Janux Therapeutics (NASDAQ:JANX) Trading Down 6.8% on Insider Selling

Janux Therapeutics, Inc. (NASDAQ:JANX) shares dropped 6.8% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $53.90 and last traded at $53.90. Approximately 201,332 shares traded hands during trading, a decline of 80% from the average daily volume of 983,251 shares. The stock had previously closed at $57.81.

Specifically, CEO David Alan Campbell sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 293,054 shares of the company’s stock, valued at $17,583,240. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew Hollman Meyer sold 13,334 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 82,139 shares in the company, valued at $4,507,788.32. This trade represents a 13.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of equities research analysts have recently commented on JANX shares. Lifesci Capital upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Friday, December 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of Janux Therapeutics in a research note on Wednesday, December 11th. Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. Leerink Partners boosted their price objective on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank raised their target price on Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $89.90.

Janux Therapeutics Stock Performance

The stock has a market cap of $2.45 billion, a PE ratio of -39.97 and a beta of 3.23. The firm’s 50-day moving average is $54.42 and its 200 day moving average is $48.18.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The firm had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business’s quarterly revenue was down 82.6% compared to the same quarter last year. On average, sell-side analysts predict that Janux Therapeutics, Inc. will post -1.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in Janux Therapeutics by 64.5% in the 3rd quarter. Franklin Resources Inc. now owns 18,983 shares of the company’s stock valued at $937,000 after purchasing an additional 7,442 shares in the last quarter. Virtu Financial LLC lifted its stake in shares of Janux Therapeutics by 48.0% during the third quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock valued at $339,000 after buying an additional 2,419 shares during the period. Neo Ivy Capital Management acquired a new stake in Janux Therapeutics during the third quarter worth approximately $940,000. Geode Capital Management LLC grew its stake in Janux Therapeutics by 6.2% in the 3rd quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock worth $30,107,000 after acquiring an additional 38,490 shares during the period. Finally, Barclays PLC raised its holdings in Janux Therapeutics by 496.5% in the 3rd quarter. Barclays PLC now owns 174,061 shares of the company’s stock valued at $7,907,000 after acquiring an additional 144,883 shares during the last quarter. Institutional investors and hedge funds 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.