Janux Therapeutics (NASDAQ:JANX) Shares Up 11.7%

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) were up 11.7% during trading on Monday . The stock traded as high as $53.80 and last traded at $52.92. Approximately 283,531 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 745,062 shares. The stock had previously closed at $47.39.

Analyst Upgrades and Downgrades

JANX has been the topic of a number of recent research reports. Wedbush reaffirmed an "outperform" rating and set a $53.00 price target on shares of Janux Therapeutics in a research report on Monday, March 11th. BTIG Research began coverage on shares of Janux Therapeutics in a research report on Thursday, March 21st. They issued a "buy" rating and a $62.00 price target for the company. Bank of America boosted their price target on Janux Therapeutics from $24.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, March 13th. Jonestrading initiated coverage on Janux Therapeutics in a report on Tuesday, April 16th. They issued a "buy" rating and a $70.00 target price on the stock. Finally, Cantor Fitzgerald assumed coverage on Janux Therapeutics in a research report on Wednesday, March 20th. They set an "overweight" rating and a $100.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $61.33.

Janux Therapeutics Trading Up 18.3 %

The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of -40.66 and a beta of 4.19. The firm's 50-day moving average is $39.14 and its 200 day moving average is $19.57.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly earnings results on Friday, March 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.12. Janux Therapeutics had a negative net margin of 721.18% and a negative return on equity of 17.88%. The firm had revenue of $2.46 million during the quarter, compared to the consensus estimate of $0.98 million. Analysts predict that Janux Therapeutics, Inc. will post -1.41 EPS for the current year.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its holdings in Janux Therapeutics by 82.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,743 shares of the company's stock valued at $367,000 after acquiring an additional 4,400 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Janux Therapeutics in the 4th quarter worth approximately $553,000. Swiss National Bank boosted its stake in shares of Janux Therapeutics by 39.5% in the 4th quarter. Swiss National Bank now owns 31,800 shares of the company's stock valued at $341,000 after purchasing an additional 9,000 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Janux Therapeutics in the 4th quarter valued at $654,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Janux Therapeutics by 2,166.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 26,264 shares of the company's stock worth $282,000 after buying an additional 25,105 shares during the period. 75.39% of the stock is currently owned by institutional investors.

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.