Janux Therapeutics (NASDAQ:JANX) Shares Down 7.1% – What’s Next?

Janux Therapeutics, Inc. (NASDAQ:JANX) was down 7.1% during mid-day trading on Monday . The stock traded as low as $26.65 and last traded at $27.03. Approximately 208,899 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 839,031 shares. The stock had previously closed at $29.10.

Analyst Upgrades and Downgrades

JANX has been the topic of a number of research analyst reports. Leerink Partners lifted their target price on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research report on Friday, January 10th. Lifesci Capital upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Friday, December 27th. Scotiabank lowered their target price on shares of Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Finally, BTIG Research lifted their target price on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Janux Therapeutics currently has a consensus rating of “Buy” and an average target price of $92.44.

Janux Therapeutics Stock Down 6.5 %

The company’s fifty day moving average price is $35.60 and its two-hundred day moving average price is $46.01. The firm has a market cap of $1.61 billion, a PE ratio of -23.31 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Thursday, February 27th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. As a group, analysts predict that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO David Alan Campbell sold 5,000 shares of Janux Therapeutics stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief executive officer now owns 293,054 shares in the company, valued at approximately $17,583,240. This trade represents a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Hollman Meyer sold 13,334 shares of the business’s 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 transaction, the insider now directly owns 82,139 shares of the company’s stock, valued at approximately $4,507,788.32. This represents a 13.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,002 shares of company stock valued at $1,279,953. 29.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in Janux Therapeutics by 3,592.9% during the fourth quarter. Wellington Management Group LLP now owns 535,396 shares of the company’s stock worth $28,665,000 after purchasing an additional 520,898 shares during the period. California State Teachers Retirement System raised its position in shares of Janux Therapeutics by 82.2% in the 4th quarter. California State Teachers Retirement System now owns 36,735 shares of the company’s stock worth $1,967,000 after buying an additional 16,575 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Janux Therapeutics in the fourth quarter valued at $2,477,000. GF Fund Management CO. LTD. acquired a new position in Janux Therapeutics in the fourth quarter valued at $59,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Janux Therapeutics by 532.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,737 shares of the company’s stock valued at $8,874,000 after acquiring an additional 139,543 shares during the period. 75.39% of the stock is 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.