Janux Therapeutics (NASDAQ:JANX) Hits New 52-Week Low – Here’s Why

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $28.91 and last traded at $29.10, with a volume of 469150 shares. The stock had previously closed at $29.78.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on JANX. Lifesci Capital upgraded Janux Therapeutics to a “strong-buy” rating in a research report on Friday, December 27th. HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Janux Therapeutics in a research note on Monday, March 3rd. Stifel Nicolaus increased their price objective on shares of Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Scotiabank cut their target price on shares of Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of Janux Therapeutics in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Janux Therapeutics presently has an average rating of “Buy” and an average target price of $92.44.

Janux Therapeutics Stock Performance

The firm has a market capitalization of $1.72 billion, a PE ratio of -24.87 and a beta of 3.23. The business’s fifty day simple moving average is $35.84 and its 200-day simple moving average is $46.08.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. Sell-side analysts expect that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. bought 110,206 shares of the stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $31.02 per share, for a total transaction of $3,418,590.12. Following the acquisition, the director now owns 10,141,287 shares of the company’s stock, valued at $314,582,722.74. The trade was a 1.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Alan Campbell sold 5,000 shares of Janux Therapeutics stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the chief executive officer now directly owns 293,054 shares of the company’s stock, valued at approximately $17,583,240. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,002 shares of company stock valued at $1,279,953 in the last three months. Corporate insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in shares of Janux Therapeutics by 77.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock worth $54,000 after acquiring an additional 442 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Janux Therapeutics during the 4th quarter valued at $59,000. Avanza Fonder AB purchased a new stake in shares of Janux Therapeutics in the 4th quarter worth $139,000. Meeder Asset Management Inc. bought a new position in shares of Janux Therapeutics during the 4th quarter worth $159,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Janux Therapeutics by 878.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company’s stock valued at $205,000 after buying an additional 3,436 shares during the period. Institutional investors own 75.39% of the company’s stock.

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.