Janux Therapeutics (NASDAQ:JANX) Stock Price Down 7.1% - Time to Sell?

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) fell 7.1% on Monday . The company traded as low as $26.65 and last traded at $27.03. 208,899 shares were traded during mid-day trading, a decline of 75% from the average session volume of 839,031 shares. The stock had previously closed at $29.10.

Analyst Ratings Changes

JANX has been the subject of a number of research analyst reports. Wedbush restated an "outperform" rating and set a $76.00 target price (up from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. Lifesci Capital raised Janux Therapeutics to a "strong-buy" rating in a research report on Friday, December 27th. HC Wainwright restated a "buy" rating and set a $70.00 target price on shares of Janux Therapeutics in a research note on Monday, March 3rd. Scotiabank decreased their price target on shares of 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, Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price objective on shares of Janux Therapeutics in a research report on Wednesday, December 11th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $92.44.

Janux Therapeutics Price Performance

The firm's 50 day simple moving average is $34.46 and its 200-day simple moving average is $45.46. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -23.07 and a beta of 3.23.

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

Insider Activity

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 transaction, the insider now owns 82,139 shares of the company's stock, valued at approximately $2,640,768.85. The trade was a 3.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 341,742 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $30.64 per share, with a total value of $10,470,974.88. Following the completion of 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 disclosure for this purchase can be found here. Insiders have sold 11,668 shares of company stock valued at $548,183 in the last ninety days. 29.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors have recently bought and sold shares of JANX. Wellington Management Group LLP boosted its holdings in shares of Janux Therapeutics by 3,592.9% in the fourth quarter. Wellington Management Group LLP now owns 535,396 shares of the company's stock valued at $28,665,000 after acquiring an additional 520,898 shares in the last quarter. California State Teachers Retirement System lifted its position in Janux Therapeutics by 82.2% in the fourth quarter. California State Teachers Retirement System now owns 36,735 shares of the company's stock valued at $1,967,000 after purchasing an additional 16,575 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Janux Therapeutics in the 4th quarter valued at approximately $2,477,000. GF Fund Management CO. LTD. acquired a new position in Janux Therapeutics during the 4th quarter worth approximately $59,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Janux Therapeutics by 532.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,737 shares of the company's stock worth $8,874,000 after purchasing an additional 139,543 shares during the period. 75.39% of the stock is owned by institutional investors and hedge funds.

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.