Janux Therapeutics (NASDAQ:JANX) Trading 7.5% Higher – Time to Buy?

Janux Therapeutics, Inc. (NASDAQ:JANX) shot up 7.5% 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.

Wall Street Analysts Forecast Growth

Several research firms have commented on JANX. Lifesci Capital upgraded Janux Therapeutics to a “strong-buy” rating in a report on Friday, December 27th. Scotiabank dropped their price target on shares of Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of Janux Therapeutics in a research note on Wednesday, December 11th. Wedbush reissued an “outperform” rating and set a $76.00 price objective (up from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. Finally, William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $92.44.

Janux Therapeutics Stock Down 4.5 %

The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -22.03 and a beta of 3.23. The business has a 50 day moving average price of $34.46 and a 200-day moving average price of $45.46.

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

Insider Buying and Selling at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 3,334 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.29, for a total value of $140,994.86. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ra Capital Management, L.P. acquired 341,742 shares of Janux Therapeutics stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $30.64 per share, for a total transaction of $10,470,974.88. Following the completion of the purchase, the director now directly owns 9,658,988 shares in the company, valued at $295,951,392.32. The trade was a 3.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 11,668 shares of company stock valued at $548,183 in the last ninety days. Insiders own 29.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. RA Capital Management L.P. lifted its stake in Janux Therapeutics by 13.1% during the fourth quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company’s stock worth $554,977,000 after purchasing an additional 1,200,000 shares during the last quarter. FMR LLC boosted its holdings in shares of Janux Therapeutics by 10.8% in the fourth quarter. FMR LLC now owns 8,669,941 shares of the company’s stock valued at $464,189,000 after acquiring an additional 845,266 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Janux Therapeutics by 41.2% in the 4th quarter. Janus Henderson Group PLC now owns 3,562,402 shares of the company’s stock worth $190,617,000 after buying an additional 1,038,996 shares in the last quarter. Paradigm Biocapital Advisors LP lifted its position in shares of Janux Therapeutics by 46.5% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company’s stock valued at $188,246,000 after acquiring an additional 1,115,412 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of Janux Therapeutics by 47.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company’s stock valued at $163,926,000 after purchasing an additional 986,750 shares during the period. 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.