Janux Therapeutics (NASDAQ:JANX) Stock Price Down 4.3%

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price traded down 4.3% during mid-day trading on Tuesday . The company traded as low as $45.58 and last traded at $45.69. 452,716 shares changed hands during trading, a decline of 42% from the average session volume of 776,518 shares. The stock had previously closed at $47.72.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jonestrading assumed coverage on shares of Janux Therapeutics in a research report on Tuesday, April 16th. They set a “buy” rating and a $70.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday, May 9th. Scotiabank initiated coverage on shares of Janux Therapeutics in a report on Thursday, May 30th. They set a “sector perform” rating and a $47.00 price objective on the stock. HC Wainwright upped their price objective on shares of Janux Therapeutics from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Wedbush upped their price objective on shares of Janux Therapeutics from $53.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.29.

Janux Therapeutics Stock Performance

The stock has a market cap of $2.22 billion, a P/E ratio of -35.05 and a beta of 3.58. The company’s 50 day moving average price is $43.74 and its 200-day moving average price is $36.09.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.05. Janux Therapeutics had a negative net margin of 762.92% and a negative return on equity of 13.49%. The firm had revenue of $1.25 million during the quarter, compared to analyst estimates of $0.98 million. On average, analysts forecast that Janux Therapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Insider Transactions at Janux Therapeutics

In other news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $37,081,025.25. Following the completion of the sale, the insider now owns 3,271,216 shares in the company, valued at approximately $179,099,076. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $54.75, for a total transaction of $37,081,025.25. Following the completion of the transaction, the insider now owns 3,271,216 shares in the company, valued at $179,099,076. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jay Lichter sold 1,500,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $54.75, for a total transaction of $82,125,000.00. Following the transaction, the director now owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The disclosure for this sale can be found here. Insiders sold a total of 3,000,000 shares of company stock worth $164,250,000 in the last quarter. 35.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors have recently added to or reduced their stakes in JANX. SG Americas Securities LLC bought a new position in Janux Therapeutics during the fourth quarter valued at about $100,000. China Universal Asset Management Co. Ltd. bought a new position in Janux Therapeutics during the fourth quarter worth about $57,000. Nisa Investment Advisors LLC boosted its position in Janux Therapeutics by 10,740.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the company’s stock worth $29,000 after purchasing an additional 2,685 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Janux Therapeutics by 2,166.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 26,264 shares of the company’s stock worth $282,000 after purchasing an additional 25,105 shares during the period. Finally, Cerity Partners LLC bought a new position in Janux Therapeutics during the fourth quarter worth about $654,000. Institutional investors 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.