Janux Therapeutics (NASDAQ:JANX) Shares Down 4.2% - Here's Why

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) fell 4.2% during mid-day trading on Tuesday . The company traded as low as $40.54 and last traded at $40.29. 99,568 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,068,532 shares. The stock had previously closed at $42.07.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on JANX. Leerink Partners upped their target price on Janux Therapeutics from $79.00 to $91.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. UBS Group started coverage on Janux Therapeutics in a research report on Thursday, October 24th. They issued a "buy" rating and a $69.00 target price for the company. Lifesci Capital upgraded Janux Therapeutics to a "strong-buy" rating in a research report on Friday, December 27th. BTIG Research increased their price target on shares of Janux Therapeutics from $82.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Finally, William Blair reiterated 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 assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $89.90.

Janux Therapeutics Trading Down 3.2 %

The company's fifty day moving average is $51.07 and its 200-day moving average is $48.30. The firm has a market capitalization of $2.07 billion, a P/E ratio of -33.65 and a beta of 3.16.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.18). The firm had revenue of $0.44 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 82.6% compared to the same quarter last year. On average, equities research analysts anticipate that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Insider Activity at Janux Therapeutics

In related news, CEO David Alan Campbell sold 25,000 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the completion of the transaction, the chief executive officer now directly owns 257,054 shares in the company, valued at $13,263,986.40. This represents a 8.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew Hollman Meyer sold 3,334 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.29, for a total transaction of $140,994.86. Following the completion of the sale, the insider now owns 82,139 shares in the company, valued at $3,473,658.31. This represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,668 shares of company stock worth $4,872,515 in the last 90 days. 29.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Janux Therapeutics by 0.6% in the 3rd quarter. FMR LLC now owns 7,824,675 shares of the company's stock worth $355,475,000 after acquiring an additional 47,075 shares during the period. Janus Henderson Group PLC raised its stake in shares of Janux Therapeutics by 40.0% in the third quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company's stock valued at $114,587,000 after purchasing an additional 721,563 shares in the last quarter. Geode Capital Management LLC lifted its position in Janux Therapeutics by 6.2% in the third quarter. Geode Capital Management LLC now owns 662,594 shares of the company's stock worth $30,107,000 after purchasing an additional 38,490 shares during the period. Point72 Asset Management L.P. lifted its position in Janux Therapeutics by 190.2% in the third quarter. Point72 Asset Management L.P. now owns 395,875 shares of the company's stock worth $17,985,000 after purchasing an additional 259,445 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Janux Therapeutics by 16.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 273,135 shares of the company's stock worth $14,624,000 after buying an additional 38,944 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.