Janux Therapeutics (NASDAQ:JANX) Sees Large Volume Increase

Janux Therapeutics, Inc. (NASDAQ:JANX) shares saw unusually-strong trading volume on Wednesday . Approximately 618,332 shares traded hands during trading, a decline of 19% from the previous session’s volume of 766,158 shares.The stock last traded at $41.30 and had previously closed at $41.23.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. HC Wainwright boosted their price target on Janux Therapeutics from $50.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Wedbush increased their price target on Janux Therapeutics from $53.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Scotiabank assumed coverage on shares of Janux Therapeutics in a research report on Thursday, May 30th. They set a “sector perform” rating and a $47.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 target price on shares of Janux Therapeutics in a research note on Thursday, May 9th. Finally, Jonestrading assumed coverage on shares of Janux Therapeutics in a research note on Tuesday, April 16th. They set a “buy” rating and a $70.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.29.

Janux Therapeutics Stock Performance

The company has a 50 day moving average price of $43.34 and a 200 day moving average price of $37.17.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. Janux Therapeutics had a negative net margin of 762.92% and a negative return on equity of 13.49%. The firm had revenue of $1.25 million during the quarter, compared to the consensus estimate of $0.98 million. As a group, research analysts expect that Janux Therapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Insider Activity at Janux Therapeutics

In other news, CFO Tighe Reardon sold 822,721 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $45,043,974.75. Following the completion of the transaction, the chief financial officer now owns 633,673 shares of the company’s stock, valued at $34,693,596.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Tighe Reardon sold 822,721 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $45,043,974.75. Following the completion of the sale, the chief financial officer now directly owns 633,673 shares in the company, valued at approximately $34,693,596.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jay Lichter sold 1,500,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $82,125,000.00. Following the sale, the director now owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,000,000 shares of company stock valued at $164,250,000. 35.40% of the stock is owned by insiders.

Institutional Trading of Janux Therapeutics

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Janux Therapeutics during the 4th quarter worth $100,000. China Universal Asset Management Co. Ltd. acquired a new position in Janux Therapeutics during the fourth quarter valued at $57,000. Nisa Investment Advisors LLC lifted its position in Janux Therapeutics by 10,740.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the company’s stock worth $29,000 after buying an additional 2,685 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Janux Therapeutics by 2,166.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 26,264 shares of the company’s stock valued at $282,000 after purchasing an additional 25,105 shares in the last quarter. Finally, Cerity Partners LLC acquired a new position in Janux Therapeutics in the fourth quarter worth approximately $654,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.