Insider Buying: Janux Therapeutics, Inc. (NASDAQ:JANX) Director Purchases 1,200,000 Shares of Stock

Janux Therapeutics, Inc. (NASDAQ:JANX) Director Ra Capital Management, L.P. acquired 1,200,000 shares of the stock in a transaction on Friday, October 18th. The stock was bought at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the transaction, the director now owns 9,317,246 shares in the company, valued at approximately $416,946,758.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Janux Therapeutics Price Performance

Shares of NASDAQ:JANX traded up $2.34 during trading on Tuesday, reaching $52.83. The company had a trading volume of 222,008 shares, compared to its average volume of 710,543. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -40.83 and a beta of 3.54. The stock’s fifty day moving average price is $46.09 and its 200 day moving average price is $45.63. Janux Therapeutics, Inc. has a fifty-two week low of $5.65 and a fifty-two week high of $65.60.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The firm had revenue of $8.90 million for the quarter, compared to analyst estimates of $0.77 million. The company’s quarterly revenue was up 709.1% compared to the same quarter last year. On average, equities analysts anticipate that Janux Therapeutics, Inc. will post -1.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in Janux Therapeutics by 1.8% during the first quarter. Janus Henderson Group PLC now owns 1,965,546 shares of the company’s stock worth $73,961,000 after acquiring an additional 34,069 shares during the period. Vanguard Group Inc. lifted its position in Janux Therapeutics by 38.6% during the first quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after buying an additional 378,477 shares during the period. Logos Global Management LP lifted its position in Janux Therapeutics by 400.0% during the second quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock worth $31,418,000 after buying an additional 600,000 shares during the period. Lord Abbett & CO. LLC purchased a new position in Janux Therapeutics during the first quarter worth about $20,420,000. Finally, Samlyn Capital LLC lifted its position in Janux Therapeutics by 9.6% during the second quarter. Samlyn Capital LLC now owns 324,703 shares of the company’s stock worth $13,602,000 after buying an additional 28,312 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on JANX shares. Wedbush reissued an “outperform” rating and set a $74.00 price objective on shares of Janux Therapeutics in a research report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $63.00 target price on shares of Janux Therapeutics in a research report on Monday, August 19th. Stifel Nicolaus started coverage on Janux Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $70.00 price objective for the company. Scotiabank decreased their price objective on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price objective on shares of Janux Therapeutics in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.13.

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.