Janux Therapeutics (NASDAQ:JANX) Stock Price Up 6.2% – Here’s What Happened

Janux Therapeutics, Inc. (NASDAQ:JANX) shares traded up 6.2% during trading on Thursday . The stock traded as high as $42.13 and last traded at $42.67. 60,950 shares were traded during trading, a decline of 95% from the average session volume of 1,161,491 shares. The stock had previously closed at $40.18.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JANX. UBS Group began coverage on Janux Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target for the company. Leerink Partners increased their target price on shares of 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 restated an “outperform” rating on shares of Janux Therapeutics in a research report on Friday, January 10th. Scotiabank increased their price objective on shares of Janux Therapeutics from $42.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus boosted their target price on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $89.90.

Janux Therapeutics Trading Down 1.1 %

The firm’s fifty day moving average price is $52.14 and its two-hundred day moving average price is $48.38.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The firm had revenue of $0.44 million during the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The firm’s revenue for the quarter was down 82.6% on a year-over-year basis. Sell-side analysts forecast that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Insider Transactions at Janux Therapeutics

In related news, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the transaction, the chief executive officer now owns 257,054 shares of the company’s stock, valued at approximately $13,263,986.40. This trade represents a 8.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $54.88, for a total value of $731,769.92. Following the transaction, the insider now owns 82,139 shares of the company’s stock, valued at $4,507,788.32. This trade represents a 13.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,334 shares of company stock valued at $6,070,020 over the last ninety days. 29.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of JANX. Amalgamated Bank grew its stake in shares of Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after acquiring an additional 368 shares in the last quarter. 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 purchasing an additional 187 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Janux Therapeutics by 21.9% in the 3rd 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 in the last quarter. Avanza Fonder AB purchased a new stake in Janux Therapeutics in the 4th quarter valued at about $139,000. Finally, Chicago Capital LLC purchased a new stake in Janux Therapeutics in the 4th quarter valued at about $230,000. 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.