Janux Therapeutics (NASDAQ:JANX) Issues Earnings Results

Janux Therapeutics (NASDAQ:JANX) posted its quarterly earnings data on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.20, Briefing.com reports. The business had revenue of $8.90 million during the quarter, compared to analyst estimates of $0.77 million. Janux Therapeutics had a negative return on equity of 13.49% and a negative net margin of 762.92%. The firm’s revenue was up 709.1% compared to the same quarter last year.

Janux Therapeutics Stock Performance

Janux Therapeutics stock traded down $0.63 during midday trading on Friday, hitting $35.86. 400,907 shares of the company’s stock were exchanged, compared to its average volume of 763,031. Janux Therapeutics has a 12 month low of $5.65 and a 12 month high of $65.60. The company has a market cap of $1.86 billion, a PE ratio of -29.39 and a beta of 3.57. The firm has a 50-day moving average of $41.96 and a two-hundred day moving average of $38.30.

Insider Transactions at Janux Therapeutics

In other news, Director Jay Lichter sold 1,500,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $82,125,000.00. Following the completion of the transaction, the director now directly owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $37,081,025.25. Following the transaction, the insider now directly owns 3,271,216 shares of the company’s stock, valued at approximately $179,099,076. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jay Lichter sold 1,500,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $82,125,000.00. Following the completion of the sale, the director now owns 633,673 shares of the company’s stock, valued at $34,693,596.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,000,000 shares of company stock valued at $164,250,000. Company insiders own 35.40% of the company’s stock.

Wall Street Analysts Forecast Growth

JANX has been the subject of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of Janux Therapeutics in a research report on Thursday. HC Wainwright lifted their price target on shares of Janux Therapeutics from $50.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Scotiabank decreased their price objective on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a research note on Friday. Jonestrading assumed coverage on Janux Therapeutics in a research note on Tuesday, April 16th. They set a “buy” rating and a $70.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and set a $74.00 price target on shares of Janux Therapeutics in a research note on Thursday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.57.

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.