Janux Therapeutics (NASDAQ:JANX) Stock Price Up 6.3% - Here's Why

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) traded up 6.3% on Monday . The stock traded as high as $58.06 and last traded at $57.81. 333,892 shares changed hands during trading, a decline of 53% from the average session volume of 710,558 shares. The stock had previously closed at $54.39.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wedbush restated an "outperform" rating and set a $74.00 target price on shares of Janux Therapeutics in a report on Thursday, August 8th. UBS Group started coverage on Janux Therapeutics in a research report on Thursday, October 24th. They set a "buy" rating and a $69.00 target price for the company. Scotiabank reduced their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a "sector perform" rating on the stock in a research report on Friday, August 9th. Stifel Nicolaus initiated coverage on shares of Janux Therapeutics in a research report on Friday, September 6th. They set a "buy" rating and a $70.00 price target on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $63.00 price objective on shares of Janux Therapeutics in a report on Monday, August 19th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $66.44.

Janux Therapeutics Price Performance

The company's 50 day simple moving average is $48.28 and its 200 day simple moving average is $46.19. The stock has a market cap of $2.91 billion, a P/E ratio of -61.40 and a beta of 3.52.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.20. The business had revenue of $8.90 million during the quarter, compared to analysts' expectations of $0.77 million. Janux Therapeutics had a negative net margin of 291.17% and a negative return on equity of 8.78%. The company's quarterly revenue was up 709.1% on a year-over-year basis. On average, equities research analysts predict that Janux Therapeutics, Inc. will post -1.18 earnings per share for the current year.

Insider Activity

In related news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the sale, the insider now directly owns 3,162,851 shares in the company, valued at $132,839,742. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Janux Therapeutics news, CEO David Alan Campbell sold 25,000 shares of the business's stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the transaction, the chief executive officer now owns 307,054 shares of the company's stock, valued at $14,219,670.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the completion of the transaction, the insider now directly owns 3,162,851 shares in the company, valued at approximately $132,839,742. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 420,610 shares of company stock worth $19,288,666 in the last 90 days. Corporate insiders own 29.40% of the company's stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of large investors have recently made changes to their positions in JANX. Summit Securities Group LLC acquired a new stake in Janux Therapeutics during the second quarter worth about $29,000. Amalgamated Bank boosted its stake in Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company's stock worth $41,000 after acquiring an additional 368 shares in the last quarter. Plato Investment Management Ltd acquired a new position in Janux Therapeutics during the 2nd quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. grew its position in Janux Therapeutics by 21.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company's stock valued at $87,000 after purchasing an additional 339 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Janux Therapeutics in the 2nd quarter valued at about $151,000. Institutional investors own 75.39% of the company's stock.

Janux Therapeutics Company Profile

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.