Janux Therapeutics (NASDAQ:JANX) Sees Unusually-High Trading Volume – What’s Next?

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) saw unusually-strong trading volume on Thursday . Approximately 3,145,843 shares changed hands during trading, an increase of 94% from the previous session’s volume of 1,622,445 shares.The stock last traded at $14.32 and had previously closed at $13.27.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on JANX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Janux Therapeutics in a research report on Wednesday, October 8th. Stifel Nicolaus decreased their target price on Janux Therapeutics from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Barclays dropped their price target on shares of Janux Therapeutics from $48.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Bank of America lowered their price objective on shares of Janux Therapeutics from $58.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Finally, Cantor Fitzgerald cut their target price on shares of Janux Therapeutics from $200.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, December 2nd. Eleven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Janux Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.08.

Janux Therapeutics Price Performance

The company has a market capitalization of $895.81 million, a P/E ratio of -8.84 and a beta of 2.88. The firm’s 50-day moving average is $18.80 and its 200-day moving average is $22.87.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.21. The business had revenue of $10.00 million for the quarter, compared to the consensus estimate of $3.07 million. As a group, analysts forecast that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Insider Activity

In other Janux Therapeutics news, insider Charles M. Winter sold 2,401 shares of Janux Therapeutics stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $13.73, for a total transaction of $32,965.73. Following the transaction, the insider owned 77,721 shares of the company’s stock, valued at $1,067,109.33. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Hollman Meyer sold 16,665 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $30.06, for a total transaction of $500,949.90. Following the completion of the transaction, the insider owned 82,139 shares of the company’s stock, valued at approximately $2,469,098.34. The trade was a 16.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 42,364 shares of company stock worth $972,185. 8.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Orbimed Advisors LLC lifted its position in shares of Janux Therapeutics by 45.9% in the third quarter. Orbimed Advisors LLC now owns 1,766,100 shares of the company’s stock valued at $43,163,000 after acquiring an additional 555,800 shares in the last quarter. Readystate Asset Management LP raised its stake in Janux Therapeutics by 38.0% during the 3rd quarter. Readystate Asset Management LP now owns 960,379 shares of the company’s stock valued at $23,472,000 after purchasing an additional 264,423 shares during the period. Vanguard Group Inc. lifted its holdings in Janux Therapeutics by 10.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,417,104 shares of the company’s stock worth $59,074,000 after purchasing an additional 227,676 shares in the last quarter. Wellington Management Group LLP grew its holdings in Janux Therapeutics by 42.5% during the 3rd quarter. Wellington Management Group LLP now owns 701,604 shares of the company’s stock valued at $17,147,000 after buying an additional 209,243 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its position in shares of Janux Therapeutics by 64.2% during the third quarter. Alyeska Investment Group L.P. now owns 424,845 shares of the company’s stock valued at $10,383,000 after buying an additional 166,167 shares during the last quarter. Hedge funds and other 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.