Janux Therapeutics (NASDAQ:JANX) Shares Down 6.8% - Here's Why

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) traded down 6.8% on Wednesday . The company traded as low as $53.90 and last traded at $53.90. 201,332 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 983,251 shares. The stock had previously closed at $57.81.

Analyst Upgrades and Downgrades

JANX has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 price target on shares of Janux Therapeutics in a report on Wednesday, December 11th. HC Wainwright raised their target price on Janux Therapeutics from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Lifesci Capital raised shares of Janux Therapeutics to a "strong-buy" rating in a research report on Friday, December 27th. BTIG Research upped their price objective on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Finally, William Blair reaffirmed an "outperform" rating on shares of Janux Therapeutics in a research note on Tuesday, December 3rd. One research 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $89.90.

Janux Therapeutics Price Performance

The company has a market capitalization of $2.67 billion, a PE ratio of -43.44 and a beta of 3.23. The company's 50 day simple moving average is $54.58 and its 200 day simple moving average is $48.14.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The firm had revenue of $0.44 million during the quarter, compared to analysts' expectations of $1.50 million. Janux Therapeutics's quarterly revenue was down 82.6% on a year-over-year basis. On average, equities analysts forecast that Janux Therapeutics, Inc. will post -1.35 EPS for the current year.

Insider Buying and Selling

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of the firm's stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $50.02, for a total value of $92,186.86. Following the completion of the sale, the insider now owns 6,371 shares of the company's stock, valued at approximately $318,677.42. This trade represents a 22.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Hollman Meyer sold 13,334 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $54.88, for a total transaction of $731,769.92. Following the transaction, the insider now directly owns 82,139 shares in the company, valued at approximately $4,507,788.32. This trade represents a 13.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,177 shares of company stock valued at $5,862,207 over the last three months. 29.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds have recently bought and sold shares of the company. Plato Investment Management Ltd increased its stake in shares of Janux Therapeutics by 18.7% during the 3rd quarter. Plato Investment Management Ltd now owns 1,186 shares of the company's stock worth $54,000 after purchasing an additional 187 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Janux Therapeutics by 21.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company's stock valued at $87,000 after buying an additional 339 shares during the last quarter. Amalgamated Bank increased its position in Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company's stock worth $41,000 after buying an additional 368 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Janux Therapeutics by 48.0% in the third quarter. Virtu Financial LLC now owns 7,463 shares of the company's stock worth $339,000 after acquiring an additional 2,419 shares during the last quarter. Finally, Zacks Investment Management lifted its position in shares of Janux Therapeutics by 8.7% in the third quarter. Zacks Investment Management now owns 42,133 shares of the company's stock valued at $1,914,000 after acquiring an additional 3,360 shares in the last quarter. 75.39% of the stock is owned by hedge funds and other 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.