Janux Therapeutics (NASDAQ:JANX) Trading Down 4.2% – What’s Next?

Janux Therapeutics, Inc. (NASDAQ:JANX) shares fell 4.2% during mid-day trading on Tuesday . The company traded as low as $40.54 and last traded at $40.29. 99,568 shares changed hands during trading, a decline of 91% from the average session volume of 1,068,532 shares. The stock had previously closed at $42.07.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JANX. Leerink Partnrs raised shares of Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. HC Wainwright boosted their price target on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Stifel Nicolaus raised their price objective on Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. BTIG Research boosted their target price on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, UBS Group started coverage on shares of Janux Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target on the stock. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $89.90.

Janux Therapeutics Stock Performance

The stock has a 50 day moving average of $51.47 and a two-hundred day moving average of $48.44. The firm has a market capitalization of $2.14 billion, a P/E ratio of -34.76 and a beta of 3.16.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.18). The firm had revenue of $0.44 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 82.6% on a year-over-year basis. Sell-side analysts predict that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Insider Buying and Selling

In related news, CEO David Alan Campbell sold 15,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $67.00, for a total value of $1,005,000.00. Following the transaction, the chief executive officer now directly owns 242,054 shares in the company, valued at $16,217,618. This represents a 5.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew Hollman Meyer sold 13,334 shares of the company’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 sale, the insider now owns 82,139 shares of the company’s stock, valued at $4,507,788.32. The trade was a 13.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,334 shares of company stock worth $4,731,520 in the last 90 days. 29.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd increased its holdings in shares of Janux Therapeutics by 18.7% in the third quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock worth $54,000 after acquiring an additional 187 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 acquiring an additional 339 shares during the last quarter. Avanza Fonder AB bought a new stake in Janux Therapeutics during the fourth quarter worth about $139,000. AQR Capital Management LLC acquired a new position in Janux Therapeutics during the second quarter valued at approximately $215,000. Finally, Chicago Capital LLC acquired a new position in shares of Janux Therapeutics during the 4th quarter worth approximately $230,000. 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.