Janux Therapeutics (NASDAQ:JANX) Stock Price Down 4.2% – What’s Next?

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price was down 4.2% during trading on Monday . The company traded as low as $43.07 and last traded at $43.31. Approximately 103,171 shares traded hands during trading, a decline of 85% from the average daily volume of 706,741 shares. The stock had previously closed at $45.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus began coverage on Janux Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $70.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $63.00 price target on shares of Janux Therapeutics in a research note on Thursday, November 7th. Scotiabank reduced their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. UBS Group started coverage on shares of Janux Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price objective for the company. Finally, William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $67.70.

Janux Therapeutics Price Performance

The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -35.91 and a beta of 3.52. The stock has a 50 day simple moving average of $49.81 and a two-hundred day simple moving average of $45.77.

Janux Therapeutics (NASDAQ:JANX) last posted its earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The firm had revenue of $0.44 million for the quarter, compared to analyst estimates of $1.50 million. The company’s quarterly revenue was down 82.6% compared to the same quarter last year. Equities research analysts predict that Janux Therapeutics, Inc. will post -1.35 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $42.00, for a total value of $4,551,330.00. Following the completion of the sale, the insider now owns 3,162,851 shares in the company, valued at $132,839,742. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ra Capital Management, L.P. bought 1,200,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were acquired at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the transaction, the director now directly owns 9,317,246 shares in the company, valued at $416,946,758.50. This trade represents a 14.78 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 445,610 shares of company stock valued at $20,578,666. 29.40% of the stock is owned by company insiders.

Institutional Trading of Janux Therapeutics

A number of institutional investors have recently modified their holdings of the business. Summit Securities Group LLC purchased a new stake in shares of Janux Therapeutics during the 2nd quarter worth $29,000. Amalgamated Bank lifted its stake in shares of Janux Therapeutics by 61.1% in the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after purchasing an additional 368 shares during the period. Plato Investment Management Ltd purchased a new stake in Janux Therapeutics during the second quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. grew its position in Janux Therapeutics by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after buying an additional 339 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Janux Therapeutics in the second quarter valued at about $151,000. 75.39% of the stock is currently owned by hedge funds and other 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.