Janux Therapeutics (NASDAQ:JANX) Trading Up 7% – Still a Buy?

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) shot up 7% during trading on Tuesday . The stock traded as high as $57.22 and last traded at $57.21. 47,635 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 600,109 shares. The stock had previously closed at $53.49.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JANX. William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday, December 3rd. HC Wainwright boosted their target price on Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Leerink Partnrs raised Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. Leerink Partners lifted their price target on Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of Janux Therapeutics in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $89.90.

Janux Therapeutics Trading Up 12.2 %

The company’s 50-day moving average price is $54.51 and its two-hundred day moving average price is $48.02. The company has a market cap of $3.15 billion, a P/E ratio of -51.29 and a beta of 3.23.

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

Insider Activity at Janux Therapeutics

In other news, Director Ra Capital Management, L.P. purchased 1,200,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were bought at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the completion of the transaction, the director now directly owns 9,317,246 shares in the company, valued at $416,946,758.50. This trade represents a 14.78 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Hollman Meyer sold 13,334 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $54.88, for a total transaction of $731,769.92. Following the sale, the insider now owns 82,139 shares of the company’s stock, valued at $4,507,788.32. This trade represents a 13.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,177 shares of company stock valued at $5,862,207. Insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in Janux Therapeutics by 136.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 115,027 shares of the company’s stock worth $4,818,000 after buying an additional 66,340 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Janux Therapeutics during the second quarter worth about $151,000. Principal Financial Group Inc. bought a new position in shares of Janux Therapeutics during the 2nd quarter worth approximately $237,000. Rhumbline Advisers increased its stake in Janux Therapeutics by 41.2% in the 2nd quarter. Rhumbline Advisers now owns 38,008 shares of the company’s stock valued at $1,592,000 after buying an additional 11,085 shares during the last quarter. Finally, TD Asset Management Inc acquired a new position in shares of Janux Therapeutics during the 2nd quarter worth approximately $829,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.