Janux Therapeutics (NASDAQ:JANX) Trading Down 3.5% – Time to Sell?

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on JANX shares. Leerink Partnrs raised shares of Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. BTIG Research lifted their target price on Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Lifesci Capital raised Janux Therapeutics to a “strong-buy” rating in a research note on Friday, December 27th. UBS Group started coverage on Janux Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $69.00 price target on the stock. Finally, HC Wainwright boosted their price objective on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $89.90.

Janux Therapeutics Stock Performance

The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -34.80 and a beta of 3.23. The business has a 50-day simple moving average of $53.36 and a two-hundred day simple moving average of $48.28.

Janux Therapeutics (NASDAQ:JANX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.50 million. The business’s revenue for the quarter was down 82.6% compared to the same quarter last year. On average, 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 stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the sale, the chief executive officer now owns 257,054 shares of the company’s stock, valued at approximately $13,263,986.40. This represents a 8.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Hollman Meyer sold 13,334 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 82,139 shares of the company’s stock, valued at $4,507,788.32. This represents a 13.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,334 shares of company stock worth $6,070,020 in the last quarter. Corporate insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Several hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Janux Therapeutics by 202.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock worth $10,639,000 after buying an additional 156,675 shares during the last quarter. Ally Bridge Group NY LLC acquired a new position in shares of Janux Therapeutics during the 3rd quarter worth approximately $4,943,000. Algert Global LLC acquired a new position in shares of Janux Therapeutics during the 3rd quarter worth approximately $1,112,000. FMR LLC lifted its holdings in Janux Therapeutics by 0.6% during the 3rd quarter. FMR LLC now owns 7,824,675 shares of the company’s stock valued at $355,475,000 after purchasing an additional 47,075 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in Janux Therapeutics during the third quarter worth $940,000. 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.