Janux Therapeutics (NASDAQ:JANX) Shares Up 10.2% – Should You Buy?

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price was up 10.2% during trading on Tuesday . The company traded as high as $34.43 and last traded at $34.7330. Approximately 1,609,294 shares traded hands during mid-day trading, an increase of 72% from the average daily volume of 937,236 shares. The stock had previously closed at $31.53.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on JANX shares. Guggenheim began coverage on shares of Janux Therapeutics in a research note on Wednesday, September 3rd. They set a “buy” rating and a $72.00 price target on the stock. Barclays boosted their price objective on shares of Janux Therapeutics from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Wall Street Zen raised shares of Janux Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price target on shares of Janux Therapeutics in a research report on Wednesday, September 10th. Finally, Truist Financial assumed coverage on Janux Therapeutics in a report on Wednesday, September 10th. They issued a “buy” rating and a $100.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $79.17.

Janux Therapeutics Price Performance

The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -20.68 and a beta of 2.83. The business’s 50-day moving average price is $26.21 and its two-hundred day moving average price is $25.08.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.21. The business had revenue of $10.00 million during the quarter, compared to analyst estimates 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 Buying and Selling at Janux Therapeutics

In other news, insider Andrew Hollman Meyer sold 16,665 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $30.06, for a total transaction of $500,949.90. Following the completion of the sale, the insider directly owned 82,139 shares of the company’s stock, valued at $2,469,098.34. The trade was a 16.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 29.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. raised its holdings in shares of Janux Therapeutics by 7.9% in the 1st quarter. RA Capital Management L.P. now owns 11,189,693 shares of the company’s stock worth $302,122,000 after purchasing an additional 824,041 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Janux Therapeutics by 19.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,654,574 shares of the company’s stock worth $98,673,000 after buying an additional 592,824 shares during the period. Orbimed Advisors LLC boosted its holdings in Janux Therapeutics by 45.9% in the 3rd quarter. Orbimed Advisors LLC now owns 1,766,100 shares of the company’s stock worth $43,163,000 after acquiring an additional 555,800 shares during the period. First Light Asset Management LLC grew its position in Janux Therapeutics by 110.0% in the first quarter. First Light Asset Management LLC now owns 658,824 shares of the company’s stock valued at $17,788,000 after acquiring an additional 345,042 shares in the last quarter. Finally, MPM Bioimpact LLC raised its stake in shares of Janux Therapeutics by 146.6% during the first quarter. MPM Bioimpact LLC now owns 567,193 shares of the company’s stock valued at $15,314,000 after purchasing an additional 337,193 shares during the period. Hedge funds and other institutional investors own 75.39% of the company’s stock.

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.