Janux Therapeutics (NASDAQ:JANX) Shares Up 7% – Time to Buy?

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

Analysts Set New Price Targets

Several analysts have issued reports on JANX shares. Stifel Nicolaus upped their price objective on Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Leerink Partnrs upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. BTIG Research lifted their price objective on shares of Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Scotiabank raised their target price on shares of Janux Therapeutics from $42.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 4th. Finally, UBS Group initiated coverage on shares of Janux Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target on the stock. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $89.90.

Janux Therapeutics Price Performance

The company has a market cap of $3.15 billion, a P/E ratio of -51.29 and a beta of 3.23. The stock has a 50-day moving average of $54.51 and a 200 day moving average of $48.02.

Janux Therapeutics (NASDAQ:JANX) last released 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 firm had revenue of $0.44 million during the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics’s quarterly revenue was down 82.6% on a year-over-year basis. Sell-side analysts predict that Janux Therapeutics, Inc. will post -1.35 EPS for the current year.

Insider Buying and Selling at Janux Therapeutics

In related news, Director Ra Capital Management, L.P. bought 1,200,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were purchased at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the completion of the transaction, 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 document filed with the SEC, which is available through this link. Also, CEO David Alan Campbell sold 25,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $53.54, for a total transaction of $1,338,500.00. Following the transaction, the chief executive officer now owns 282,054 shares of the company’s stock, valued at $15,101,171.16. This trade represents a 8.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,177 shares of company stock worth $5,862,207 over the last three months. Corporate insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Several hedge funds have recently modified their holdings of JANX. Amalgamated Bank raised its position 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 acquired a new position in shares of Janux Therapeutics in the second quarter valued at approximately $42,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Janux Therapeutics during the 2nd quarter worth approximately $151,000. Finally, AQR Capital Management LLC bought a new stake in Janux Therapeutics during the 2nd quarter worth approximately $215,000. 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.