Janux Therapeutics (NASDAQ:JANX) Shares Up 7.9% - Here's What Happened

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report)'s share price shot up 7.9% during trading on Friday . The company traded as high as $26.19 and last traded at $26.72. 35,973 shares traded hands during trading, a decline of 96% from the average session volume of 867,789 shares. The stock had previously closed at $24.76.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JANX. Scotiabank reduced their price objective on 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. HC Wainwright reissued a "buy" rating and set a $70.00 target price on shares of Janux Therapeutics in a research report on Monday, March 3rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $76.00 price target (up previously from $75.00) on shares of Janux Therapeutics 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $95.25.

Janux Therapeutics Price Performance

The business's fifty day moving average price is $27.05 and its 200-day moving average price is $37.99. The stock has a market capitalization of $1.56 billion, a PE ratio of -22.43 and a beta of 2.96.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate 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%. On average, analysts expect that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Transactions at Janux Therapeutics

In other news, insider Andrew Hollman Meyer sold 3,333 shares of Janux Therapeutics stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $32.03, for a total transaction of $106,755.99. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

A number of large investors have recently added to or reduced their stakes in JANX. Rhumbline Advisers grew its position in Janux Therapeutics by 11.8% during the first quarter. Rhumbline Advisers now owns 42,650 shares of the company's stock valued at $1,152,000 after acquiring an additional 4,497 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Janux Therapeutics by 12.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,394 shares of the company's stock valued at $5,033,000 after purchasing an additional 20,657 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Janux Therapeutics by 18.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,403 shares of the company's stock worth $583,000 after purchasing an additional 3,393 shares during the period. AQR Capital Management LLC lifted its stake in Janux Therapeutics by 71.7% in the first quarter. AQR Capital Management LLC now owns 9,717 shares of the company's stock worth $262,000 after purchasing an additional 4,059 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its position in Janux Therapeutics by 18.5% during the first quarter. Alyeska Investment Group L.P. now owns 408,678 shares of the company's stock valued at $11,034,000 after buying an additional 63,762 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.