Janux Therapeutics (NASDAQ:JANX) Shares Up 4.9%

Janux Therapeutics, Inc. (NASDAQ:JANX) shares shot up 4.9% during mid-day trading on Tuesday . The stock traded as high as $44.36 and last traded at $43.90. 32,743 shares were traded during trading, a decline of 95% from the average session volume of 718,897 shares. The stock had previously closed at $41.85.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $63.00 price target on shares of Janux Therapeutics in a report on Monday, August 19th. Wedbush restated an “outperform” rating and issued a $74.00 price target on shares of Janux Therapeutics in a report on Thursday, August 8th. Stifel Nicolaus began coverage on shares of Janux Therapeutics in a research report on Friday. They set a “buy” rating and a $70.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. Finally, Scotiabank dropped their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.13.

Janux Therapeutics Stock Performance

The company’s fifty day simple moving average is $42.19 and its two-hundred day simple moving average is $43.72. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -38.00 and a beta of 3.57.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. Janux Therapeutics had a negative net margin of 291.17% and a negative return on equity of 8.78%. The firm had revenue of $8.90 million during the quarter, compared to the consensus estimate of $0.77 million. The business’s quarterly revenue was up 709.1% on a year-over-year basis. Sell-side analysts anticipate that Janux Therapeutics, Inc. will post -1.17 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JANX. Summit Securities Group LLC acquired a new position in shares of Janux Therapeutics during the second quarter valued at $29,000. Amalgamated Bank lifted its position in Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after purchasing an additional 368 shares during the last quarter. Plato Investment Management Ltd acquired a new position in Janux Therapeutics during the 2nd quarter valued at about $42,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Janux Therapeutics in the 2nd quarter worth about $151,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Janux Therapeutics in the second quarter valued at approximately $215,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.