Janux Therapeutics (NASDAQ:JANX) Sees Strong Trading Volume – Here’s Why

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) saw unusually-high trading volume on Thursday . Approximately 3,145,843 shares were traded during mid-day trading, an increase of 94% from the previous session’s volume of 1,622,445 shares.The stock last traded at $14.32 and had previously closed at $13.27.

Analyst Upgrades and Downgrades

Several research analysts recently commented on JANX shares. Wall Street Zen raised shares of Janux Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Bank of America decreased their price objective on shares of Janux Therapeutics from $58.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Clear Str cut Janux Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Janux Therapeutics in a research report on Wednesday, October 8th. Finally, Barclays cut their price objective on Janux Therapeutics from $48.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Janux Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $60.08.

Janux Therapeutics Stock Performance

The company has a 50-day simple moving average of $18.80 and a two-hundred day simple moving average of $22.87. The firm has a market capitalization of $895.81 million, a P/E ratio of -8.84 and a beta of 2.88.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.21. The firm had revenue of $10.00 million during the quarter, compared to analysts’ expectations of $3.07 million. As a group, research analysts forecast that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Transactions at Janux Therapeutics

In related news, insider Charles M. Winter sold 2,401 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $13.73, for a total value of $32,965.73. Following the completion of the transaction, the insider directly owned 77,721 shares in the company, valued at $1,067,109.33. This trade represents a 3.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Zachariah Mciver sold 2,714 shares of Janux Therapeutics stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $13.73, for a total transaction of $37,263.22. Following the transaction, the insider directly owned 23,286 shares of the company’s stock, valued at approximately $319,716.78. This trade represents a 10.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 42,364 shares of company stock worth $972,185. 8.10% of the stock is owned by insiders.

Institutional Trading of Janux Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in Janux Therapeutics by 71.7% in the first quarter. AQR Capital Management LLC now owns 9,717 shares of the company’s stock worth $262,000 after acquiring an additional 4,059 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Janux Therapeutics by 18.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,403 shares of the company’s stock valued at $583,000 after purchasing an additional 3,393 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Janux Therapeutics by 12.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,394 shares of the company’s stock valued at $5,033,000 after purchasing an additional 20,657 shares in the last quarter. Aberdeen Group plc raised its holdings in Janux Therapeutics by 26.9% in the second quarter. Aberdeen Group plc now owns 285,288 shares of the company’s stock worth $6,590,000 after buying an additional 60,500 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its holdings in Janux Therapeutics by 111.8% in the second quarter. FNY Investment Advisers LLC now owns 5,210 shares of the company’s stock worth $120,000 after buying an additional 2,750 shares during the last quarter. Hedge funds and other institutional investors own 75.39% of the company’s stock.

About Janux Therapeutics

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.