Janux Therapeutics (NASDAQ:JANX) Sees Strong Trading Volume

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 1,917,919 shares were traded during mid-day trading, an increase of 181% from the previous session's volume of 681,574 shares.The stock last traded at $45.49 and had previously closed at $40.03.

Analyst Ratings Changes

JANX has been the subject of a number of recent research reports. Wedbush reissued an "outperform" rating and issued a $53.00 price objective on shares of Janux Therapeutics in a research note on Monday, March 11th. BTIG Research initiated coverage on shares of Janux Therapeutics in a report on Thursday, March 21st. They issued a "buy" rating and a $62.00 price target on the stock. William Blair reaffirmed an "outperform" rating on shares of Janux Therapeutics in a report on Tuesday, February 27th. Bank of America boosted their price objective on shares of Janux Therapeutics from $24.00 to $48.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. Finally, Cantor Fitzgerald started coverage on shares of Janux Therapeutics in a report on Wednesday, March 20th. They set an "overweight" rating and a $100.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $59.60.

Janux Therapeutics Price Performance

The company has a market capitalization of $2.31 billion, a PE ratio of -33.30 and a beta of 4.18. The firm's fifty day simple moving average is $29.42 and its 200 day simple moving average is $16.18.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings results on Friday, March 8th. The company reported ($0.25) 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 company had revenue of $2.46 million for the quarter, compared to analyst estimates of $0.98 million. On average, equities research analysts anticipate that Janux Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Janux Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its position in shares of Janux Therapeutics by 10,740.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the company's stock worth $29,000 after acquiring an additional 2,685 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Janux Therapeutics by 149.4% in the first quarter. Tower Research Capital LLC TRC now owns 3,344 shares of the company's stock worth $40,000 after acquiring an additional 2,003 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in shares of Janux Therapeutics in the fourth quarter worth about $57,000. Barclays PLC raised its position in shares of Janux Therapeutics by 533.0% in the fourth quarter. Barclays PLC now owns 4,608 shares of the company's stock worth $61,000 after acquiring an additional 3,880 shares during the period. Finally, Citigroup Inc. raised its position in shares of Janux Therapeutics by 935.2% in the second quarter. Citigroup Inc. now owns 5,787 shares of the company's stock worth $69,000 after acquiring an additional 5,228 shares during the period. 75.39% of the stock is owned by hedge funds and other institutional investors.

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.