Janux Therapeutics (NASDAQ:JANX) Shares Gap Up on Insider Buying Activity

Janux Therapeutics, Inc. (NASDAQ:JANX) gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $30.64, but opened at $31.26. Janux Therapeutics shares last traded at $30.47, with a volume of 89,676 shares.

Specifically, Director Ra Capital Management, L.P. bought 110,206 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $31.02 per share, for a total transaction of $3,418,590.12. Following the acquisition, the director now directly owns 10,141,287 shares of the company’s stock, valued at $314,582,722.74. The trade was a 1.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. acquired 341,742 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $30.64 per share, with a total value of $10,470,974.88. Following the transaction, the director now directly owns 9,658,988 shares in the company, valued at $295,951,392.32. The trade was a 3.67 % increase in their position. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating and set a $76.00 price objective (up previously from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Janux Therapeutics in a report on Monday, March 3rd. Leerink Partners boosted their price objective on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $88.00.

Janux Therapeutics Stock Performance

The firm’s 50-day moving average is $41.27 and its 200 day moving average is $47.50. The firm has a market capitalization of $1.79 billion, a P/E ratio of -25.96 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Thursday, February 27th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. As a group, research analysts expect that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in JANX. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Janux Therapeutics during the fourth quarter worth $2,477,000. GF Fund Management CO. LTD. acquired a new position in shares of Janux Therapeutics during the 4th quarter worth about $59,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Janux Therapeutics by 532.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,737 shares of the company’s stock valued at $8,874,000 after purchasing an additional 139,543 shares during the period. Woodline Partners LP lifted its stake in Janux Therapeutics by 15.7% in the 4th quarter. Woodline Partners LP now owns 1,852,187 shares of the company’s stock valued at $99,166,000 after purchasing an additional 251,924 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Janux Therapeutics by 155.1% during the fourth quarter. Squarepoint Ops LLC now owns 41,176 shares of the company’s stock worth $2,205,000 after purchasing an additional 25,034 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.