Janux Therapeutics (NASDAQ:JANX) Trading 5.3% Higher

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) traded up 5.3% on Friday . The company traded as high as $47.00 and last traded at $47.00. 251,854 shares were traded during mid-day trading, a decline of 66% from the average session volume of 730,308 shares. The stock had previously closed at $44.64.

Analyst Ratings Changes

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

Janux Therapeutics Stock Performance

The company's 50 day simple moving average is $41.77 and its 200 day simple moving average is $41.60. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -36.59 and a beta of 3.57.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings data 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. Janux Therapeutics had a negative net margin of 762.92% and a negative return on equity of 13.49%. The company had revenue of $8.90 million during the quarter, compared to analyst estimates of $0.77 million. The company's revenue for the quarter was up 709.1% on a year-over-year basis. Sell-side analysts predict that Janux Therapeutics, Inc. will post -1.34 EPS for the current year.

Insider Activity

In other news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the firm's stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $54.75, for a total transaction of $37,081,025.25. Following the completion of the transaction, the insider now owns 3,271,216 shares in the company, valued at approximately $179,099,076. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the firm's stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $37,081,025.25. Following the completion of the transaction, the insider now directly owns 3,271,216 shares in the company, valued at $179,099,076. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Tighe Reardon sold 822,721 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 633,673 shares of the company's stock, valued at $34,693,596.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,000,000 shares of company stock worth $164,250,000. Corporate insiders own 35.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in shares of Janux Therapeutics in the second quarter worth approximately $5,715,000. Blue Owl Capital Holdings LP purchased a new stake in shares of Janux Therapeutics in the second quarter worth approximately $1,676,000. The Manufacturers Life Insurance Company lifted its position in shares of Janux Therapeutics by 234.7% in the second quarter. The Manufacturers Life Insurance Company now owns 24,048 shares of the company's stock worth $1,007,000 after purchasing an additional 16,864 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Janux Therapeutics in the second quarter worth approximately $215,000. Finally, Samlyn Capital LLC lifted its position in shares of Janux Therapeutics by 9.6% in the second quarter. Samlyn Capital LLC now owns 324,703 shares of the company's stock worth $13,602,000 after purchasing an additional 28,312 shares in the last quarter. 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.

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