Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report)'s share price rose 6.3% during mid-day trading on Monday . The company traded as high as $58.06 and last traded at $57.81. Approximately 333,892 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 710,558 shares. The stock had previously closed at $54.39.
A number of brokerages recently weighed in on JANX. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $100.00 price objective on shares of Janux Therapeutics in a research report on Monday, September 16th. Stifel Nicolaus began coverage on Janux Therapeutics in a report on Friday, September 6th. They issued a "buy" rating and a $70.00 price target on the stock. Wedbush reaffirmed an "outperform" rating and issued a $74.00 target price on shares of Janux Therapeutics in a research report on Thursday, August 8th. Scotiabank lowered their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a "sector perform" rating for the company in a research report on Friday, August 9th. Finally, UBS Group assumed coverage on shares of Janux Therapeutics in a report on Thursday, October 24th. They issued a "buy" rating and a $69.00 price objective on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Janux Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.44.
Read Our Latest Report on Janux Therapeutics
The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -63.59 and a beta of 3.52. The firm's 50 day moving average is $48.09 and its 200 day moving average is $46.14.
Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.20. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The business had revenue of $8.90 million for the quarter, compared to analysts' expectations of $0.77 million. Janux Therapeutics's revenue was up 709.1% compared to the same quarter last year. On average, sell-side analysts predict that Janux Therapeutics, Inc. will post -1.18 earnings per share for the current year.
In other news, Director Ra Capital Management, L.P. bought 1,200,000 shares of the firm's stock in a transaction on Friday, October 18th. The stock was bought at an average cost of $44.75 per share, for a total transaction of $53,700,000.00. Following the completion of the acquisition, the director now directly owns 9,317,246 shares in the company, valued at $416,946,758.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the completion of the sale, the insider now directly owns 3,162,851 shares in the company, valued at approximately $132,839,742. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ra Capital Management, L.P. bought 1,200,000 shares of the company's stock in a transaction dated Friday, October 18th. The stock was acquired at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the acquisition, the director now directly owns 9,317,246 shares in the company, valued at $416,946,758.50. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 420,610 shares of company stock worth $19,288,666. Company insiders own 29.40% of the company's stock.
Several institutional investors have recently made changes to their positions in JANX. Logos Global Management LP lifted its position in Janux Therapeutics by 400.0% in the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company's stock worth $31,418,000 after buying an additional 600,000 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Janux Therapeutics in the first quarter valued at approximately $20,420,000. Vanguard Group Inc. increased its stake in shares of Janux Therapeutics by 38.6% during the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company's stock worth $51,127,000 after purchasing an additional 378,477 shares during the last quarter. Altitude Crest Partners Inc. acquired a new position in shares of Janux Therapeutics during the 1st quarter worth $7,278,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Janux Therapeutics in the 2nd quarter valued at $5,715,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.
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.
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