Janux Therapeutics (NASDAQ:JANX) Trading Down 4.2% – Here’s Why

Janux Therapeutics, Inc. (NASDAQ:JANX) shares traded down 4.2% during trading on Tuesday . The stock 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.

Analysts Set New Price Targets

Several research firms have recently commented on JANX. Scotiabank lifted their target price on Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 4th. UBS Group assumed coverage on shares of Janux Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $69.00 target price on the stock. BTIG Research raised 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. Stifel Nicolaus increased their price objective on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Leerink Partnrs raised shares of Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Janux Therapeutics currently has a consensus rating of “Buy” and an average price target of $89.90.

Janux Therapeutics Stock Performance

The company’s fifty day simple moving average is $51.30 and its two-hundred day simple moving average is $48.39. The stock has a market capitalization of $2.14 billion, a P/E ratio of -34.77 and a beta of 3.16.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates 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 revenue was down 82.6% on a year-over-year basis. On average, research analysts predict that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Transactions at Janux Therapeutics

In other news, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction on Monday, November 25th. The stock was sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the sale, the chief executive officer now directly owns 257,054 shares in the company, valued at $13,263,986.40. The trade was a 8.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew Hollman Meyer sold 3,334 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.29, for a total transaction of $140,994.86. Following the sale, the insider now directly owns 82,139 shares in the company, valued at approximately $3,473,658.31. This trade represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,668 shares of company stock worth $4,872,515 over the last three months. 29.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

Several hedge funds have recently made changes to their positions in JANX. Plato Investment Management Ltd increased its stake in Janux Therapeutics by 18.7% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted 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 in the last quarter. Avanza Fonder AB bought a new stake in shares of Janux Therapeutics during the fourth quarter valued at approximately $139,000. Chicago Capital LLC bought a new position in Janux Therapeutics during the fourth quarter valued at approximately $230,000. Finally, AQR Capital Management LLC purchased a new stake in Janux Therapeutics during the second quarter valued at $215,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

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.