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

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

Analyst Upgrades and Downgrades

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

Janux Therapeutics Price Performance

The stock has a market cap of $1.53 billion, a P/E ratio of -22.17 and a beta of 2.96. The stock has a 50-day simple moving average of $27.04 and a 200-day simple moving average of $37.69.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.38) EPS 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, sell-side analysts forecast that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Transactions at Janux Therapeutics

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 3,333 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $32.03, for a total value of $106,755.99. Following the completion of the sale, the insider now owns 82,139 shares of the company's stock, valued at approximately $2,630,912.17. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On Janux Therapeutics

A number of hedge funds have recently added to or reduced their stakes in JANX. abrdn plc acquired a new position in Janux Therapeutics during the 4th quarter valued at about $3,430,000. Lester Murray Antman dba SimplyRich lifted its holdings in Janux Therapeutics by 205.3% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 24,315 shares of the company's stock worth $1,301,000 after acquiring an additional 16,351 shares during the period. Legato Capital Management LLC bought a new stake in Janux Therapeutics during the fourth quarter worth $347,000. Rhumbline Advisers lifted its stake in Janux Therapeutics by 1.6% in the fourth quarter. Rhumbline Advisers now owns 38,153 shares of the company's stock valued at $2,043,000 after purchasing an additional 599 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Janux Therapeutics by 84.6% in the fourth quarter. New York State Common Retirement Fund now owns 15,964 shares of the company's stock valued at $855,000 after purchasing an additional 7,318 shares during the last quarter. Institutional investors and hedge funds 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.