Janux Therapeutics (NASDAQ:JANX) Sees Strong Trading Volume

Janux Therapeutics, Inc. (NASDAQ:JANX) saw strong trading volume on Wednesday . 618,332 shares traded hands during trading, a decline of 19% from the previous session’s volume of 766,158 shares.The stock last traded at $41.30 and had previously closed at $41.23.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JANX. Wedbush boosted their target price on Janux Therapeutics from $53.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Scotiabank began coverage on shares of Janux Therapeutics in a research report on Thursday, May 30th. They issued a “sector perform” rating and a $47.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of Janux Therapeutics in a research note on Thursday, May 9th. HC Wainwright increased their price objective on Janux Therapeutics from $50.00 to $63.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Jonestrading began coverage on shares of Janux Therapeutics in a research report on Tuesday, April 16th. They set a “buy” rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.29.

Janux Therapeutics Trading Down 6.5 %

The firm has a 50-day moving average of $43.34 and a two-hundred day moving average of $37.17.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Janux Therapeutics had a negative return on equity of 13.49% and a negative net margin of 762.92%. The firm had revenue of $1.25 million for the quarter, compared to analysts’ expectations of $0.98 million. As a group, equities analysts predict that Janux Therapeutics, Inc. will post -1.34 EPS for the current year.

Insider Transactions at Janux Therapeutics

In other news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $37,081,025.25. Following the completion of the sale, the insider now directly owns 3,271,216 shares in the company, valued at $179,099,076. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of Janux Therapeutics stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $37,081,025.25. Following the transaction, the insider now owns 3,271,216 shares in the company, valued at approximately $179,099,076. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Tighe Reardon sold 822,721 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $54.75, for a total transaction of $45,043,974.75. Following the completion of the transaction, the chief financial officer now owns 633,673 shares in the company, valued at $34,693,596.75. The disclosure for this sale can be found here. Insiders sold 3,000,000 shares of company stock valued at $164,250,000 over the last 90 days. Corporate insiders own 35.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its stake in shares of Janux Therapeutics by 41.2% in the second quarter. Rhumbline Advisers now owns 38,008 shares of the company’s stock valued at $1,592,000 after buying an additional 11,085 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Janux Therapeutics during the second quarter worth approximately $237,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Janux Therapeutics in the second quarter valued at $151,000. Summit Securities Group LLC acquired a new stake in shares of Janux Therapeutics in the 2nd quarter valued at about $29,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Janux Therapeutics by 136.3% in the second quarter. Bank of New York Mellon Corp now owns 115,027 shares of the company’s stock valued at $4,818,000 after acquiring an additional 66,340 shares during the period. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.