Janux Therapeutics (NASDAQ:JANX) Stock Price Up 8.9% – Still a Buy?

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price was up 8.9% during mid-day trading on Wednesday . The company traded as high as $31.86 and last traded at $31.86. Approximately 611,200 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 819,550 shares. The stock had previously closed at $29.25.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $70.00 target price on shares of Janux Therapeutics in a report on Monday, March 3rd. Wedbush reissued an “outperform” rating and set a $76.00 price objective (up from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. Scotiabank dropped their target price on shares of Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of Janux Therapeutics in a research report on Wednesday, December 11th. Finally, Stifel Nicolaus raised their price objective 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 issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Janux Therapeutics currently has a consensus rating of “Buy” and an average target price of $88.00.

Janux Therapeutics Stock Performance

The company has a market capitalization of $1.88 billion, a PE ratio of -27.19 and a beta of 3.23. The company’s 50-day moving average is $40.34 and its 200 day moving average is $47.28.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, analysts forecast that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, CEO David Alan Campbell sold 25,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $56.19, for a total value of $1,404,750.00. Following the sale, the chief executive officer now owns 217,054 shares in the company, valued at $12,196,264.26. The trade was a 10.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Hollman Meyer sold 13,334 shares of the stock in a transaction that occurred on 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 directly owns 82,139 shares of the company’s stock, valued at approximately $4,507,788.32. The trade was a 13.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,002 shares of company stock valued at $2,684,703. Insiders own 29.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in JANX. Plato Investment Management Ltd raised its holdings in shares of 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 buying an additional 187 shares during the period. Russell Investments Group Ltd. lifted its stake in Janux Therapeutics by 77.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock worth $54,000 after acquiring an additional 442 shares during the period. GF Fund Management CO. LTD. bought a new position in Janux Therapeutics during the 4th quarter worth about $59,000. Avanza Fonder AB purchased a new position in Janux Therapeutics during the 4th quarter valued at about $139,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Janux Therapeutics in the 4th quarter valued at about $159,000. Hedge funds and other institutional investors own 75.39% of the company’s stock.

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.