Janux Therapeutics (NASDAQ:JANX) Hits New 1-Year High After Analyst Upgrade

Janux Therapeutics, Inc. (NASDAQ:JANX) shares hit a new 52-week high during trading on Tuesday after BTIG Research raised their price target on the stock from $82.00 to $100.00. BTIG Research currently has a buy rating on the stock. Janux Therapeutics traded as high as $67.03 and last traded at $67.03, with a volume of 428739 shares traded. The stock had previously closed at $40.18.

A number of other brokerages also recently issued reports on JANX. UBS Group started coverage on Janux Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $69.00 price objective on the stock. Scotiabank decreased their target price on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a research report on Friday, August 9th. Leerink Partnrs raised Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. Leerink Partners began coverage on Janux Therapeutics in a research report on Friday, November 22nd. They issued an “outperform” rating and a $79.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Janux Therapeutics in a report on Thursday, November 7th. One investment 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 currently has an average rating of “Buy” and an average price target of $72.20.

Insider Activity

In other news, CEO David Alan Campbell sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 307,054 shares in the company, valued at approximately $14,219,670.74. This represents a 7.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 445,610 shares of company stock valued at $20,578,666. 29.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Janux Therapeutics

Several large investors have recently made changes to their positions in the business. Plato Investment Management Ltd lifted its holdings in shares of Janux Therapeutics by 18.7% during the third quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock valued at $54,000 after purchasing an additional 187 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Janux Therapeutics by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after acquiring an additional 339 shares in the last quarter. Amalgamated Bank increased 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 valued at $41,000 after acquiring an additional 368 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Janux Therapeutics during the second quarter valued at approximately $29,000. Finally, Virtu Financial LLC increased its position in shares of Janux Therapeutics by 48.0% during the third quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock valued at $339,000 after acquiring an additional 2,419 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

Janux Therapeutics Price Performance

The company has a market cap of $3.52 billion, a P/E ratio of -34.34 and a beta of 3.30. The company’s 50-day moving average is $49.81 and its two-hundred day moving average is $45.77.

Janux Therapeutics (NASDAQ:JANX) last posted 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). Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The company had revenue of $0.44 million during the quarter, compared to the consensus estimate of $1.50 million. The firm’s revenue was down 82.6% on a year-over-year basis. Equities research analysts anticipate that Janux Therapeutics, Inc. will post -1.35 EPS for the current 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.