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

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Scotiabank raised their price target on the stock from $42.00 to $62.00. Scotiabank currently has a sector perform rating on the stock. Janux Therapeutics traded as high as $67.03 and last traded at $67.03, with a volume of 428739 shares trading hands. The stock had previously closed at $40.18.

Several other equities research analysts have also issued reports on JANX. Stifel Nicolaus lifted their price target on Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday. Leerink Partnrs raised Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $74.00 price target on shares of Janux Therapeutics in a research note on Thursday, August 8th. Finally, 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. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $79.90.

Insiders Place Their Bets

In related news, Director Ra Capital Management, L.P. purchased 1,200,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the purchase, the director now directly owns 9,317,246 shares of the company’s stock, valued at approximately $416,946,758.50. This represents a 14.78 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Alan Campbell sold 15,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $67.00, for a total value of $1,005,000.00. Following the sale, the chief executive officer now owns 242,054 shares in the company, valued at approximately $16,217,618. This represents a 5.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 460,610 shares of company stock worth $21,583,666. Company insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Janux Therapeutics by 0.6% in 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 boosted its stake in shares of Janux Therapeutics by 40.0% in the 3rd quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock worth $114,587,000 after buying an additional 721,563 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Janux Therapeutics by 38.6% in the 1st 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 last quarter. Logos Global Management LP boosted its stake in shares of Janux Therapeutics by 400.0% in the 2nd 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 last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Janux Therapeutics by 6.2% in the 3rd quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock worth $30,107,000 after buying an additional 38,490 shares during the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

Janux Therapeutics Trading Up 11.7 %

The stock has a 50 day moving average price of $49.83 and a 200-day moving average price of $45.81. The stock has a market capitalization of $3.51 billion, a PE ratio of -57.12 and a beta of 3.29.

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