Janux Therapeutics (NASDAQ:JANX) Shares Down 4.2% – Here’s Why

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) traded down 4.2% during mid-day trading on Monday . The stock traded as low as $43.07 and last traded at $43.31. 103,171 shares were traded during mid-day trading, a decline of 85% from the average session volume of 706,741 shares. The stock had previously closed at $45.21.

Wall Street Analyst Weigh In

A number of research firms have commented on JANX. Wedbush restated an “outperform” rating and set a $74.00 price objective on shares of Janux Therapeutics in a research note on Thursday, August 8th. Stifel Nicolaus boosted their price target on Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday. Leerink Partnrs raised shares of Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. BTIG Research raised their target price on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Leerink Partners upped their price target on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Janux Therapeutics currently has a consensus rating of “Buy” and an average target price of $77.90.

Janux Therapeutics Stock Up 49.0 %

The business’s 50 day simple moving average is $49.60 and its two-hundred day simple moving average is $45.72. The stock has a market cap of $3.14 billion, a P/E ratio of -51.16 and a beta of 3.29.

Janux Therapeutics (NASDAQ:JANX) last issued its 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). The firm had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The firm’s revenue was down 82.6% on a year-over-year basis. As a group, research analysts forecast that Janux Therapeutics, Inc. will post -1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the completion of the transaction, the insider now owns 3,162,851 shares in the company, valued at approximately $132,839,742. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Alan Campbell sold 15,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $67.00, for a total transaction of $1,005,000.00. Following the completion of the sale, the chief executive officer now directly owns 242,054 shares in the company, valued at approximately $16,217,618. This represents a 5.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 460,610 shares of company stock worth $21,583,666 in the last ninety days. Company insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC bought a new position in shares of Janux Therapeutics in the 2nd quarter worth about $29,000. Amalgamated Bank increased its holdings in Janux Therapeutics by 61.1% in the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after purchasing an additional 368 shares in the last quarter. Plato Investment Management Ltd bought a new stake in Janux Therapeutics in the second quarter worth approximately $42,000. 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Janux Therapeutics during the 2nd quarter worth approximately $151,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.