Janux Therapeutics (NASDAQ:JANX) Sees Large Volume Increase – Here’s Why

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) saw unusually-high trading volume on Thursday . Approximately 3,168,658 shares changed hands during mid-day trading, an increase of 172% from the previous session’s volume of 1,166,336 shares.The stock last traded at $15.17 and had previously closed at $14.64.

Analyst Ratings Changes

Several analysts have issued reports on JANX shares. Truist Financial restated a “buy” rating and issued a $26.00 price target (down from $80.00) on shares of Janux Therapeutics in a research report on Thursday. UBS Group downgraded Janux Therapeutics from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $57.00 to $15.00 in a research report on Wednesday, April 15th. Weiss Ratings upgraded Janux Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 22nd. Cantor Fitzgerald cut their price target on Janux Therapeutics from $150.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Finally, Evercore set a $22.00 price objective on Janux Therapeutics in a research report on Monday, May 11th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Janux Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $40.15.

Janux Therapeutics Trading Up 2.2%

The business’s fifty day moving average price is $14.40 and its 200 day moving average price is $14.15. The company has a market capitalization of $912.75 million, a P/E ratio of -8.13 and a beta of 2.53.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Thursday, May 7th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.13. The business had revenue of $3.73 million during the quarter, compared to the consensus estimate of $4.36 million. Equities research analysts anticipate that Janux Therapeutics, Inc. will post -1.7 EPS for the current year.

Insider Buying and Selling

In related news, insider Janeen Noel Doyle sold 4,059 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $14.03, for a total transaction of $56,947.77. Following the completion of the transaction, the insider owned 75,941 shares in the company, valued at $1,065,452.23. This trade represents a 5.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Maria Dobek sold 2,038 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $14.17, for a total value of $28,878.46. Following the completion of the sale, the vice president directly owned 32,270 shares in the company, valued at approximately $457,265.90. This represents a 5.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 7.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of Janux Therapeutics by 103.8% in the 4th quarter. State Street Corp now owns 3,853,951 shares of the company’s stock valued at $53,185,000 after purchasing an additional 1,962,486 shares in the last quarter. Prosight Management LP grew its stake in Janux Therapeutics by 176.5% during the fourth quarter. Prosight Management LP now owns 2,392,523 shares of the company’s stock worth $33,017,000 after buying an additional 1,527,173 shares during the last quarter. Wellington Management Group LLP grew its stake in Janux Therapeutics by 129.5% during the fourth quarter. Wellington Management Group LLP now owns 1,610,186 shares of the company’s stock worth $22,221,000 after buying an additional 908,582 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Janux Therapeutics during the fourth quarter worth approximately $12,221,000. Finally, Alyeska Investment Group L.P. increased its holdings in shares of Janux Therapeutics by 206.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,301,089 shares of the company’s stock worth $17,955,000 after buying an additional 876,244 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

About Janux Therapeutics

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.