Janux Therapeutics (NASDAQ:JANX) Shares Up 11.7%

Janux Therapeutics, Inc. (NASDAQ:JANX) was up 11.7% during mid-day trading on Monday . The company traded as high as $53.80 and last traded at $52.92. Approximately 283,531 shares traded hands during trading, a decline of 62% from the average daily volume of 745,062 shares. The stock had previously closed at $47.39.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JANX. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday, February 27th. BTIG Research initiated coverage on shares of Janux Therapeutics in a research note on Thursday, March 21st. They set a “buy” rating and a $62.00 price objective on the stock. Jonestrading initiated coverage on shares of Janux Therapeutics in a research note on Tuesday, April 16th. They issued a “buy” rating and a $70.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $53.00 price target on shares of Janux Therapeutics in a research note on Monday, March 11th. Finally, Bank of America lifted their price target on shares of Janux Therapeutics from $24.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $61.33.

Janux Therapeutics Trading Up 15.0 %

The firm’s 50 day simple moving average is $39.14 and its 200-day simple moving average is $19.57.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Friday, March 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.12. The business had revenue of $2.46 million for the quarter, compared to analyst estimates of $0.98 million. Janux Therapeutics had a negative return on equity of 17.88% and a negative net margin of 721.18%. Sell-side analysts forecast that Janux Therapeutics, Inc. will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors have recently bought and sold shares of the company. Barclays PLC grew its position in shares of Janux Therapeutics by 227.1% during the third quarter. Barclays PLC now owns 17,922 shares of the company’s stock worth $181,000 after buying an additional 12,443 shares in the last quarter. FMR LLC grew its position in shares of Janux Therapeutics by 25.5% during the third quarter. FMR LLC now owns 6,351,322 shares of the company’s stock worth $64,021,000 after buying an additional 1,288,526 shares in the last quarter. Old Well Partners LLC acquired a new position in shares of Janux Therapeutics during the third quarter worth about $104,000. Corton Capital Inc. acquired a new position in Janux Therapeutics in the third quarter valued at approximately $111,000. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Janux Therapeutics by 27.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock valued at $11,592,000 after purchasing an additional 250,000 shares in the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.

Janux Therapeutics Company Profile

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.