 6.9% Higher – Here’s What Happened

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price was up 6.9% during trading on Wednesday . The company traded as high as $43.79 and last traded at $44.14. Approximately 110,574 shares were traded during trading, a decline of 90% from the average daily volume of 1,090,951 shares. The stock had previously closed at $41.31.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group assumed coverage on Janux Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of Janux Therapeutics in a research note on Wednesday, December 11th. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research note on Friday, January 10th. Leerink Partnrs raised Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Leerink Partners upped their price target on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Janux Therapeutics currently has a consensus rating of “Buy” and an average target price of $89.90.

Janux Therapeutics Stock Down 3.2 %

The firm has a fifty day moving average price of $51.18 and a two-hundred day moving average price of $48.34. The stock has a market capitalization of $2.07 billion, a P/E ratio of -33.65 and a beta of 3.16.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate 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 business’s revenue was down 82.6% compared to the same quarter last year. Sell-side analysts anticipate that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 3,334 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.29, for a total value of $140,994.86. Following the transaction, the insider now directly owns 82,139 shares of the company’s stock, valued at approximately $3,473,658.31. This trade represents a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the chief executive officer now directly owns 257,054 shares in the company, valued at $13,263,986.40. The trade was a 8.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,668 shares of company stock worth $4,872,515. 29.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of JANX. Plato Investment Management Ltd boosted its position in Janux Therapeutics by 18.7% in the third quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock worth $54,000 after purchasing an additional 187 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after purchasing an additional 339 shares during the last quarter. Avanza Fonder AB purchased a new position in Janux Therapeutics in the fourth quarter worth about $139,000. AQR Capital Management LLC purchased a new position in Janux Therapeutics in the second quarter worth about $215,000. Finally, Chicago Capital LLC purchased a new position in Janux Therapeutics in the fourth quarter worth about $230,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

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.