Janux Therapeutics (NASDAQ:JANX) Trading 6.6% Higher – Here’s What Happened

by · The Markets Daily

Janux Therapeutics, Inc. (NASDAQ:JANX – Get Free Report) shot up 6.6% during mid-day trading on Tuesday . The company traded as high as $52.62 and last traded at $52.62. 304,033 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 711,626 shares. The stock had previously closed at $49.35.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JANX. Wedbush restated an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $63.00 target price on shares of Janux Therapeutics in a report on Monday, August 19th. Scotiabank lowered their price target on 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 assumed coverage on Janux Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $70.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Janux Therapeutics in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.13.

Get Our Latest Report on JANX

Janux Therapeutics Trading Up 0.8 %

The stock has a market cap of $2.58 billion, a PE ratio of -40.83 and a beta of 3.54. The business’s 50-day moving average price is $45.53 and its 200-day moving average price is $45.30.

Janux Therapeutics (NASDAQ:JANX – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.90 million during the quarter, compared to the consensus estimate of $0.77 million. The firm’s revenue was up 709.1% compared to the same quarter last year. As a group, 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 business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $42.00, for a total value of $4,551,330.00. Following the completion of the sale, the insider now owns 3,162,851 shares of the company’s stock, valued at approximately $132,839,742. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Janux Therapeutics news, CEO David Alan Campbell sold 25,000 shares of the 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 completion of the transaction, the chief executive officer now owns 307,054 shares of the company’s stock, valued at $14,219,670.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $42.00, for a total value of $4,551,330.00. Following the completion of the transaction, the insider now owns 3,162,851 shares in the company, valued at approximately $132,839,742. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 393,767 shares of company stock worth $17,857,979 in the last quarter. Corporate insiders own 35.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Several large investors have recently made changes to their positions in JANX. Capstone Investment Advisors LLC acquired a new stake in Janux Therapeutics during the 1st quarter worth $1,969,000. Lester Murray Antman dba SimplyRich purchased a new stake in shares of Janux Therapeutics in the first quarter valued at approximately $300,000. ProShare Advisors LLC acquired a new stake in shares of Janux Therapeutics in the first quarter valued at approximately $251,000. Lord Abbett & CO. LLC purchased a new position in Janux Therapeutics during the first quarter worth approximately $20,420,000. Finally, 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 in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

About Janux Therapeutics

(Get Free Report)

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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