Janux Therapeutics (NASDAQ:JANX) Shares Up 5.5% After Analyst Upgrade

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price rose 5.5% during mid-day trading on Monday after TD Cowen upgraded the stock to a strong-buy rating. The stock traded as high as $18.26 and last traded at $18.3390. Approximately 220,342 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,114,302 shares. The stock had previously closed at $17.39.

Several other equities research analysts also recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Janux Therapeutics in a research report on Monday, July 20th. Wedbush cut their price objective on shares of Janux Therapeutics from $45.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Stifel Nicolaus set a $35.00 target price on Janux Therapeutics in a report on Friday, August 7th. Guggenheim dropped their price target on Janux Therapeutics from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Evercore set a $22.00 price objective on Janux Therapeutics in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.46.

Insider Buying and Selling at Janux Therapeutics

In other news, insider Janeen Noel Doyle sold 4,059 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $14.03, for a total transaction of $56,947.77. Following the sale, the insider owned 75,941 shares in the company, valued at $1,065,452.23. This represents a 5.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 7.90% of the stock is owned by company insiders.

Institutional Trading of Janux Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Janux Therapeutics in the 2nd quarter valued at about $94,228,000. Janus Henderson Group PLC raised its holdings in shares of Janux Therapeutics by 13.8% in the 4th quarter. Janus Henderson Group PLC now owns 5,350,453 shares of the company’s stock valued at $73,850,000 after purchasing an additional 649,341 shares during the period. State Street Corp lifted its stake in Janux Therapeutics by 103.8% in the 4th quarter. State Street Corp now owns 3,853,951 shares of the company’s stock valued at $53,185,000 after purchasing an additional 1,962,486 shares during the last quarter. Vanguard Group Inc. grew its holdings in Janux Therapeutics by 10.4% during the third quarter. Vanguard Group Inc. now owns 2,417,104 shares of the company’s stock worth $59,074,000 after purchasing an additional 227,676 shares during the period. Finally, Prosight Management LP grew its holdings in Janux Therapeutics by 176.5% during the fourth quarter. Prosight Management LP now owns 2,392,523 shares of the company’s stock worth $33,017,000 after purchasing an additional 1,527,173 shares during the period. 75.39% of the stock is owned by institutional investors.

Janux Therapeutics Stock Up 0.4%

The business has a fifty day moving average of $15.85 and a 200 day moving average of $14.70. The firm has a market cap of $1.14 billion, a P/E ratio of -11.39 and a beta of 2.50.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.10). The business had revenue of $10.27 million during the quarter, compared to analysts’ expectations of $19.07 million. Research analysts expect that Janux Therapeutics, Inc. will post -1.76 EPS for the current year.

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.