Janux Therapeutics (NASDAQ:JANX) Stock Price Down 7.1% – Here’s What Happened

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price fell 7.1% during mid-day trading on Monday . The stock traded as low as $26.65 and last traded at $27.03. 208,899 shares were traded during mid-day trading, a decline of 75% from the average session volume of 839,031 shares. The stock had previously closed at $29.10.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and issued a $76.00 target price (up previously from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. Leerink Partners raised their target price on Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research report on Friday, January 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Janux Therapeutics in a report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $92.44.

Janux Therapeutics Trading Down 6.5 %

The company’s 50-day moving average price is $35.60 and its two-hundred day moving average price is $46.01. The company has a market cap of $1.61 billion, a P/E ratio of -23.31 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating 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%. As a group, analysts anticipate that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO David Alan Campbell sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the chief executive officer now directly owns 293,054 shares in the company, valued at approximately $17,583,240. This trade represents a 1.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Hollman Meyer sold 13,334 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $54.88, for a total transaction of $731,769.92. Following the sale, the insider now directly owns 82,139 shares of the company’s stock, valued at approximately $4,507,788.32. This represents a 13.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,002 shares of company stock worth $1,279,953 over the last ninety days. 29.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JANX. RA Capital Management L.P. boosted its holdings in shares of Janux Therapeutics by 13.1% during the fourth quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company’s stock valued at $554,977,000 after acquiring an additional 1,200,000 shares during the period. Paradigm Biocapital Advisors LP boosted its stake in Janux Therapeutics by 46.5% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company’s stock valued at $188,246,000 after purchasing an additional 1,115,412 shares during the period. Janus Henderson Group PLC grew its position in Janux Therapeutics by 41.2% in the 4th quarter. Janus Henderson Group PLC now owns 3,562,402 shares of the company’s stock worth $190,617,000 after purchasing an additional 1,038,996 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Janux Therapeutics by 47.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company’s stock valued at $163,926,000 after purchasing an additional 986,750 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Janux Therapeutics by 596.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,109,978 shares of the company’s stock valued at $59,429,000 after buying an additional 950,557 shares during the last quarter. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.