Janux Therapeutics (NASDAQ:JANX) Trading Up 4.5%

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) were up 4.5% during mid-day trading on Wednesday . The stock traded as high as $39.93 and last traded at $39.84. Approximately 317,100 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 755,281 shares. The stock had previously closed at $38.11.

Analysts Set New Price Targets

JANX has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. HC Wainwright increased their price target on shares of Janux Therapeutics from $50.00 to $63.00 and gave the company a “buy” rating in a report on Monday, May 13th. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday, August 8th. Scotiabank reduced their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. Finally, Jonestrading initiated coverage on shares of Janux Therapeutics in a research report on Tuesday, April 16th. They set a “buy” rating and a $70.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.57.

Janux Therapeutics Price Performance

The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -32.93 and a beta of 3.57. The business’s 50-day simple moving average is $41.38 and its two-hundred day simple moving average is $39.10.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. Janux Therapeutics had a negative net margin of 762.92% and a negative return on equity of 13.49%. The firm had revenue of $8.90 million for the quarter, compared to analyst estimates of $0.77 million. The company’s quarterly revenue was up 709.1% compared to the same quarter last year. Equities research analysts forecast that Janux Therapeutics, Inc. will post -1.34 earnings per share for the current year.

Insider Activity

In other news, CFO Tighe Reardon sold 822,721 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total transaction of $45,043,974.75. Following the completion of the transaction, the chief financial officer now owns 633,673 shares of the company’s stock, valued at $34,693,596.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jay Lichter sold 1,500,000 shares of Janux Therapeutics stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total transaction of $82,125,000.00. Following the completion of the transaction, the director now owns 633,673 shares of the company’s stock, valued at $34,693,596.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Tighe Reardon sold 822,721 shares of Janux Therapeutics stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $45,043,974.75. Following the transaction, the chief financial officer now directly owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,000,000 shares of company stock valued at $164,250,000. Insiders own 35.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Samlyn Capital LLC raised its stake in Janux Therapeutics by 9.6% during the second quarter. Samlyn Capital LLC now owns 324,703 shares of the company’s stock worth $13,602,000 after buying an additional 28,312 shares during the last quarter. Logos Global Management LP raised its stake in Janux Therapeutics by 400.0% during the second quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock worth $31,418,000 after buying an additional 600,000 shares during the last quarter. HighVista Strategies LLC bought a new position in Janux Therapeutics during the second quarter worth $977,000. Profund Advisors LLC bought a new position in Janux Therapeutics during the second quarter worth $598,000. Finally, Ensign Peak Advisors Inc bought a new position in Janux Therapeutics during the second quarter worth $5,571,000. 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.