Janux Therapeutics (NASDAQ:JANX) Shares Up 8.9% - What's Next?

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) shares rose 8.9% on Wednesday . The stock traded as high as $31.86 and last traded at $31.86. Approximately 611,200 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 819,550 shares. The stock had previously closed at $29.25.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on JANX shares. Wedbush reiterated an "outperform" rating and set a $76.00 price target (up previously from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. BTIG Research boosted their price target on Janux Therapeutics from $82.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 price objective on shares of Janux Therapeutics in a research note on Wednesday, December 11th. Stifel Nicolaus boosted their price objective on Janux Therapeutics from $70.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Finally, HC Wainwright restated a "buy" rating and set a $70.00 target price on shares of Janux Therapeutics in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $92.44.

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Janux Therapeutics Stock Down 2.1 %

The stock has a market cap of $1.81 billion, a PE ratio of -26.22 and a beta of 3.23. The firm's fifty day moving average price is $39.00 and its 200 day moving average price is $46.97.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. As a group, analysts anticipate that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 3,334 shares of Janux Therapeutics stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.29, for a total transaction of $140,994.86. Following the completion of the transaction, the insider now directly owns 82,139 shares of the company's stock, valued at $3,473,658.31. The trade was a 3.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Alan Campbell sold 5,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief executive officer now directly owns 293,054 shares in the company, valued at approximately $17,583,240. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,002 shares of company stock valued at $2,684,703 over the last ninety days. 29.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. raised its stake in shares of Janux Therapeutics by 13.1% during the fourth quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company's stock valued at $554,977,000 after acquiring an additional 1,200,000 shares in the last quarter. Paradigm Biocapital Advisors LP raised its position in Janux Therapeutics by 46.5% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company's stock valued at $188,246,000 after purchasing an additional 1,115,412 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Janux Therapeutics by 41.2% during the 4th quarter. Janus Henderson Group PLC now owns 3,562,402 shares of the company's stock worth $190,617,000 after buying an additional 1,038,996 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Janux Therapeutics by 47.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company's stock valued at $163,926,000 after buying an additional 986,750 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Janux Therapeutics by 596.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,109,978 shares of the company's stock worth $59,429,000 after acquiring an additional 950,557 shares in the last quarter. 75.39% of the stock is owned by hedge funds and other institutional investors.

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.