Janux Therapeutics, Inc. (NASDAQ:JANX), a $2.69 billion market cap biotech company, saw its President and CEO David Alan Campbell recently sell 5,000 shares of the company's common stock. The transaction, which took place on January 7, 2025, was conducted under a pre-arranged Rule 10b5-1 trading plan adopted by Campbell on June 21, 2024. The stock has shown remarkable performance, delivering a 364% return over the past year.
The shares were sold at a weighted average price of $60.0008, with the prices ranging from $60.00 to $60.02. This sale amounted to a total value of $300,004. Following this transaction, Campbell retains ownership of 293,054 shares in Janux Therapeutics.
The sale was executed by James Pennington, serving as Attorney-in-Fact for Campbell, as indicated in the SEC filing.
In other recent news, Janux Therapeutics has been the focus of several analyst updates following promising clinical results. Clear Street initiated coverage on Janux Therapeutics, assigning a Buy rating with a price target of $80, while Scotiabank (TSX:BNS) increased its price target to $62.00 and Jones Trading raised its target to $105. Stifel has also increased its price target for Janux to $115.00, maintaining a Buy rating on the stock. TD Cowen reiterated a Buy rating, highlighting the impressive results from Janux's '007 candidate.
These adjustments followed the release of encouraging clinical data from Janux's Phase 1 study for JANX007, a treatment for metastatic castration-resistant prostate cancer (mCRPC). The therapy demonstrated high prostate-specific antigen response rates, with all patients treated showing a reduction of at least 50% from the baseline. The ongoing Phase Ia dose escalation study of '007 is proceeding alongside the initiation of the Phase Ib expansion, which will include second and third-line treatment settings.
These recent developments suggest that '007 could become the preferred non-androgen therapy for mCRPC, with the potential to generate multiple billions in revenue. The company is expected to provide further updates on '007, as well as on '008, in 2025. The analysts' optimism is based on the candidate's strong clinical performance and the potential of '007 to meet a significant unmet medical need in the oncology market.
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