Janux Therapeutics (NASDAQ:JANX) Trading Up 7.5% – Still a Buy?

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) 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 changed hands during mid-day trading, a decline of 60% from the average session volume of 843,569 shares. The stock had previously closed at $26.81.

Analyst Ratings Changes

JANX has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of Janux Therapeutics in a research note on Wednesday, December 11th. BTIG Research boosted their target price on Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Leerink Partners raised their price target on Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Stifel Nicolaus upped their price objective on Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Lifesci Capital raised Janux Therapeutics to a “strong-buy” rating in a report on Friday, December 27th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $92.44.

Janux Therapeutics Stock Performance

The company has a market capitalization of $1.65 billion, a PE ratio of -23.84 and a beta of 3.23. The stock’s fifty day simple moving average is $35.05 and its 200-day simple moving average is $45.71.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. On average, equities analysts anticipate that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Insider Activity

In related news, Director Ra Capital Management, L.P. purchased 110,206 shares of the business’s stock in a transaction on Friday, March 7th. The shares were bought at an average price of $31.02 per share, with a total value of $3,418,590.12. Following the completion of the purchase, the director now directly owns 10,141,287 shares in the company, valued at approximately $314,582,722.74. This trade represents a 1.10 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Andrew Hollman Meyer sold 3,334 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.29, for a total transaction of $140,994.86. Following the sale, the insider now directly owns 82,139 shares of the company’s stock, valued at $3,473,658.31. This represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,002 shares of company stock valued at $1,279,953 over the last quarter. Company insiders own 29.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in JANX. Russell Investments Group Ltd. increased its stake in Janux Therapeutics by 77.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock worth $54,000 after acquiring an additional 442 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Janux Therapeutics during the 4th quarter worth approximately $59,000. Avanza Fonder AB purchased a new stake in Janux Therapeutics during the fourth quarter worth approximately $139,000. Meeder Asset Management Inc. acquired a new stake in shares of Janux Therapeutics in the fourth quarter worth $159,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Janux Therapeutics by 878.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company’s stock worth $205,000 after purchasing an additional 3,436 shares in the last quarter. 75.39% of the stock is owned by hedge funds and other institutional investors.

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.