Janux Therapeutics (NASDAQ:JANX) Reaches New 52-Week High After Analyst Upgrade

Janux Therapeutics, Inc. (NASDAQ:JANX) shares reached a new 52-week high during mid-day trading on Tuesday after Leerink Partners raised their price target on the stock from $79.00 to $91.00. Leerink Partners currently has an outperform 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.

Other equities research analysts have also issued reports about the company. Leerink Partnrs upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. Wedbush reaffirmed an “outperform” rating and set a $74.00 target price on shares of Janux Therapeutics in a report on Thursday, August 8th. BTIG Research raised their price target on shares of Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price objective on shares of Janux Therapeutics in a report on Thursday, November 7th. Finally, Stifel Nicolaus boosted their target price on Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Janux Therapeutics currently has an average rating of “Buy” and an average target price of $77.90.

Insiders Place Their Bets

In other news, insider Andrew Hollman Meyer sold 50,000 shares of Janux Therapeutics stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $45.96, for a total transaction of $2,298,000.00. Following the sale, the insider now owns 67,592 shares in the company, valued at approximately $3,106,528.32. The trade was a 42.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction 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 directly owns 307,054 shares in the company, valued at $14,219,670.74. The trade was a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 460,610 shares of company stock worth $21,583,666 in the last quarter. 29.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Janux Therapeutics

Several institutional investors have recently modified their holdings of JANX. FMR LLC raised its stake in shares of Janux Therapeutics by 0.6% during the 3rd quarter. FMR LLC now owns 7,824,675 shares of the company’s stock worth $355,475,000 after buying an additional 47,075 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Janux Therapeutics by 40.0% during the 3rd quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock valued at $114,587,000 after acquiring an additional 721,563 shares in the last quarter. Vanguard Group Inc. raised 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 acquiring an additional 378,477 shares during the last quarter. Logos Global Management LP lifted its holdings in shares of Janux Therapeutics by 400.0% in the second quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock valued at $31,418,000 after purchasing an additional 600,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Janux Therapeutics by 6.2% in the third quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock valued at $30,107,000 after purchasing an additional 38,490 shares during the last quarter. Hedge funds and other institutional investors own 75.39% of the company’s stock.

Janux Therapeutics Stock Performance

The stock’s 50 day moving average price is $49.60 and its two-hundred day moving average price is $45.72.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly 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 company had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. Janux Therapeutics’s revenue for the quarter was down 82.6% compared to the same quarter last year. As a group, research analysts predict that Janux Therapeutics, Inc. will post -1.35 earnings per share for the current year.

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.