Janux Therapeutics (NASDAQ:JANX) Stock Price Down 3.6%

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price dropped 3.6% on Tuesday . The company traded as low as $48.11 and last traded at $48.11. Approximately 192,022 shares were traded during trading, a decline of 73% from the average daily volume of 721,013 shares. The stock had previously closed at $49.89.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on JANX. Scotiabank decreased their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Janux Therapeutics in a research note on Monday. Stifel Nicolaus assumed coverage on shares of Janux Therapeutics in a report on Friday, September 6th. They set a “buy” rating and a $70.00 price objective on the stock. 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. Finally, Wedbush reaffirmed an “outperform” rating and set a $74.00 price target on shares of Janux Therapeutics in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Janux Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $66.13.

Janux Therapeutics Stock Up 3.4 %

The firm’s 50 day simple moving average is $43.28 and its 200-day simple moving average is $44.19. The company has a market capitalization of $2.59 billion, a PE ratio of -40.97 and a beta of 3.57.

Janux Therapeutics (NASDAQ:JANX) last announced 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. Janux Therapeutics had a negative net margin of 291.17% and a negative return on equity of 8.78%. The firm had revenue of $8.90 million during the quarter, compared to analysts’ expectations of $0.77 million. Janux Therapeutics’s revenue for the quarter was up 709.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Janux Therapeutics, Inc. will post -1.18 EPS for the current fiscal year.

Insider Activity

In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 158,031 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.00, for a total value of $7,427,457.00. Following the completion of the transaction, the insider now owns 2,959,175 shares in the company, valued at approximately $139,081,225. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 268,578 shares of company stock worth $12,071,151. 35.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Janux Therapeutics

A number of institutional investors have recently added to or reduced their stakes in JANX. Swiss National Bank increased its position in shares of Janux Therapeutics by 39.5% during the fourth quarter. Swiss National Bank now owns 31,800 shares of the company’s stock worth $341,000 after acquiring an additional 9,000 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Janux Therapeutics during the 4th quarter worth approximately $553,000. China Universal Asset Management Co. Ltd. increased its holdings in Janux Therapeutics by 82.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,743 shares of the company’s stock worth $367,000 after purchasing an additional 4,400 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Janux Therapeutics in the 1st quarter valued at approximately $1,969,000. Finally, Lester Murray Antman dba SimplyRich purchased a new position in shares of Janux Therapeutics during the 1st quarter valued at approximately $300,000. Institutional investors and hedge funds 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.