Janux Therapeutics (NASDAQ:JANX) Sets New 12-Month Low - Should You Sell?

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $26.03 and last traded at $28.25, with a volume of 713126 shares trading hands. The stock had previously closed at $26.81.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JANX. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 price target on shares of Janux Therapeutics in a report on Monday, March 3rd. Scotiabank reduced their target price 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. 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 restated an "outperform" rating and issued a $76.00 price objective (up from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. Finally, William Blair reiterated an "outperform" rating on shares of Janux Therapeutics in a research report on Friday, January 10th. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $92.44.

Janux Therapeutics Stock Performance

The company has a 50 day simple moving average of $33.71 and a 200 day simple moving average of $45.06. The company has a market capitalization of $1.44 billion, a PE ratio of -20.84 and a beta of 3.27.

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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) EPS for the quarter, beating analysts' consensus estimates 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%. As a group, equities research analysts anticipate that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Insider Activity at Janux Therapeutics

In other Janux Therapeutics news, Director Ra Capital Management, L.P. acquired 110,206 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average price of $31.02 per share, with a total value of $3,418,590.12. Following the acquisition, the director now owns 10,141,287 shares of the company's stock, valued at $314,582,722.74. This trade represents a 1.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Alan Campbell sold 5,000 shares of the company's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the chief executive officer now directly owns 293,054 shares in the company, valued at approximately $17,583,240. This trade 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 sold 11,668 shares of company stock worth $548,183. Company insiders own 29.40% of the company's stock.

Institutional Trading of Janux Therapeutics

Several large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Janux Therapeutics by 202.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company's stock worth $10,639,000 after acquiring an additional 156,675 shares during the last quarter. Lester Murray Antman dba SimplyRich lifted 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 worth $1,301,000 after acquiring an additional 16,351 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Janux Therapeutics by 6.2% in the third quarter. Geode Capital Management LLC now owns 662,594 shares of the company's stock valued at $30,107,000 after purchasing an additional 38,490 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Janux Therapeutics during the third quarter valued at about $940,000. Finally, abrdn plc purchased a new stake in shares of Janux Therapeutics during the fourth quarter worth about $3,430,000. Institutional investors and hedge funds own 75.39% of the company's stock.

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.