Janux Therapeutics (NASDAQ:JANX) Trading Down 3.6% – Here’s Why

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) fell 3.6% during mid-day trading on Wednesday . The company traded as low as $50.47 and last traded at $50.82. 102,613 shares were traded during trading, a decline of 86% from the average session volume of 710,869 shares. The stock had previously closed at $52.74.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JANX. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research note on Monday, September 16th. Wedbush reissued an “outperform” rating and set a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $63.00 target price on shares of Janux Therapeutics in a research note on Monday, August 19th. Stifel Nicolaus started coverage on Janux Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $70.00 target price for the company. Finally, Scotiabank lowered their price target on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.13.

Janux Therapeutics Price Performance

The firm has a 50-day simple moving average of $45.53 and a two-hundred day simple moving average of $45.30. The company has a market cap of $2.58 billion, a PE ratio of -40.83 and a beta of 3.54.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.20. The company had revenue of $8.90 million during the quarter, compared to the consensus estimate of $0.77 million. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The business’s revenue was up 709.1% compared to the same quarter last year. Equities research analysts forecast that Janux Therapeutics, Inc. will post -1.18 EPS for the current year.

Insiders Place Their Bets

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 958 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $46.24, for a total transaction of $44,297.92. Following the completion of the transaction, the insider now owns 6,887 shares of the company’s stock, valued at approximately $318,454.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction on Friday, September 27th. The stock was sold at an average price of $46.31, for a total value of $1,157,750.00. Following the completion of the sale, the chief executive officer now owns 307,054 shares of the company’s stock, valued at $14,219,670.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ventures Xi L.P. Avalon sold 958 shares of Janux Therapeutics stock in a transaction on Monday, September 30th. The shares were sold at an average price of $46.24, for a total value of $44,297.92. Following the completion of the sale, the insider now directly owns 6,887 shares of the company’s stock, valued at approximately $318,454.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 393,767 shares of company stock valued at $17,857,979. Corporate insiders own 35.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new stake in shares of Janux Therapeutics in the second quarter valued at $5,715,000. Blue Owl Capital Holdings LP acquired a new position in Janux Therapeutics in the second quarter valued at $1,676,000. The Manufacturers Life Insurance Company boosted its holdings in Janux Therapeutics by 234.7% in the second quarter. The Manufacturers Life Insurance Company now owns 24,048 shares of the company’s stock valued at $1,007,000 after acquiring an additional 16,864 shares during the last quarter. AQR Capital Management LLC acquired a new position in Janux Therapeutics in the second quarter valued at $215,000. Finally, Samlyn Capital LLC boosted its holdings in Janux Therapeutics by 9.6% in the second quarter. Samlyn Capital LLC now owns 324,703 shares of the company’s stock valued at $13,602,000 after acquiring an additional 28,312 shares during the last quarter. Hedge funds and other institutional investors own 75.39% of the company’s stock.

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.