Janux Therapeutics (NASDAQ:JANX) Trading Down 3.5% – Should You Sell?

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) were down 3.5% during trading on Wednesday . The stock traded as low as $43.73 and last traded at $43.78. Approximately 357,185 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 1,294,180 shares. The stock had previously closed at $45.35.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on JANX shares. Leerink Partnrs raised shares of Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group assumed coverage on shares of Janux Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $69.00 target price on the stock. Leerink Partners raised their price target on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. HC Wainwright upped their price objective on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Lifesci Capital raised Janux Therapeutics to a “strong-buy” rating in a report on Friday, December 27th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $89.90.

Janux Therapeutics Stock Performance

The stock has a market cap of $2.14 billion, a P/E ratio of -34.80 and a beta of 3.23. The company has a 50-day simple moving average of $53.36 and a 200-day simple moving average of $48.28.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business had revenue of $0.44 million during the quarter, compared to the consensus estimate of $1.50 million. The firm’s revenue for the quarter was down 82.6% compared to the same quarter last year. As a group, sell-side analysts expect that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO David Alan Campbell sold 25,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the transaction, the chief executive officer now owns 257,054 shares of the company’s stock, valued at $13,263,986.40. This represents a 8.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andrew Hollman Meyer sold 13,334 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $54.88, for a total value of $731,769.92. Following the completion of the transaction, the insider now owns 82,139 shares in the company, valued at approximately $4,507,788.32. This represents a 13.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,334 shares of company stock valued at $6,070,020 over the last three months. 29.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Janux Therapeutics

Several large investors have recently bought and sold shares of JANX. Amalgamated Bank raised its position in shares of Janux Therapeutics by 61.1% during the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after acquiring an additional 368 shares during the last quarter. Plato Investment Management Ltd increased its holdings in Janux Therapeutics by 18.7% in the third quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock valued at $54,000 after purchasing an additional 187 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after buying an additional 339 shares during the period. Avanza Fonder AB acquired a new position in Janux Therapeutics in the fourth quarter valued at about $139,000. Finally, AQR Capital Management LLC bought a new position in Janux Therapeutics during the second quarter worth about $215,000. 75.39% of the stock is currently 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.