Janux Therapeutics (NASDAQ:JANX) Trading Down 3.6% – Here’s Why

by · The Cerbat Gem

Janux Therapeutics, Inc. (NASDAQ:JANX – Get Free Report) traded down 3.6% on Wednesday . The company traded as low as $50.47 and last traded at $50.82. 102,613 shares were traded during mid-day trading, a decline of 86% from the average session volume of 710,869 shares. The stock had previously closed at $52.74.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus assumed coverage on Janux Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $70.00 target price for the company. Wedbush reissued an “outperform” rating and set a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. Scotiabank lowered their target price on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. HC Wainwright reissued a “buy” rating and set a $63.00 target price on shares of Janux Therapeutics in a research note on Monday, August 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.13.

Get Our Latest Report on JANX

Janux Therapeutics Stock Performance

The company has a 50-day moving average price of $45.53 and a 200-day moving average price of $45.30. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -40.83 and a beta of 3.54.

Janux Therapeutics (NASDAQ:JANX – Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.20. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The business had revenue of $8.90 million during the quarter, compared to the consensus estimate of $0.77 million. Janux Therapeutics’s revenue was up 709.1% compared to the same quarter last year. On average, research analysts expect that Janux Therapeutics, Inc. will post -1.18 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Ventures Xi L.P. Avalon sold 958 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $46.24, for a total value of $44,297.92. Following the completion of the sale, the insider now directly owns 6,887 shares of the company’s stock, valued at approximately $318,454.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Ventures Xi L.P. Avalon sold 958 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $46.24, for a total value of $44,297.92. Following the completion of the sale, the insider now directly owns 6,887 shares of the company’s stock, valued at approximately $318,454.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Alan Campbell sold 25,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $46.31, for a total value of $1,157,750.00. Following the completion of the sale, the chief executive officer now directly owns 307,054 shares of the company’s stock, valued at $14,219,670.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 393,767 shares of company stock valued at $17,857,979. Insiders own 35.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in JANX. Summit Securities Group LLC purchased a new stake in Janux Therapeutics during the 2nd quarter valued at approximately $29,000. Amalgamated Bank raised its stake in Janux Therapeutics by 61.1% during the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $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 2nd quarter valued at approximately $42,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Janux Therapeutics during the 2nd quarter valued at approximately $151,000. Finally, AQR Capital Management LLC purchased a new stake in Janux Therapeutics during the 2nd quarter valued at approximately $215,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

About Janux Therapeutics

(Get Free Report)

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.

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