Janux Therapeutics (NASDAQ:JANX) Hits New 52-Week Low - Here's Why

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $22.60 and last traded at $22.88, with a volume of 146003 shares changing hands. The stock had previously closed at $23.79.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on JANX shares. Lifesci Capital raised shares of Janux Therapeutics to a "strong-buy" rating in a research report on Friday, December 27th. Wedbush reissued an "outperform" rating and issued a $76.00 price objective (up previously from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. William Blair reiterated an "outperform" rating on shares of Janux Therapeutics in a research note on Friday, January 10th. 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. Finally, HC Wainwright reiterated a "buy" rating and issued a $70.00 price objective on shares of Janux Therapeutics in a report on Monday, March 3rd. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Janux Therapeutics currently has an average rating of "Buy" and an average target price of $92.44.

Janux Therapeutics Price Performance

The company has a market capitalization of $1.71 billion, a P/E ratio of -24.74 and a beta of 3.27. The stock's 50 day moving average is $31.72 and its 200-day moving average is $44.14.

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

Insiders Place Their Bets

In other news, insider Andrew Hollman Meyer sold 3,334 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was 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 of the company's stock, valued at $2,640,768.85. The trade was a 3.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ra Capital Management, L.P. purchased 110,206 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $31.02 per share, for a total transaction of $3,418,590.12. Following the purchase, the director now directly owns 10,141,287 shares in the company, valued at $314,582,722.74. The trade was a 1.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 29.40% of the company's stock.

Hedge Funds Weigh In On Janux Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Lester Murray Antman dba SimplyRich grew its position in Janux Therapeutics by 205.3% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 24,315 shares of the company's stock valued at $1,301,000 after purchasing an additional 16,351 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Janux Therapeutics by 6.2% during the third quarter. Geode Capital Management LLC now owns 662,594 shares of the company's stock valued at $30,107,000 after buying an additional 38,490 shares during the last quarter. abrdn plc bought a new stake in shares of Janux Therapeutics during the fourth quarter valued at approximately $3,430,000. 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 worth $7,907,000 after acquiring an additional 144,883 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Janux Therapeutics by 1.6% in the 4th quarter. Rhumbline Advisers now owns 38,153 shares of the company's stock valued at $2,043,000 after acquiring an additional 599 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors.

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.