Janux Therapeutics (NASDAQ:JANX) Shares Up 7.5% – Time to Buy?

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) traded up 7.5% during trading on Wednesday . The stock traded as high as $28.83 and last traded at $28.83. 340,271 shares changed hands during trading, a decline of 60% from the average session volume of 843,569 shares. The stock had previously closed at $26.81.

Analyst Ratings Changes

Several brokerages have issued reports on JANX. Wedbush restated an “outperform” rating and set a $76.00 price objective (up previously from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. Scotiabank reduced their price objective on Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus boosted their target price on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research report on Friday, January 10th. Finally, Leerink Partners boosted their price objective on shares of Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Janux Therapeutics has an average rating of “Buy” and an average price target of $92.44.

Janux Therapeutics Stock Up 4.0 %

The firm’s 50 day simple moving average is $35.05 and its 200 day simple moving average is $45.71. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -23.84 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Thursday, February 27th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. Analysts anticipate that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Insider Activity at Janux Therapeutics

In other news, Director Ra Capital Management, L.P. acquired 341,742 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $30.64 per share, with a total value of $10,470,974.88. Following the purchase, the director now owns 9,658,988 shares of the company’s stock, valued at approximately $295,951,392.32. This represents a 3.67 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew Hollman Meyer sold 3,334 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.29, for a total value of $140,994.86. Following the transaction, the insider now directly owns 82,139 shares of the company’s stock, valued at $3,473,658.31. This represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,002 shares of company stock worth $1,279,953 over the last ninety days. 29.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of JANX. Russell Investments Group Ltd. lifted its stake in Janux Therapeutics by 77.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock valued at $54,000 after purchasing an additional 442 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Janux Therapeutics during the 4th quarter valued at $59,000. Avanza Fonder AB bought a new stake in shares of Janux Therapeutics during the 4th quarter worth $139,000. Meeder Asset Management Inc. bought a new stake in shares of Janux Therapeutics during the 4th quarter worth $159,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Janux Therapeutics by 878.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company’s stock worth $205,000 after acquiring an additional 3,436 shares during the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.

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.