Janux Therapeutics (NASDAQ:JANX) Trading Down 3.8%

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report)'s stock price traded down 3.8% during trading on Wednesday . The stock traded as low as $42.94 and last traded at $43.22. 49,302 shares were traded during trading, a decline of 93% from the average session volume of 748,240 shares. The stock had previously closed at $44.92.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. HC Wainwright reiterated a "buy" rating and set a $63.00 target price on shares of Janux Therapeutics in a report on Monday. Wedbush reiterated an "outperform" rating and set a $74.00 target price on shares of Janux Therapeutics in a report on Thursday, August 8th. Scotiabank dropped their target price on Janux Therapeutics from $47.00 to $42.00 and set a "sector perform" rating on the stock in a report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $100.00 target price on shares of Janux Therapeutics in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.57.

Janux Therapeutics Stock Performance

The firm has a fifty day simple moving average of $41.27 and a 200-day simple moving average of $40.31. The company has a market capitalization of $2.33 billion, a PE ratio of -36.80 and a beta of 3.57.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.20. Janux Therapeutics had a negative return on equity of 13.49% and a negative net margin of 762.92%. The company had revenue of $8.90 million for the quarter, compared to the consensus estimate of $0.77 million. Janux Therapeutics's quarterly revenue was up 709.1% compared to the same quarter last year. As a group, research analysts anticipate that Janux Therapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Insider Activity

In other news, Director Jay Lichter sold 1,500,000 shares of the business's stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $82,125,000.00. Following the completion of the sale, the director now directly owns 633,673 shares in the company, valued at approximately $34,693,596.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jay Lichter sold 1,500,000 shares of the business's stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $82,125,000.00. Following the completion of the sale, the director now directly owns 633,673 shares in the company, valued at approximately $34,693,596.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tighe Reardon sold 822,721 shares of the business's stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $45,043,974.75. Following the completion of the sale, the chief financial officer now owns 633,673 shares of the company's stock, valued at $34,693,596.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,000,000 shares of company stock worth $164,250,000. 35.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors have recently made changes to their positions in JANX. Logos Global Management LP boosted its position in Janux Therapeutics by 400.0% during the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company's stock valued at $31,418,000 after purchasing an additional 600,000 shares during the period. Lord Abbett & CO. LLC acquired a new position in Janux Therapeutics during the 1st quarter valued at approximately $20,420,000. Vanguard Group Inc. boosted its position in Janux Therapeutics by 38.6% during the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company's stock valued at $51,127,000 after purchasing an additional 378,477 shares during the period. Altitude Crest Partners Inc. acquired a new position in Janux Therapeutics during the 1st quarter valued at approximately $7,278,000. Finally, Point72 Asset Management L.P. acquired a new position in Janux Therapeutics during the 2nd quarter valued at approximately $5,715,000. 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.