Janux Therapeutics (NASDAQ:JANX) Releases Quarterly Earnings Results

Janux Therapeutics (NASDAQ:JANX) issued its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20, Briefing.com reports. The firm had revenue of $8.90 million during the quarter, compared to the consensus estimate of $0.77 million. Janux Therapeutics had a negative return on equity of 13.49% and a negative net margin of 762.92%. The business’s revenue for the quarter was up 709.1% on a year-over-year basis.

Janux Therapeutics Price Performance

Janux Therapeutics stock traded up $1.20 during mid-day trading on Thursday, hitting $36.49. The company’s stock had a trading volume of 824,561 shares, compared to its average volume of 765,414. The business has a 50 day moving average price of $42.31 and a 200-day moving average price of $38.12. Janux Therapeutics has a 12 month low of $5.65 and a 12 month high of $65.60. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -29.91 and a beta of 3.57.

Insider Activity

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

Wall Street Analyst Weigh In

JANX has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and set a $74.00 target price on shares of Janux Therapeutics in a research report on Thursday. Scotiabank began coverage on shares of Janux Therapeutics in a report on Thursday, May 30th. They set a “sector perform” rating and a $47.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday. HC Wainwright raised their price target on Janux Therapeutics from $50.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, Jonestrading initiated coverage on Janux Therapeutics in a report on Tuesday, April 16th. They issued a “buy” rating and a $70.00 price objective for the company. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.29.

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.