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

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price was down 7.1% during trading on Monday . The stock traded as low as $26.65 and last traded at $27.03. Approximately 208,899 shares traded 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. Wedbush restated an “outperform” rating and issued a $76.00 target price (up previously from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. Leerink Partners lifted their price target on Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Scotiabank dropped their price objective on shares of Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. BTIG Research boosted their target price on shares of Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Janux Therapeutics in a research note on Monday, March 3rd. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $92.44.

Janux Therapeutics Stock Up 4.2 %

The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -23.87 and a beta of 3.23. The firm has a 50 day moving average of $35.05 and a 200 day moving average of $45.71.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Equities analysts expect that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Insider Buying and Selling

In other news, 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 value of $731,769.92. Following the completion of the sale, the insider now owns 82,139 shares in the company, valued at $4,507,788.32. This represents a 13.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 110,206 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $31.02 per share, for a total transaction of $3,418,590.12. Following the completion of the transaction, the director now directly owns 10,141,287 shares of the company’s stock, valued at $314,582,722.74. This represents a 1.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 25,002 shares of company stock valued at $1,279,953. 29.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Janux Therapeutics

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