Janux Therapeutics (NASDAQ:JANX) Sees Unusually-High Trading Volume Following Analyst Upgrade

Janux Therapeutics, Inc. (NASDAQ:JANX) shares saw unusually-strong trading volume on Wednesday 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. Approximately 874,982 shares were traded during trading, an increase of 17% from the previous session’s volume of 749,550 shares.The stock last traded at $62.16 and had previously closed at $59.86.

Other research analysts have also recently issued reports about the company. Leerink Partnrs raised Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. UBS Group started coverage on Janux Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $69.00 target price for the company. Leerink Partners upped their target price on Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a research report on Tuesday. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday. Finally, Stifel Nicolaus upped their target price on Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $79.90.

Insider Buying and Selling at Janux Therapeutics

In other news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the completion of the transaction, the insider now directly 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 filing with the SEC, which is accessible through this hyperlink. Also, Director Ra Capital Management, L.P. bought 1,200,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were acquired at an average cost of $44.75 per share, with a total value of $53,700,000.00. Following the completion of the purchase, the director now owns 9,317,246 shares in the company, valued at approximately $416,946,758.50. This represents a 14.78 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 460,610 shares of company stock valued at $21,583,666 in the last ninety days. Insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

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

Janux Therapeutics Trading Up 11.7 %

The firm has a 50 day moving average of $49.83 and a two-hundred day moving average of $45.81. The stock has a market capitalization of $3.51 billion, a PE ratio of -57.12 and a beta of 3.29.

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 company had revenue of $0.44 million for 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 company’s revenue was down 82.6% on a year-over-year basis. Equities research analysts forecast that Janux Therapeutics, Inc. will post -1.35 EPS 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.