Short Interest in Janux Therapeutics, Inc. (NASDAQ:JANX) Drops By 11.2%

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 3,250,000 shares, a decrease of 11.2% from the July 31st total of 3,660,000 shares. Based on an average daily volume of 681,000 shares, the days-to-cover ratio is presently 4.8 days. Currently, 8.6% of the company's shares are sold short.

Janux Therapeutics Stock Up 5.2 %

Shares of Janux Therapeutics stock traded up $2.34 during trading hours on Friday, hitting $46.98. 423,888 shares of the company's stock traded hands, compared to its average volume of 477,584. The stock has a 50 day simple moving average of $41.89 and a 200-day simple moving average of $42.34. The company has a market cap of $2.44 billion, a PE ratio of -38.51 and a beta of 3.57. Janux Therapeutics has a twelve month low of $5.65 and a twelve month high of $65.60.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.20. The company had revenue of $8.90 million during the quarter, compared to the consensus estimate of $0.77 million. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The firm's quarterly revenue was up 709.1% compared to the same quarter last year. As a group, equities research analysts predict that Janux Therapeutics will post -1.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday, August 8th. Wedbush reiterated an "outperform" rating and issued a $74.00 price target on shares of Janux Therapeutics in a report on Thursday, August 8th. HC Wainwright reiterated a "buy" rating and issued a $63.00 price target on shares of Janux Therapeutics in a report on Monday, August 19th. Finally, Scotiabank lowered their price target on Janux Therapeutics from $47.00 to $42.00 and set a "sector perform" rating for the company in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Janux Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $65.57.

Insiders Place Their Bets

In other Janux Therapeutics news, CFO Tighe Reardon sold 822,721 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $45,043,974.75. Following the transaction, the chief financial officer now owns 633,673 shares of the company's stock, valued at approximately $34,693,596.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Janux Therapeutics news, Director Jay Lichter sold 1,500,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $82,125,000.00. Following the transaction, the director now owns 633,673 shares of the company's stock, valued at approximately $34,693,596.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Tighe Reardon sold 822,721 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $45,043,974.75. Following the transaction, the chief financial officer now directly owns 633,673 shares in the company, valued at approximately $34,693,596.75. The disclosure for this sale can be found here. Insiders have sold a total of 3,000,000 shares of company stock valued at $164,250,000 in the last quarter. 35.40% of the stock is currently owned by company insiders.

Institutional Trading of Janux Therapeutics

Several large investors have recently modified their holdings of JANX. Swiss National Bank lifted its position in shares of Janux Therapeutics by 39.5% during the fourth quarter. Swiss National Bank now owns 31,800 shares of the company's stock worth $341,000 after purchasing an additional 9,000 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Janux Therapeutics during the fourth quarter worth about $553,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Janux Therapeutics by 82.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,743 shares of the company's stock worth $367,000 after purchasing an additional 4,400 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Janux Therapeutics during the first quarter worth about $1,969,000. Finally, Lester Murray Antman dba SimplyRich bought a new position in shares of Janux Therapeutics during the first quarter worth about $300,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.