Janux Therapeutics (NASDAQ:JANX) Shares Down 6.8% After Insider Selling

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) fell 6.8% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $53.90 and last traded at $53.90. 201,332 shares changed hands during trading, a decline of 80% from the average session volume of 983,251 shares. The stock had previously closed at $57.81.

Specifically, CEO David Alan Campbell sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the chief executive officer now directly owns 293,054 shares of the company’s stock, valued at approximately $17,583,240. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Andrew Hollman Meyer sold 13,334 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $54.88, for a total transaction of $731,769.92. Following the completion of the sale, the insider now directly owns 82,139 shares of the company’s stock, valued at $4,507,788.32. This trade represents a 13.97 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. HC Wainwright upped their target price on shares of Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of Janux Therapeutics in a research report on Wednesday, December 11th. Lifesci Capital raised Janux Therapeutics to a “strong-buy” rating in a research report on Friday, December 27th. Leerink Partnrs raised Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Leerink Partners raised their price objective on Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Janux Therapeutics has a consensus rating of “Buy” and an average target price of $89.90.

Janux Therapeutics Stock Down 8.0 %

The stock has a market capitalization of $2.45 billion, a P/E ratio of -39.97 and a beta of 3.23. The company has a 50 day moving average of $54.42 and a 200-day moving average of $48.18.

Janux Therapeutics (NASDAQ:JANX) last posted 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 return on equity of 10.47% and a negative net margin of 463.91%. The business had revenue of $0.44 million during the quarter, compared to the consensus estimate of $1.50 million. The business’s quarterly revenue was down 82.6% on a year-over-year basis. Equities analysts forecast that Janux Therapeutics, Inc. will post -1.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Plato Investment Management Ltd lifted its position in Janux Therapeutics by 18.7% in the 3rd 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. raised its stake in shares of Janux Therapeutics by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after purchasing an additional 339 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after acquiring an additional 368 shares during the period. Virtu Financial LLC increased its position in shares of Janux Therapeutics by 48.0% during the 3rd quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock valued at $339,000 after purchasing an additional 2,419 shares during the period. Finally, Zacks Investment Management grew its holdings in Janux Therapeutics by 8.7% during the third quarter. Zacks Investment Management now owns 42,133 shares of the company’s stock worth $1,914,000 after acquiring an additional 3,360 shares during the period. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.