Janux Therapeutics (NASDAQ:JANX) Trading 5.8% Higher Following Analyst Upgrade

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price rose 5.8% during trading on Thursday 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 $70.99 and last traded at $70.73. Approximately 852,981 shares changed hands during trading, an increase of 12% from the average daily volume of 763,223 shares. The stock had previously closed at $66.84.

JANX has been the subject of several other research reports. HC Wainwright increased their price target on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday. William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price objective on shares of Janux Therapeutics in a report on Thursday, November 7th. Leerink Partners lifted their target price on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Stifel Nicolaus increased their price target on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Janux Therapeutics has an average rating of “Buy” and an average price target of $79.90.

Insider Transactions at Janux Therapeutics

In other news, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were 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 directly owns 307,054 shares in the company, valued at approximately $14,219,670.74. This trade represents a 7.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew Hollman Meyer sold 50,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 67,592 shares of the company’s stock, valued at approximately $3,106,528.32. The trade was a 42.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 460,610 shares of company stock valued at $21,583,666. 29.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Janux Therapeutics

A number of institutional investors have recently bought and sold shares of JANX. Summit Securities Group LLC acquired a new stake in shares of Janux Therapeutics during the 2nd quarter worth about $29,000. Amalgamated Bank increased its stake in Janux Therapeutics by 61.1% in the second 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 purchased a new stake in shares of Janux Therapeutics during the 2nd quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Janux Therapeutics by 21.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after buying an additional 339 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Janux Therapeutics in the 2nd quarter valued at $151,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

Janux Therapeutics Stock Up 2.7 %

The company has a market cap of $3.60 billion, a PE ratio of -60.45 and a beta of 3.29. The firm has a fifty day simple moving average of $49.83 and a 200-day simple moving average of $45.81.

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). 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 for the quarter was down 82.6% on a year-over-year basis. Equities research analysts forecast that Janux Therapeutics, Inc. will post -1.35 earnings per share for the current fiscal 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.