Short Interest in Janux Therapeutics, Inc. (NASDAQ:JANX) Increases By 43.1%

Janux Therapeutics, Inc. (NASDAQ:JANX) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 6,410,000 shares, a growth of 43.1% from the November 30th total of 4,480,000 shares. Based on an average daily volume of 949,600 shares, the short-interest ratio is currently 6.8 days. Currently, 13.6% of the shares of the stock are sold short.

Janux Therapeutics Trading Down 2.4 %

Shares of JANX stock traded down $1.32 during trading hours on Monday, hitting $52.78. 298,023 shares of the company were exchanged, compared to its average volume of 782,303. The company has a market capitalization of $2.77 billion, a PE ratio of -45.11 and a beta of 3.29. The business has a 50 day moving average of $54.43 and a two-hundred day moving average of $47.50. Janux Therapeutics has a 52 week low of $7.79 and a 52 week high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The company had revenue of $0.44 million during the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business’s revenue for the quarter was down 82.6% compared to the same quarter last year. On average, research analysts forecast that Janux Therapeutics will post -1.35 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Scotiabank increased their price target on shares of Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 4th. Lifesci Capital upgraded Janux Therapeutics to a “strong-buy” rating in a research report on Friday. Leerink Partnrs upgraded Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday, December 3rd. Finally, Leerink Partners lifted their price target on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Janux Therapeutics has a consensus rating of “Buy” and a consensus price target of $89.90.

Insider Activity at Janux Therapeutics

In other Janux Therapeutics news, Director Ra Capital Management, L.P. purchased 1,200,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average cost of $44.75 per share, with a total value of $53,700,000.00. Following the completion of the acquisition, the director now directly owns 9,317,246 shares of the company’s stock, valued at $416,946,758.50. This represents a 14.78 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $50.02, for a total transaction of $92,186.86. Following the transaction, the insider now owns 6,371 shares in the company, valued at approximately $318,677.42. This trade represents a 22.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,843 shares of company stock valued at $5,130,437 in the last ninety days. Insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of large investors have recently made changes to their positions in JANX. Charles Schwab Investment Management Inc. raised its holdings in Janux Therapeutics by 202.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock valued at $10,639,000 after acquiring an additional 156,675 shares in the last quarter. Ally Bridge Group NY LLC bought a new position in Janux Therapeutics in the 3rd quarter valued at about $4,943,000. Algert Global LLC bought a new position in Janux Therapeutics in the third quarter valued at approximately $1,112,000. FMR LLC raised its position in Janux Therapeutics by 0.6% during the third quarter. FMR LLC now owns 7,824,675 shares of the company’s stock valued at $355,475,000 after purchasing an additional 47,075 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Janux Therapeutics during the third quarter worth $940,000. Institutional investors 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.