Janux Therapeutics (NASDAQ:JANX) Posts Earnings Results, Beats Expectations By $0.21 EPS

Janux Therapeutics (NASDAQ:JANX) issued its quarterly earnings data on Thursday. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.21, FiscalAI reports. The business had revenue of $10.00 million for the quarter, compared to analyst estimates of $3.07 million.

Janux Therapeutics Trading Down 7.6%

Shares of Janux Therapeutics stock traded down $2.18 during trading hours on Friday, reaching $26.48. 1,750,098 shares of the company’s stock were exchanged, compared to its average volume of 1,196,176. The stock has a market cap of $1.59 billion, a P/E ratio of -15.76 and a beta of 2.83. The company has a 50 day moving average of $25.11 and a two-hundred day moving average of $25.27. Janux Therapeutics has a fifty-two week low of $21.73 and a fifty-two week high of $71.71.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Truist Financial began coverage on Janux Therapeutics in a report on Wednesday, September 10th. They set a “buy” rating and a $100.00 price objective on the stock. Barclays increased their price objective on shares of Janux Therapeutics from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday. Stifel Nicolaus restated a “buy” rating and set a $45.00 price objective on shares of Janux Therapeutics in a report on Wednesday, September 10th. Guggenheim initiated coverage on shares of Janux Therapeutics in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $72.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $76.00 target price on shares of Janux Therapeutics in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Janux Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.17.

Insider Activity

In related news, insider Andrew Hollman Meyer sold 16,665 shares of the company’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $30.06, for a total transaction of $500,949.90. Following the sale, the insider owned 82,139 shares in the company, valued at approximately $2,469,098.34. This represents a 16.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.10% 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 JANX. Vanguard Group Inc. increased its position 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 buying an additional 227,676 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Janux Therapeutics by 704.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,468 shares of the company’s stock worth $80,000 after acquiring an additional 3,037 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Janux Therapeutics by 175.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,928 shares of the company’s stock worth $91,000 after acquiring an additional 2,502 shares during the last quarter. Lazard Asset Management LLC raised its stake in Janux Therapeutics by 64.8% in the 2nd quarter. Lazard Asset Management LLC now owns 99,858 shares of the company’s stock valued at $2,306,000 after acquiring an additional 39,278 shares during the period. Finally, Engineers Gate Manager LP lifted its holdings in Janux Therapeutics by 115.0% during the 2nd quarter. Engineers Gate Manager LP now owns 39,749 shares of the company’s stock valued at $918,000 after purchasing an additional 21,258 shares during the last quarter. Institutional investors own 75.39% of the company’s stock.

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.