Janux Therapeutics (NASDAQ:JANX) Hits New 52-Week Low – Here’s What Happened

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price reached a new 52-week low on Friday . The stock traded as low as $28.91 and last traded at $29.10, with a volume of 469150 shares traded. The stock had previously closed at $29.78.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on JANX. BTIG Research lifted their price objective on 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 upped their price target on shares of Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of Janux Therapeutics in a research note on Wednesday, December 11th. Wedbush reaffirmed an “outperform” rating and issued a $76.00 target price (up from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Janux Therapeutics in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Janux Therapeutics presently has an average rating of “Buy” and an average target price of $92.44.

Janux Therapeutics Stock Performance

The business’s 50-day simple moving average is $35.60 and its 200 day simple moving average is $45.99. The firm has a market cap of $1.72 billion, a P/E ratio of -24.87 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings data 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 return on equity of 10.47% and a negative net margin of 463.91%. As a group, equities research analysts expect that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Insider Activity

In related news, Director Ra Capital Management, L.P. acquired 341,742 shares of Janux Therapeutics stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $30.64 per share, for a total transaction of $10,470,974.88. Following the purchase, the director now directly owns 9,658,988 shares of the company’s stock, valued at approximately $295,951,392.32. This trade represents a 3.67 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew Hollman Meyer sold 13,334 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $54.88, for a total value of $731,769.92. Following the completion of the transaction, the insider now directly owns 82,139 shares in the company, valued at approximately $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 25,002 shares of company stock valued at $1,279,953 in the last quarter. 29.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its holdings in Janux Therapeutics by 77.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock valued at $54,000 after purchasing an additional 442 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Janux Therapeutics by 1.6% during the 4th quarter. Rhumbline Advisers now owns 38,153 shares of the company’s stock valued at $2,043,000 after buying an additional 599 shares in the last quarter. Kennedy Capital Management LLC boosted its holdings in Janux Therapeutics by 7.9% in the 4th quarter. Kennedy Capital Management LLC now owns 12,713 shares of the company’s stock worth $681,000 after buying an additional 928 shares during the period. MetLife Investment Management LLC increased its stake in Janux Therapeutics by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 17,298 shares of the company’s stock worth $926,000 after buying an additional 949 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Janux Therapeutics by 10.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,128 shares of the company’s stock valued at $596,000 after acquiring an additional 1,095 shares during the period. 75.39% of the stock is currently owned by institutional investors.

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.