Janux Therapeutics (NASDAQ:JANX) Trading 6.2% Higher - Here's What Happened

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) shares shot up 6.2% on Thursday . The company traded as high as $42.13 and last traded at $42.67. 60,950 shares were traded during trading, a decline of 95% from the average session volume of 1,161,491 shares. The stock had previously closed at $40.18.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. HC Wainwright raised their price target on Janux Therapeutics from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Leerink Partners raised their target price on Janux Therapeutics from $79.00 to $91.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Stifel Nicolaus upped their price target on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. BTIG Research raised their price objective on shares of Janux Therapeutics from $82.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 target price on shares of Janux Therapeutics in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $89.90.

Janux Therapeutics Stock Performance

The company's 50-day moving average price is $52.14 and its 200 day moving average price is $48.38. The stock has a market capitalization of $2.31 billion, a P/E ratio of -37.70 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics's revenue was down 82.6% compared to the same quarter last year. Analysts predict that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Activity at Janux Therapeutics

In other Janux Therapeutics news, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction on Monday, October 28th. The shares were sold at an average price of $53.54, for a total value of $1,338,500.00. Following the sale, the chief executive officer now directly owns 282,054 shares in the company, valued at approximately $15,101,171.16. The trade was a 8.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Hollman Meyer sold 13,334 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $54.88, for a total transaction of $731,769.92. Following the completion of the sale, the insider now owns 82,139 shares in the company, valued at approximately $4,507,788.32. The trade was a 13.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,334 shares of company stock valued at $6,070,020. 29.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its holdings in shares of Janux Therapeutics by 61.1% during the 2nd quarter. Amalgamated Bank now owns 970 shares of the company's stock worth $41,000 after acquiring an additional 368 shares in the last quarter. Plato Investment Management Ltd increased its position in 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 purchasing an additional 187 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Janux Therapeutics by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company's stock valued at $87,000 after purchasing an additional 339 shares in the last quarter. Avanza Fonder AB purchased a new stake in Janux Therapeutics during the fourth quarter valued at $139,000. Finally, AQR Capital Management LLC bought a new position in Janux Therapeutics during the second quarter valued at $215,000. 75.39% of the stock is owned by institutional investors.

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.