Janux Therapeutics (NASDAQ:JANX) Shares Up 7% - Still a Buy?

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) shot up 7% during trading on Tuesday . The company traded as high as $57.22 and last traded at $57.21. 47,635 shares changed hands during trading, a decline of 92% from the average session volume of 600,109 shares. The stock had previously closed at $53.49.

Wall Street Analysts Forecast Growth

JANX has been the subject of a number of research reports. Lifesci Capital raised shares of Janux Therapeutics to a "strong-buy" rating in a report on Friday, December 27th. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 target price on shares of Janux Therapeutics in a research report on Wednesday, December 11th. UBS Group started coverage on shares of Janux Therapeutics in a research note on Thursday, October 24th. They set a "buy" rating and a $69.00 price target on the stock. Scotiabank upped their target price on shares of Janux Therapeutics from $42.00 to $62.00 and gave the company a "sector perform" rating in a research note on Wednesday, December 4th. Finally, William Blair restated an "outperform" rating on shares of Janux Therapeutics in a research note on Tuesday, December 3rd. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $89.90.

Janux Therapeutics Stock Performance

The firm has a fifty day simple moving average of $54.58 and a 200-day simple moving average of $48.14. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -49.41 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $0.44 million for the quarter, compared to analyst estimates of $1.50 million. The business's revenue was down 82.6% on a year-over-year basis. Analysts expect that Janux Therapeutics, Inc. will post -1.35 earnings per share for the current fiscal year.

Insider Transactions at Janux Therapeutics

In other news, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of Janux Therapeutics stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $50.02, for a total transaction of $92,186.86. Following the completion of the sale, the insider now owns 6,371 shares of the company's stock, valued at approximately $318,677.42. This trade represents a 22.44 % decrease in their ownership of the stock. The transaction 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 1,200,000 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the completion of the purchase, the director now directly owns 9,317,246 shares of the company's stock, valued at $416,946,758.50. This represents a 14.78 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 105,177 shares of company stock worth $5,862,207 over the last quarter. Company insiders own 29.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in Janux Therapeutics by 136.3% in the second quarter. Bank of New York Mellon Corp now owns 115,027 shares of the company's stock valued at $4,818,000 after purchasing an additional 66,340 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Janux Therapeutics during the 2nd quarter worth approximately $151,000. Principal Financial Group Inc. acquired a new stake in shares of Janux Therapeutics during the 2nd quarter worth approximately $237,000. Rhumbline Advisers increased its stake in Janux Therapeutics by 41.2% in the second quarter. Rhumbline Advisers now owns 38,008 shares of the company's stock valued at $1,592,000 after acquiring an additional 11,085 shares during the last quarter. Finally, TD Asset Management Inc bought a new position in Janux Therapeutics in the second quarter valued at approximately $829,000. 75.39% of the stock is owned by 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.