Janux Therapeutics (NASDAQ:JANX) Stock Price Up 6.2% – Time to Buy?

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) rose 6.2% on Thursday . The company traded as high as $42.13 and last traded at $42.67. Approximately 60,950 shares traded hands during trading, a decline of 95% from the average daily volume of 1,161,491 shares. The stock had previously closed at $40.18.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of Janux Therapeutics in a research note on Wednesday, December 11th. HC Wainwright increased their price objective on shares of Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Leerink Partners lifted their target price on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Stifel Nicolaus increased their price target on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Lifesci Capital upgraded Janux Therapeutics to a “strong-buy” rating in a report on Friday, December 27th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $89.90.

Janux Therapeutics Stock Performance

The stock has a 50-day moving average of $52.14 and a 200-day moving average of $48.38.

Janux Therapeutics (NASDAQ:JANX) last released its 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). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The company had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. The company’s revenue for the quarter was down 82.6% on a year-over-year basis. Analysts forecast that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 13,334 shares of Janux Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $54.88, for a total value of $731,769.92. Following the transaction, the insider now owns 82,139 shares in the company, valued at $4,507,788.32. The trade was a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Alan Campbell sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the chief executive officer now directly owns 293,054 shares of the company’s stock, valued at approximately $17,583,240. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,334 shares of company stock worth $6,070,020 over the last ninety days. Corporate insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in JANX. Plato Investment Management Ltd raised its position in Janux Therapeutics by 18.7% in the third quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock valued at $54,000 after purchasing an additional 187 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after buying an additional 339 shares during the period. Amalgamated Bank raised its holdings in Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after buying an additional 368 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Janux Therapeutics by 10.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,128 shares of the company’s stock worth $596,000 after buying an additional 1,095 shares during the period. Finally, Virtu Financial LLC grew its holdings in Janux Therapeutics by 48.0% during the 3rd quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock worth $339,000 after acquiring an additional 2,419 shares during the last quarter. 75.39% of the stock is owned by institutional investors.

Janux Therapeutics Company Profile

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.