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

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) were up 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 traded hands during mid-day trading, an increase of 12% from the average daily volume of 763,223 shares. The stock had previously closed at $66.84.

Several other equities research analysts also recently commented on JANX. Stifel Nicolaus boosted their target price on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday. HC Wainwright upped their price objective on shares of Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday. Wedbush reiterated an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. Leerink Partners increased their price target on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday. One equities research 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 company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $79.90.

Insider Activity

In other news, CEO David Alan Campbell sold 15,000 shares of Janux Therapeutics stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $67.00, for a total transaction of $1,005,000.00. Following the completion of the sale, the chief executive officer now owns 242,054 shares in the company, valued at $16,217,618. The trade was a 5.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ventures Xi L.P. Avalon sold 2,182 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $42.33, for a total transaction of $92,364.06. Following the completion of the transaction, the insider now owns 7,000 shares in the company, valued at $296,310. This represents a 23.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 352,245 shares of company stock valued at $17,032,336. Company insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd raised its position in shares of Janux Therapeutics by 18.7% in the 3rd quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock valued at $54,000 after acquiring an additional 187 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after purchasing an additional 339 shares during the period. Amalgamated Bank boosted its position in shares of Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after purchasing an additional 368 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Janux Therapeutics in the 2nd quarter valued at $29,000. Finally, Virtu Financial LLC increased its position in shares of Janux Therapeutics by 48.0% in the 3rd quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock valued at $339,000 after buying an additional 2,419 shares in the last quarter. Institutional investors own 75.39% of the company’s stock.

Janux Therapeutics Trading Down 0.8 %

The company has a 50 day moving average of $50.21 and a 200 day moving average of $45.96. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -56.67 and a beta of 3.29.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly 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 business had revenue of $0.44 million for the quarter, compared to analyst estimates of $1.50 million. The firm’s quarterly revenue was down 82.6% compared to the same quarter last year. Equities analysts forecast that Janux Therapeutics, Inc. will post -1.35 EPS for the current fiscal 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.