Janux Therapeutics (NASDAQ:JANX) Sees Large Volume Increase – Time to Buy?

Janux Therapeutics, Inc. (NASDAQ:JANX) saw unusually-high trading volume on Thursday . Approximately 2,289,506 shares changed hands during trading, an increase of 110% from the previous session’s volume of 1,091,203 shares.The stock last traded at $14.09 and had previously closed at $14.10.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. HC Wainwright lowered their price target on Janux Therapeutics from $70.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Wolfe Research assumed coverage on Janux Therapeutics in a research note on Tuesday, November 18th. They set a “peer perform” rating on the stock. Wedbush reaffirmed an “outperform” rating and issued a $45.00 price target (down previously from $76.00) on shares of Janux Therapeutics in a research note on Tuesday, December 2nd. Truist Financial began coverage on shares of Janux Therapeutics in a report on Wednesday, September 10th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Janux Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.08.

Janux Therapeutics Trading Down 1.8%

The stock’s fifty day moving average price is $24.97 and its 200 day moving average price is $24.53. The stock has a market cap of $829.47 million, a P/E ratio of -8.21 and a beta of 2.82.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.21. The business had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $3.07 million. As a group, sell-side analysts forecast that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Activity at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $32.98, for a total transaction of $109,922.34. Following the completion of the transaction, the insider owned 84,974 shares of the company’s stock, valued at $2,802,442.52. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 23,331 shares of company stock valued at $710,862. Insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors have recently modified their holdings of JANX. Osaic Holdings Inc. increased its holdings in shares of Janux Therapeutics by 704.6% during the second quarter. Osaic Holdings Inc. now owns 3,468 shares of the company’s stock valued at $80,000 after acquiring an additional 3,037 shares in the last quarter. Virtus Investment Advisers LLC raised its holdings in Janux Therapeutics by 37.9% in the second quarter. Virtus Investment Advisers LLC now owns 3,679 shares of the company’s stock worth $85,000 after buying an additional 1,011 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Janux Therapeutics by 175.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,928 shares of the company’s stock worth $91,000 after buying an additional 2,502 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Janux Therapeutics by 25.6% during the second quarter. Ameritas Investment Partners Inc. now owns 4,020 shares of the company’s stock valued at $93,000 after buying an additional 820 shares during the last quarter. Finally, Winthrop Capital Management LLC bought a new stake in shares of Janux Therapeutics during the third quarter valued at approximately $106,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

About Janux Therapeutics

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.