Janux Therapeutics, Inc. (NASDAQ:JANX) Sees Significant Increase in Short Interest

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) was the target of a large 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. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is currently 11.4 days. Currently, 23.3% of the shares of the company are sold short.

Janux Therapeutics Trading Up 5.8%

NASDAQ:JANX traded up $1.44 on Friday, hitting $26.20. The company had a trading volume of 385,109 shares, compared to its average volume of 868,931. Janux Therapeutics has a 52 week low of $22.48 and a 52 week high of $71.71. The firm has a 50 day moving average of $27.05 and a two-hundred day moving average of $37.99. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -22.39 and a beta of 2.96.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping 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 forecast that Janux Therapeutics will post -1.38 EPS for the current year.

Insider Transactions at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 3,333 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $32.03, for a total transaction of $106,755.99. Following the transaction, the insider now directly owns 82,139 shares of the company's stock, valued at approximately $2,630,912.17. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On Janux Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its position in Janux Therapeutics by 496.5% in the 3rd quarter. Barclays PLC now owns 174,061 shares of the company's stock valued at $7,907,000 after buying an additional 144,883 shares in the last quarter. Chicago Capital LLC purchased a new stake in Janux Therapeutics during the fourth quarter valued at about $230,000. abrdn plc bought a new stake in shares of Janux Therapeutics in the fourth quarter worth about $3,430,000. Lester Murray Antman dba SimplyRich raised its position in Janux Therapeutics by 205.3% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 24,315 shares of the company's stock valued at $1,301,000 after purchasing an additional 16,351 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of Janux Therapeutics during the fourth quarter valued at approximately $347,000. 75.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Scotiabank cut their target price on shares of Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Wedbush restated an "outperform" rating and set a $76.00 target price (up from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. Finally, HC Wainwright reissued a "buy" rating and set a $70.00 price target on shares of Janux Therapeutics in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $95.25.

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.