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

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) gapped up prior to trading on Monday after an insider bought additional shares in the company. 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 changing hands.

Specifically, Director Ra Capital Management, L.P. bought 110,206 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $31.02 per share, with a total value of $3,418,590.12. Following the completion of the transaction, the director now directly owns 10,141,287 shares in the company, valued at approximately $314,582,722.74. This represents a 1.10 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 341,742 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $30.64 per share, for a total transaction of $10,470,974.88. Following the acquisition, the director now directly owns 9,658,988 shares of the company's stock, valued at $295,951,392.32. This represents a 3.67 % increase in their position. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their price objective on Janux Therapeutics from $70.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. William Blair reaffirmed an "outperform" rating on shares of Janux Therapeutics in a research report on Friday, January 10th. Wedbush reissued an "outperform" rating and set a $76.00 target price (up previously from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. Leerink Partners upped their price target on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Finally, Lifesci Capital raised Janux Therapeutics to a "strong-buy" rating in a research report on Friday, December 27th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $88.00.

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Janux Therapeutics Stock Performance

The firm has a market capitalization of $1.85 billion, a P/E ratio of -26.79 and a beta of 3.23. The stock has a 50 day moving average of $39.47 and a two-hundred day moving average of $47.06.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. Sell-side analysts predict that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Hedge Funds Weigh In On Janux Therapeutics

Large investors have recently made changes to their positions in the business. Plato Investment Management Ltd increased its position in Janux Therapeutics by 18.7% in the 3rd 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. grew its stake in shares of 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 last quarter. GF Fund Management CO. LTD. bought a new position in Janux Therapeutics during the fourth quarter worth $59,000. Avanza Fonder AB acquired a new position in Janux Therapeutics during the 4th quarter valued at $139,000. Finally, Meeder Asset Management Inc. bought a new stake in Janux Therapeutics in the 4th quarter valued at $159,000. 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.