Janux Therapeutics (NASDAQ:JANX) Reaches New 52-Week Low on Analyst Downgrade

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report)'s stock price hit a new 52-week low during trading on Monday after Scotiabank lowered their price target on the stock from $62.00 to $41.00. Scotiabank currently has a sector perform rating on the stock. Janux Therapeutics traded as low as $31.67 and last traded at $31.68, with a volume of 490205 shares trading hands. The stock had previously closed at $32.89.

A number of other research analysts have also issued reports on JANX. BTIG Research boosted their price target on shares of Janux Therapeutics from $82.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price target on shares of Janux Therapeutics in a research note on Wednesday, December 11th. Wedbush reiterated an "outperform" rating and set a $76.00 price target (up from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. HC Wainwright boosted their price target on shares of Janux Therapeutics from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Finally, Leerink Partners boosted their price target on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $88.00.

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Insiders Place Their Bets

In other news, insider Andrew Hollman Meyer sold 3,334 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $32.15, for a total value of $107,188.10. Following the sale, the insider now directly owns 82,139 shares in the company, valued at $2,640,768.85. This represents a 3.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $300,000.00. Following the completion of the sale, the chief executive officer now owns 293,054 shares in the company, valued at $17,583,240. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,002 shares of company stock worth $2,684,703. 29.40% of the stock is owned by company insiders.

Institutional Trading of Janux Therapeutics

Several large investors have recently modified their holdings of JANX. RA Capital Management L.P. lifted its stake in shares of Janux Therapeutics by 13.1% during the fourth quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company's stock valued at $554,977,000 after buying an additional 1,200,000 shares during the period. Paradigm Biocapital Advisors LP lifted its stake in shares of Janux Therapeutics by 46.5% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company's stock valued at $188,246,000 after buying an additional 1,115,412 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Janux Therapeutics by 41.2% during the fourth quarter. Janus Henderson Group PLC now owns 3,562,402 shares of the company's stock valued at $190,617,000 after buying an additional 1,038,996 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in shares of Janux Therapeutics by 47.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company's stock valued at $163,926,000 after buying an additional 986,750 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Janux Therapeutics by 596.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,109,978 shares of the company's stock valued at $59,429,000 after buying an additional 950,557 shares during the period. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Janux Therapeutics Stock Down 2.4 %

The firm has a market cap of $1.61 billion, a PE ratio of -26.28 and a beta of 3.16. The firm's 50 day moving average is $41.74 and its 200-day moving average is $47.55.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, analysts forecast that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

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.