Janux Therapeutics (NASDAQ:JANX) Hits New 1-Year High After Analyst Upgrade

Janux Therapeutics, Inc. (NASDAQ:JANX) shares reached a new 52-week high during mid-day trading on Tuesday after BTIG Research raised their price target on the stock from $82.00 to $100.00. BTIG Research currently has a buy rating on the stock. Janux Therapeutics traded as high as $67.03 and last traded at $67.03, with a volume of 428739 shares changing hands. The stock had previously closed at $40.18.

Several other analysts have also weighed in on the company. HC Wainwright lifted their price objective on Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday. Leerink Partners began coverage on Janux Therapeutics in a research report on Friday, November 22nd. They set an “outperform” rating and a $79.00 target price for the company. Leerink Partnrs upgraded Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $72.20.

Insider Transactions at Janux Therapeutics

In other Janux Therapeutics news, CEO David Alan Campbell sold 25,000 shares of the company’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 value of $1,157,750.00. Following the sale, the chief executive officer now owns 307,054 shares in the company, valued at $14,219,670.74. This represents a 7.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the company’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 sale, the insider now owns 3,162,851 shares in the company, valued at $132,839,742. This represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 445,610 shares of company stock valued at $20,578,666 over the last three months. Company insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its position in shares of Janux Therapeutics by 40.0% in the third quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock valued at $114,587,000 after purchasing an additional 721,563 shares during the last quarter. Logos Global Management LP grew 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 in the last quarter. Vanguard Group Inc. grew 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. Point72 Asset Management L.P. grew its position in Janux Therapeutics by 190.2% during the third quarter. Point72 Asset Management L.P. now owns 395,875 shares of the company’s stock worth $17,985,000 after buying an additional 259,445 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Janux Therapeutics by 202.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock worth $10,639,000 after buying an additional 156,675 shares in the last quarter. Institutional investors own 75.39% of the company’s stock.

Janux Therapeutics Price Performance

The stock has a 50-day moving average of $49.81 and a 200-day moving average of $45.77. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -34.34 and a beta of 3.30.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The business had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The firm’s revenue was down 82.6% on a year-over-year basis. On average, equities analysts expect that Janux Therapeutics, Inc. will post -1.35 EPS for the current fiscal year.

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.