Short Interest in Janux Therapeutics, Inc. (NASDAQ:JANX) Grows By 25.1%

Janux Therapeutics, Inc. (NASDAQ:JANX) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 4,330,000 shares, an increase of 25.1% from the September 30th total of 3,460,000 shares. Approximately 10.7% of the shares of the company are sold short. Based on an average daily volume of 577,200 shares, the short-interest ratio is presently 7.5 days.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wedbush restated an “outperform” rating and issued a $74.00 price target on shares of Janux Therapeutics in a research report on Thursday, August 8th. Scotiabank dropped their price objective on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $63.00 target price on shares of Janux Therapeutics in a research report on Monday, August 19th. Stifel Nicolaus assumed coverage on Janux Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 price objective on shares of Janux Therapeutics in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Janux Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.44.

Insider Activity at Janux Therapeutics

In other news, CEO David Alan Campbell sold 25,000 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the transaction, the chief executive officer now directly owns 307,054 shares of the company’s stock, valued at $14,219,670.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO David Alan Campbell sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the completion of the transaction, the chief executive officer now directly owns 307,054 shares in the company, valued at approximately $14,219,670.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the sale, the insider now owns 3,162,851 shares in the company, valued at approximately $132,839,742. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 395,610 shares of company stock worth $17,950,166 over the last quarter. Company insiders own 35.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Chicago Partners Investment Group LLC acquired a new stake in shares of Janux Therapeutics during the third quarter valued at about $239,000. China Universal Asset Management Co. Ltd. raised its position in Janux Therapeutics by 64.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 10,033 shares of the company’s stock valued at $456,000 after purchasing an additional 3,943 shares during the period. Nisa Investment Advisors LLC lifted its stake in Janux Therapeutics by 639.5% during the third quarter. Nisa Investment Advisors LLC now owns 20,343 shares of the company’s stock worth $924,000 after purchasing an additional 17,592 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after buying an additional 339 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Janux Therapeutics in the 2nd quarter valued at $5,715,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Janux Therapeutics Stock Up 2.6 %

Shares of NASDAQ JANX traded up $1.40 during trading on Wednesday, hitting $55.61. The company had a trading volume of 87,886 shares, compared to its average volume of 711,409. Janux Therapeutics has a fifty-two week low of $5.65 and a fifty-two week high of $65.60. The stock has a fifty day simple moving average of $47.50 and a two-hundred day simple moving average of $46.04. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -44.43 and a beta of 3.54.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.20. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The business had revenue of $8.90 million for the quarter, compared to the consensus estimate of $0.77 million. The company’s revenue for the quarter was up 709.1% on a year-over-year basis. On average, analysts anticipate that Janux Therapeutics will post -1.18 earnings per share for the current year.

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.