Janux Therapeutics (NASDAQ:JANX) Trading Up 7.5% - Here's Why

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report)'s share price traded up 7.5% during trading on Wednesday . The stock traded as high as $28.83 and last traded at $28.83. 340,271 shares traded hands during trading, a decline of 60% from the average session volume of 843,569 shares. The stock had previously closed at $26.81.

Wall Street Analysts Forecast Growth

JANX has been the topic of several recent analyst reports. Wedbush reissued an "outperform" rating and set a $76.00 target price (up previously from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. William Blair reaffirmed an "outperform" rating on shares of Janux Therapeutics in a research note on Friday, January 10th. HC Wainwright reissued a "buy" rating and issued a $70.00 price target on shares of Janux Therapeutics in a report on Monday, March 3rd. Scotiabank lowered their price objective on shares of Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $200.00 target price on shares of Janux Therapeutics in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $92.44.

Janux Therapeutics Trading Down 5.4 %

The company's 50-day moving average is $34.09 and its 200 day moving average is $45.24. The firm has a market cap of $1.44 billion, a PE ratio of -20.84 and a beta of 3.27.

Remove Ads

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share 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%. On average, research analysts predict that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Insider Activity

In other news, Director Ra Capital Management, L.P. acquired 341,742 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $30.64 per share, for a total transaction of $10,470,974.88. Following the completion of the acquisition, the director now owns 9,658,988 shares in the company, valued at approximately $295,951,392.32. The trade was a 3.67 % increase 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, CEO David Alan Campbell sold 5,000 shares of the business's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer now owns 293,054 shares in the company, valued at $17,583,240. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,668 shares of company stock worth $548,183 in the last 90 days. Company insiders own 29.40% of the company's stock.

Hedge Funds Weigh In On Janux Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Janux Therapeutics by 1,574.0% during the 1st quarter. GAMMA Investing LLC now owns 1,674 shares of the company's stock valued at $45,000 after purchasing an additional 1,574 shares in the last quarter. Russell Investments Group Ltd. lifted its position 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 buying an additional 442 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Janux Therapeutics during the 4th quarter valued at about $59,000. Avanza Fonder AB bought a new position in shares of Janux Therapeutics in the 4th quarter valued at approximately $139,000. Finally, Meeder Asset Management Inc. acquired a new stake in Janux Therapeutics in the 4th quarter worth approximately $159,000. 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.