Janux Therapeutics (NASDAQ:JANX) Sets New 52-Week Low - Time to Sell?

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report)'s stock 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 trading hands. The stock had previously closed at $29.78.

Analysts Set New Price Targets

JANX has been the subject of several analyst reports. Wedbush reissued an "outperform" rating and issued a $76.00 price target (up previously from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 price objective on shares of Janux Therapeutics in a research report on Wednesday, December 11th. BTIG Research lifted their price target on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. William Blair reissued an "outperform" rating on shares of Janux Therapeutics in a research report on Friday, January 10th. Finally, Scotiabank dropped their price objective on Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $92.44.

Janux Therapeutics Trading Down 0.7 %

The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -22.91 and a beta of 3.23. The stock's fifty day moving average price is $35.05 and its two-hundred day moving average price is $45.71.

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Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.36) earnings per share (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%. Analysts anticipate that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. bought 341,742 shares of Janux Therapeutics stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $30.64 per share, with a total value of $10,470,974.88. Following the acquisition, the director now 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Hollman Meyer sold 13,334 shares of the stock in a transaction that occurred 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 directly owns 82,139 shares of the company's stock, valued at $4,507,788.32. The trade was a 13.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,002 shares of company stock valued at $1,279,953. 29.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of JANX. Russell Investments Group Ltd. lifted its holdings in shares of Janux Therapeutics by 77.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock valued at $54,000 after buying an additional 442 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Janux Therapeutics during the 4th quarter valued at approximately $59,000. Avanza Fonder AB acquired a new stake in shares of Janux Therapeutics during the 4th quarter valued at approximately $139,000. Meeder Asset Management Inc. acquired a new stake in shares of Janux Therapeutics in the 4th quarter worth approximately $159,000. Finally, Tower Research Capital LLC TRC increased its stake in Janux Therapeutics by 878.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company's stock valued at $205,000 after purchasing an additional 3,436 shares in 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.