Short Interest in Janux Therapeutics, Inc. (NASDAQ:JANX) Expands By 19.7%

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 11,550,000 shares, a growth of 19.7% from the April 30th total of 9,650,000 shares. Approximately 23.3% of the company's stock are short sold. Based on an average daily volume of 1,010,000 shares, the short-interest ratio is currently 11.4 days.

Analyst Upgrades and Downgrades

JANX has been the subject of a number of research reports. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Janux Therapeutics in a report on Monday, March 3rd. Wedbush reaffirmed an "outperform" rating and issued a $76.00 price objective (up previously from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. Finally, Scotiabank reduced 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 report on Friday, February 28th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $95.25.

Janux Therapeutics Price Performance

NASDAQ JANX traded up $1.45 on Friday, hitting $26.21. 609,347 shares of the company were exchanged, compared to its average volume of 870,179. The company's 50 day moving average price is $27.04 and its 200-day moving average price is $37.69. The firm has a market capitalization of $1.55 billion, a P/E ratio of -22.40 and a beta of 2.96. Janux Therapeutics has a twelve month low of $22.48 and a twelve month high of $71.71.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.38) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.05. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. As a group, equities analysts expect that Janux Therapeutics will post -1.38 EPS for the current year.

Insider Activity

In related news, insider Andrew Hollman Meyer sold 3,334 shares of Janux Therapeutics stock in a transaction on Monday, April 21st. The shares were sold at an average price of $30.00, for a total value of $100,020.00. Following the completion of the sale, the insider now owns 82,139 shares in the company, valued at approximately $2,464,170. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.10% of the company's stock.

Hedge Funds Weigh In On Janux Therapeutics

Large investors have recently made changes to their positions in the business. RA Capital Management L.P. increased its holdings in Janux Therapeutics by 13.1% in the fourth quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company's stock worth $554,977,000 after buying an additional 1,200,000 shares during the last quarter. Paradigm Biocapital Advisors LP increased its holdings in Janux Therapeutics by 46.5% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company's stock worth $188,246,000 after buying an additional 1,115,412 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Janux Therapeutics by 41.2% in the fourth 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 during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Janux Therapeutics by 47.6% during the fourth 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 last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Janux Therapeutics by 596.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,109,978 shares of the company's stock valued at $59,429,000 after purchasing an additional 950,557 shares during the last quarter. Institutional investors and hedge funds 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.