Janux Therapeutics (NASDAQ:JANX) Stock Price Down 3.5% – Should You Sell?

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price was down 3.5% on Wednesday . The company traded as low as $43.73 and last traded at $43.78. Approximately 357,185 shares changed hands during trading, a decline of 72% from the average daily volume of 1,294,180 shares. The stock had previously closed at $45.35.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JANX. Leerink Partners lifted their price target on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of Janux Therapeutics in a report on Wednesday, December 11th. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a report on Friday, January 10th. Lifesci Capital raised Janux Therapeutics to a “strong-buy” rating in a research note on Friday, December 27th. Finally, UBS Group started coverage on shares of Janux Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $69.00 price objective for the company. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $89.90.

Janux Therapeutics Price Performance

The company has a fifty day simple moving average of $53.85 and a two-hundred day simple moving average of $48.37. The company has a market capitalization of $2.31 billion, a P/E ratio of -37.55 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The company had revenue of $0.44 million during the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. Janux Therapeutics’s revenue for the quarter was down 82.6% on a year-over-year basis. Equities analysts anticipate that Janux Therapeutics, Inc. will post -1.35 earnings per share for the current year.

Insider Transactions at Janux Therapeutics

In other Janux Therapeutics news, Director Ra Capital Management, L.P. purchased 1,200,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was bought at an average cost of $44.75 per share, for a total transaction of $53,700,000.00. Following the completion of the acquisition, the director now directly owns 9,317,246 shares in the company, valued at $416,946,758.50. This represents a 14.78 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $50.02, for a total transaction of $92,186.86. Following the completion of the sale, the insider now owns 6,371 shares in the company, valued at approximately $318,677.42. The trade was a 22.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,177 shares of company stock worth $6,162,207. 29.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Janux Therapeutics

Large investors have recently bought and sold shares of the stock. Avanza Fonder AB acquired a new position in shares of Janux Therapeutics during the fourth quarter valued at about $139,000. Franklin Resources Inc. increased its stake in Janux Therapeutics by 64.5% during the third quarter. Franklin Resources Inc. now owns 18,983 shares of the company’s stock valued at $937,000 after acquiring an additional 7,442 shares during the period. Virtu Financial LLC raised its holdings in Janux Therapeutics by 48.0% in the 3rd quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock valued at $339,000 after acquiring an additional 2,419 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Janux Therapeutics in the 3rd quarter worth approximately $940,000. Finally, Geode Capital Management LLC grew its holdings in shares of Janux Therapeutics by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock worth $30,107,000 after purchasing an additional 38,490 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.