Janux Therapeutics (NASDAQ:JANX) Stock Price Down 4.3%

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) dropped 4.3% on Tuesday . The company traded as low as $45.58 and last traded at $45.69. Approximately 452,716 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 776,518 shares. The stock had previously closed at $47.72.

Analyst Upgrades and Downgrades

JANX has been the topic of a number of recent analyst reports. Scotiabank initiated coverage on Janux Therapeutics in a research note on Thursday, May 30th. They issued a “sector perform” rating and a $47.00 target price on the stock. Jonestrading initiated coverage on Janux Therapeutics in a research note on Tuesday, April 16th. They issued a “buy” rating and a $70.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of Janux Therapeutics in a research note on Thursday, May 9th. HC Wainwright increased their target price on Janux Therapeutics from $50.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, Wedbush raised their price target on Janux Therapeutics from $53.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.29.

Janux Therapeutics Price Performance

The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -35.05 and a beta of 3.58. The stock has a fifty day moving average of $43.74 and a 200 day moving average of $36.09.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. Janux Therapeutics had a negative return on equity of 13.49% and a negative net margin of 762.92%. The firm had revenue of $1.25 million during the quarter, compared to the consensus estimate of $0.98 million. As a group, equities analysts expect that Janux Therapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, CFO Tighe Reardon sold 822,721 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 $45,043,974.75. Following the completion of the transaction, the chief financial officer now directly owns 633,673 shares of the company’s stock, valued at $34,693,596.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Ventures Xi L.P. Avalon sold 677,279 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 $37,081,025.25. Following the completion of the sale, the insider now directly owns 3,271,216 shares in the company, valued at $179,099,076. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Over the last ninety days, insiders sold 3,000,000 shares of company stock valued at $164,250,000. 35.40% of the stock is owned by company insiders.

Institutional Trading of Janux Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Janux Therapeutics in the second quarter valued at approximately $1,452,000. DNB Asset Management AS purchased a new stake in shares of Janux Therapeutics during the second quarter worth approximately $221,000. Virtu Financial LLC purchased a new stake in shares of Janux Therapeutics during the first quarter worth approximately $609,000. Artal Group S.A. purchased a new stake in shares of Janux Therapeutics during the first quarter worth approximately $1,882,000. Finally, Janus Henderson Group PLC increased its position in shares of Janux Therapeutics by 1.8% during the first quarter. Janus Henderson Group PLC now owns 1,965,546 shares of the company’s stock worth $73,961,000 after purchasing an additional 34,069 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

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.