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

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price was down 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 daily volume of 1,068,532 shares. The stock had previously closed at $42.07.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on JANX. UBS Group started coverage on shares of Janux Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $69.00 price target for the company. Leerink Partners boosted their target price on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a report on Friday, January 10th. Finally, Stifel Nicolaus raised their target price on Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. One equities research 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’s stock. Based on data from MarketBeat, Janux Therapeutics has an average rating of “Buy” and a consensus target price of $89.90.

Janux Therapeutics Stock Performance

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

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business had revenue of $0.44 million for the quarter, compared to analysts’ expectations of $1.50 million. The business’s quarterly revenue was down 82.6% on a year-over-year basis. On average, sell-side analysts predict that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew Hollman Meyer sold 13,334 shares of the company’s stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David Alan Campbell sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the chief executive officer now directly owns 293,054 shares in the company, valued at $17,583,240. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,334 shares of company stock worth $4,731,520. Corporate insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Several large investors have recently added to or reduced their stakes in JANX. Dimensional Fund Advisors LP boosted its position in shares of Janux Therapeutics by 54.0% during the second quarter. Dimensional Fund Advisors LP now owns 24,019 shares of the company’s stock valued at $1,005,000 after buying an additional 8,422 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Janux Therapeutics in the second quarter worth about $215,000. The Manufacturers Life Insurance Company lifted its position in shares of Janux Therapeutics by 234.7% in the second quarter. The Manufacturers Life Insurance Company now owns 24,048 shares of the company’s stock valued at $1,007,000 after acquiring an additional 16,864 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Janux Therapeutics by 21.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after purchasing an additional 339 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Janux Therapeutics by 639.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 20,343 shares of the company’s stock worth $924,000 after purchasing an additional 17,592 shares in the last quarter. Institutional investors own 75.39% of the company’s stock.

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.