Janux Therapeutics (NASDAQ:JANX) Stock Price Up 5.5% – What’s Next?

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price shot up 5.5% on Monday . The stock traded as high as $18.26 and last traded at $18.3390. 220,342 shares traded hands during trading, a decline of 80% from the average daily volume of 1,114,302 shares. The stock had previously closed at $17.39.

Analyst Upgrades and Downgrades

JANX has been the subject of several analyst reports. Piper Sandler reduced their price objective on Janux Therapeutics from $30.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Stifel Nicolaus set a $35.00 target price on Janux Therapeutics in a research report on Friday, August 7th. Guggenheim cut their price target on Janux Therapeutics from $58.00 to $55.00 and set a “buy” rating for the company in a report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Janux Therapeutics in a research report on Monday, July 20th. Finally, Wedbush decreased their price objective on Janux Therapeutics from $45.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.46.

Janux Therapeutics Price Performance

The stock’s 50-day simple moving average is $15.66 and its two-hundred day simple moving average is $14.63. The firm has a market capitalization of $1.16 billion, a P/E ratio of -11.52 and a beta of 2.50.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.10). The firm had revenue of $10.27 million for the quarter, compared to analysts’ expectations of $19.07 million. On average, analysts forecast that Janux Therapeutics, Inc. will post -1.76 earnings per share for the current fiscal year.

Insider Transactions at Janux Therapeutics

In other Janux Therapeutics news, insider Janeen Noel Doyle sold 4,059 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $14.03, for a total value of $56,947.77. Following the completion of the sale, the insider owned 75,941 shares in the company, valued at approximately $1,065,452.23. This represents a 5.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds have recently made changes to their positions in JANX. California State Teachers Retirement System raised its position in shares of Janux Therapeutics by 1.1% during the 2nd quarter. California State Teachers Retirement System now owns 37,139 shares of the company’s stock valued at $858,000 after buying an additional 404 shares in the last quarter. Versant Capital Management Inc grew its position in Janux Therapeutics by 42.8% in the second quarter. Versant Capital Management Inc now owns 2,615 shares of the company’s stock worth $40,000 after acquiring an additional 784 shares in the last quarter. Nuveen LLC increased its stake in Janux Therapeutics by 0.8% during the fourth quarter. Nuveen LLC now owns 96,416 shares of the company’s stock worth $1,331,000 after acquiring an additional 787 shares during the last quarter. ProShare Advisors LLC increased its stake in Janux Therapeutics by 18.3% during the fourth quarter. ProShare Advisors LLC now owns 10,495 shares of the company’s stock worth $145,000 after acquiring an additional 1,621 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in Janux Therapeutics by 7.6% during the first quarter. Quantinno Capital Management LP now owns 26,064 shares of the company’s stock worth $362,000 after acquiring an additional 1,846 shares during the last quarter. Institutional investors own 75.39% of the company’s stock.

Janux Therapeutics Company Profile

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.