Janux Therapeutics (NASDAQ:JANX) Shares Down 3.5% - Time to Sell?

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) shares fell 3.5% during trading on Wednesday . The company traded as low as $43.73 and last traded at $43.78. 357,185 shares were traded during trading, a decline of 72% from the average session volume of 1,294,180 shares. The stock had previously closed at $45.35.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on JANX. UBS Group initiated coverage on Janux Therapeutics in a research note on Thursday, October 24th. They issued a "buy" rating and a $69.00 target price for the company. Stifel Nicolaus increased their price objective on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Lifesci Capital upgraded shares of Janux Therapeutics to a "strong-buy" rating in a research note on Friday, December 27th. BTIG Research upped their target price on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Finally, William Blair reaffirmed an "outperform" rating on shares of Janux Therapeutics in a research note on Friday, January 10th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $89.90.

Janux Therapeutics Stock Performance

The company's fifty day moving average price is $53.85 and its 200 day moving average price is $48.37. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -37.55 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.51) EPS 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 analyst estimates of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business's quarterly revenue was down 82.6% compared to the same quarter last year. As a group, sell-side analysts expect that Janux Therapeutics, Inc. will post -1.35 earnings per share for the current year.

Insiders Place Their Bets

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of the firm's stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $50.02, for a total value of $92,186.86. Following the sale, the insider now owns 6,371 shares in the company, valued at approximately $318,677.42. This trade represents a 22.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Alan Campbell sold 25,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $53.54, for a total value of $1,338,500.00. Following the transaction, the chief executive officer now owns 282,054 shares of the company's stock, valued at approximately $15,101,171.16. This represents a 8.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,177 shares of company stock valued at $6,162,207 over the last three months. Company insiders own 29.40% of the company's stock.

Institutional Investors Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of JANX. Plato Investment Management Ltd increased its stake in Janux Therapeutics by 18.7% during the 3rd quarter. Plato Investment Management Ltd now owns 1,186 shares of the company's stock valued at $54,000 after buying an additional 187 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company's stock valued at $87,000 after acquiring an additional 339 shares in the last quarter. Amalgamated Bank increased its stake in shares of Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company's stock valued at $41,000 after acquiring an additional 368 shares during the period. Virtu Financial LLC increased its stake in shares of Janux Therapeutics by 48.0% during the third 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 during the period. Finally, Avanza Fonder AB bought a new stake in Janux Therapeutics during the fourth quarter worth approximately $139,000. 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.

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