Janux Therapeutics (NASDAQ:JANX) Shares Down 3.6%

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) fell 3.6% during trading on Tuesday . The company traded as low as $48.11 and last traded at $48.11. 192,022 shares were traded during mid-day trading, a decline of 73% from the average session volume of 721,013 shares. The stock had previously closed at $49.89.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on JANX shares. HC Wainwright restated a “buy” rating and issued a $63.00 target price on shares of Janux Therapeutics in a report on Monday, August 19th. Scotiabank cut their price objective on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a report on Friday, August 9th. Wedbush reiterated an “outperform” rating and set a $74.00 price objective on shares of Janux Therapeutics in a research report on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 target price on shares of Janux Therapeutics in a research report on Monday. Finally, Stifel Nicolaus started coverage on Janux Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.13.

Janux Therapeutics Stock Performance

The stock has a 50-day moving average price of $42.99 and a two-hundred day moving average price of $44.15. The stock has a market capitalization of $2.56 billion, a PE ratio of -40.89 and a beta of 3.57.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. The business had revenue of $8.90 million during the quarter, compared to analyst estimates of $0.77 million. Janux Therapeutics had a negative net margin of 291.17% and a negative return on equity of 8.78%. Janux Therapeutics’s revenue was up 709.1% on a year-over-year basis. As a group, equities analysts predict that Janux Therapeutics, Inc. will post -1.18 earnings per share for the current year.

Insider Buying and Selling at Janux Therapeutics

In related news, major shareholder Ventures Xi L.P. Avalon sold 2,182 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $42.33, for a total transaction of $92,364.06. Following the completion of the transaction, the insider now owns 7,000 shares in the company, valued at $296,310. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 268,578 shares of company stock valued at $12,071,151 in the last three months. 35.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of JANX. Summit Securities Group LLC purchased a new position in shares of Janux Therapeutics in the 2nd quarter worth $29,000. Amalgamated Bank increased its stake 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 acquiring an additional 368 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in Janux Therapeutics during the second quarter valued at approximately $42,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Janux Therapeutics in the 2nd quarter valued at approximately $151,000. Finally, AQR Capital Management LLC bought a new stake in shares of Janux Therapeutics in the 2nd quarter valued at approximately $215,000. 75.39% of the stock is currently owned by 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.