Janux Therapeutics (NASDAQ:JANX) Stock Price Up 6.9% - Still a Buy?

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report)'s stock price was up 6.9% during mid-day trading on Wednesday . The stock traded as high as $43.79 and last traded at $44.14. Approximately 110,574 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,090,951 shares. The stock had previously closed at $41.31.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on JANX shares. UBS Group assumed coverage on shares of Janux Therapeutics in a research note on Thursday, October 24th. They set a "buy" rating and a $69.00 price objective on the stock. Scotiabank upped their price target on shares of Janux Therapeutics from $42.00 to $62.00 and gave the stock a "sector perform" rating in a research note on Wednesday, December 4th. BTIG Research raised their price objective on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. HC Wainwright upped their target price on Janux Therapeutics from $63.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of Janux Therapeutics in a research note on Wednesday, December 11th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $89.90.

Janux Therapeutics Trading Down 3.2 %

The stock has a 50-day moving average of $51.07 and a two-hundred day moving average of $48.30. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -33.65 and a beta of 3.16.

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

Insider Buying and Selling at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 13,334 shares of Janux Therapeutics 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 of the company's stock, valued at approximately $4,507,788.32. This trade represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the sale, the chief executive officer now owns 257,054 shares of the company's stock, valued at approximately $13,263,986.40. This represents a 8.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,668 shares of company stock valued at $4,872,515 in the last three months. 29.40% of the stock is currently owned by company insiders.

Institutional Trading of Janux Therapeutics

Large investors have recently made changes to their positions in the stock. Plato Investment Management Ltd grew its position 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 valued at $54,000 after purchasing an additional 187 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Janux Therapeutics by 21.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company's stock valued at $87,000 after buying an additional 339 shares during the last quarter. Avanza Fonder AB bought a new position in Janux Therapeutics in the 4th quarter worth approximately $139,000. AQR Capital Management LLC acquired a new position in shares of Janux Therapeutics during the second quarter worth approximately $215,000. Finally, Chicago Capital LLC bought a new stake in shares of Janux Therapeutics in the fourth quarter valued at approximately $230,000. Institutional investors 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.