Janux Therapeutics (NASDAQ:JANX) Reaches New 12-Month High on Analyst Upgrade

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price hit a new 52-week high during trading on Tuesday after Leerink Partners raised their price target on the stock from $79.00 to $91.00. Leerink Partners currently has an outperform rating on the stock. Janux Therapeutics traded as high as $67.03 and last traded at $67.03, with a volume of 428739 shares. The stock had previously closed at $40.18.

Several other brokerages have also recently weighed in on JANX. Leerink Partnrs raised Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a report on Tuesday. 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 note on Tuesday. Wedbush reissued an “outperform” rating and issued a $74.00 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 for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Janux Therapeutics presently has an average rating of “Buy” and an average price target of $77.90.

Insider Buying and Selling

In other news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $42.00, for a total value of $4,551,330.00. Following the completion of the sale, the insider now owns 3,162,851 shares of the company’s stock, valued at approximately $132,839,742. This represents a 3.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the transaction, the chief executive officer now directly owns 307,054 shares in the company, valued at approximately $14,219,670.74. The trade was a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 460,610 shares of company stock valued at $21,583,666 over the last quarter. 29.40% of the stock is owned by corporate insiders.

Institutional Trading of Janux Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of JANX. Franklin Resources Inc. raised its position in shares of Janux Therapeutics by 64.5% in the 3rd quarter. Franklin Resources Inc. now owns 18,983 shares of the company’s stock worth $937,000 after acquiring an additional 7,442 shares in the last quarter. Virtu Financial LLC increased its stake in Janux Therapeutics by 48.0% during the 3rd quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock valued at $339,000 after purchasing an additional 2,419 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Janux Therapeutics during the 3rd quarter worth about $940,000. Geode Capital Management LLC boosted its position in Janux Therapeutics by 6.2% in the third quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock valued at $30,107,000 after buying an additional 38,490 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Janux Therapeutics by 496.5% during the third quarter. Barclays PLC now owns 174,061 shares of the company’s stock worth $7,907,000 after purchasing an additional 144,883 shares during the last quarter. Institutional investors own 75.39% of the company’s stock.

Janux Therapeutics Stock Up 49.0 %

The company has a fifty day moving average price of $49.60 and a 200-day moving average price of $45.72.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.50 million. The firm’s revenue for the quarter was down 82.6% compared to the same quarter last year. Sell-side analysts expect that Janux Therapeutics, Inc. will post -1.35 earnings per share for the current 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.