Investors Purchase High Volume of Janux Therapeutics Put Options (NASDAQ:JANX)

Janux Therapeutics, Inc. (NASDAQ:JANX) saw unusually large options trading activity on Tuesday. Stock investors bought 9,510 put options on the stock. This is an increase of 1,493% compared to the average volume of 597 put options.

Janux Therapeutics Price Performance

JANX opened at $17.11 on Thursday. The firm has a market cap of $1.03 billion, a PE ratio of -10.18 and a beta of 2.82. The stock has a 50-day moving average price of $27.03 and a 200-day moving average price of $25.31. Janux Therapeutics has a 1 year low of $15.51 and a 1 year high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.21. The firm had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $3.07 million. As a group, sell-side analysts anticipate that Janux Therapeutics will post -1.38 EPS for the current year.

Insider Buying and Selling

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 3,333 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $32.98, for a total transaction of $109,922.34. Following the completion of the sale, the insider owned 84,974 shares of the company’s stock, valued at $2,802,442.52. This represents a 3.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 23,331 shares of company stock worth $710,862. Corporate insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE lifted its stake in shares of Janux Therapeutics by 2,402.9% in the 1st quarter. US Bancorp DE now owns 1,727 shares of the company’s stock worth $47,000 after purchasing an additional 1,658 shares during the period. Osaic Holdings Inc. raised its position in Janux Therapeutics by 704.6% in the second 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. Virtus Investment Advisers LLC raised its position in Janux Therapeutics by 37.9% in the second quarter. Virtus Investment Advisers LLC now owns 3,679 shares of the company’s stock worth $85,000 after acquiring an additional 1,011 shares during the period. Tower Research Capital LLC TRC boosted its stake 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. Finally, Ameritas Investment Partners Inc. grew its position in shares of Janux Therapeutics by 25.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,020 shares of the company’s stock valued at $93,000 after acquiring an additional 820 shares during the period. Institutional investors own 75.39% of the company’s stock.

Wall Street Analyst Weigh In

JANX has been the subject of several research analyst reports. UBS Group restated a “buy” rating and issued a $57.00 price objective on shares of Janux Therapeutics in a report on Tuesday. Bank of America decreased their target price on Janux Therapeutics from $58.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday. Stifel Nicolaus dropped their price target on Janux Therapeutics from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday. HC Wainwright reduced their price target on Janux Therapeutics from $70.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Wedbush reiterated an “outperform” rating and issued a $45.00 price objective (down previously from $76.00) on shares of Janux Therapeutics in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Janux Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.67.

About Janux Therapeutics

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.