Janux Therapeutics, Inc. (NASDAQ:JANX) Short Interest Update

Janux Therapeutics, Inc. (NASDAQ:JANX) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totaling 9,239,650 shares, a growth of 24.9% from the December 15th total of 7,395,136 shares. Based on an average daily volume of 2,641,124 shares, the days-to-cover ratio is currently 3.5 days. Currently, 21.8% of the shares of the stock are sold short. Currently, 21.8% of the shares of the stock are sold short. Based on an average daily volume of 2,641,124 shares, the days-to-cover ratio is currently 3.5 days.

Analyst Ratings Changes

A number of research firms recently weighed in on JANX. Piper Sandler lowered their price target on shares of Janux Therapeutics from $42.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday. Wedbush restated an “outperform” rating and set a $45.00 target price (down from $76.00) on shares of Janux Therapeutics in a report on Tuesday, December 2nd. UBS Group reaffirmed a “buy” rating and issued a $57.00 price target on shares of Janux Therapeutics in a report on Tuesday, December 2nd. HC Wainwright reduced their price objective on Janux Therapeutics from $70.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Finally, Barclays dropped their target price on Janux Therapeutics from $48.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.08.

Janux Therapeutics Trading Up 0.3%

NASDAQ JANX traded up $0.04 during trading hours on Monday, reaching $13.76. The company had a trading volume of 1,756,885 shares, compared to its average volume of 1,448,795. The stock has a market capitalization of $827.66 million, a P/E ratio of -8.19 and a beta of 2.88. The stock has a 50-day moving average of $19.42 and a 200 day moving average of $23.02. Janux Therapeutics has a 1-year low of $13.26 and a 1-year high of $47.58.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results 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 company had revenue of $10.00 million during the quarter, compared to analysts’ expectations of $3.07 million. As a group, sell-side analysts predict that Janux Therapeutics will post -1.38 EPS for the current year.

Insider Activity

In other news, insider Andrew Hollman Meyer sold 1,879 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $13.73, for a total transaction of $25,798.67. Following the completion of the sale, the insider owned 83,095 shares of the company’s stock, valued at $1,140,894.35. This represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Zachariah Mciver sold 2,714 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $13.73, for a total transaction of $37,263.22. Following the completion of the sale, the insider owned 23,286 shares of the company’s stock, valued at $319,716.78. This trade represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 42,364 shares of company stock valued at $972,185 in the last three months. Company insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Janux Therapeutics by 10.4% during the third 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 during the period. Orbimed Advisors LLC increased its stake in Janux Therapeutics by 45.9% during the 3rd quarter. Orbimed Advisors LLC now owns 1,766,100 shares of the company’s stock worth $43,163,000 after buying an additional 555,800 shares during the period. Readystate Asset Management LP lifted its holdings in Janux Therapeutics by 38.0% during the 3rd quarter. Readystate Asset Management LP now owns 960,379 shares of the company’s stock worth $23,472,000 after buying an additional 264,423 shares in the last quarter. Geode Capital Management LLC boosted its position in Janux Therapeutics by 15.5% in the 2nd quarter. Geode Capital Management LLC now owns 902,312 shares of the company’s stock valued at $20,845,000 after buying an additional 121,403 shares during the period. Finally, Prosight Management LP grew its stake in shares of Janux Therapeutics by 1.3% in the third quarter. Prosight Management LP now owns 865,350 shares of the company’s stock worth $21,149,000 after acquiring an additional 11,446 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

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.