Janux Therapeutics (NASDAQ:JANX) Sets New 1-Year Low – Should You Sell?

by · The Cerbat Gem

Janux Therapeutics, Inc. (NASDAQ:JANX – Get Free Report)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $15.49 and last traded at $15.63, with a volume of 79087 shares traded. The stock had previously closed at $15.74.

Analyst Ratings Changes

Several analysts have issued reports on JANX shares. Guggenheim started coverage on Janux Therapeutics in a research note on Wednesday, September 3rd. They set a “buy” rating and a $72.00 price objective on the stock. Piper Sandler began coverage on Janux Therapeutics in a report on Monday, August 18th. They issued an “overweight” rating and a $42.00 price target for the company. HC Wainwright dropped their price target on Janux Therapeutics from $70.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Cantor Fitzgerald decreased their price objective on shares of Janux Therapeutics from $200.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Finally, Bank of America lowered their target price on shares of Janux Therapeutics from $58.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Janux Therapeutics has an average rating of “Moderate Buy” and an average target price of $62.67.

Check Out Our Latest Stock Report on JANX

Janux Therapeutics Stock Down 1.4%

The firm’s 50-day moving average price is $26.47 and its 200 day moving average price is $25.07. The firm has a market cap of $933.17 million, a P/E ratio of -9.25 and a beta of 2.82.

Janux Therapeutics (NASDAQ:JANX – Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.21. The firm had revenue of $10.00 million during the quarter, compared to the consensus estimate of $3.07 million. On average, equities analysts predict that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Buying and Selling at Janux Therapeutics

In other news, insider Andrew Hollman Meyer sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $32.98, for a total transaction of $109,922.34. Following the completion of the transaction, the insider directly owned 84,974 shares in the company, valued at approximately $2,802,442.52. The trade was a 3.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 23,331 shares of company stock worth $710,862 over the last quarter. Insiders own 29.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

Several hedge funds have recently added to or reduced their stakes in JANX. RA Capital Management L.P. grew its stake in shares of Janux Therapeutics by 7.9% in the first quarter. RA Capital Management L.P. now owns 11,189,693 shares of the company’s stock worth $302,122,000 after purchasing an additional 824,041 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Janux Therapeutics by 19.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 3,654,574 shares of the company’s stock valued at $98,673,000 after purchasing an additional 592,824 shares in the last quarter. Orbimed Advisors LLC lifted its holdings in Janux Therapeutics by 45.9% in the third quarter. Orbimed Advisors LLC now owns 1,766,100 shares of the company’s stock worth $43,163,000 after purchasing an additional 555,800 shares during the period. First Light Asset Management LLC grew its position in Janux Therapeutics by 110.0% in the 1st quarter. First Light Asset Management LLC now owns 658,824 shares of the company’s stock valued at $17,788,000 after buying an additional 345,042 shares in the last quarter. Finally, MPM Bioimpact LLC increased its stake in Janux Therapeutics by 146.6% during the 1st quarter. MPM Bioimpact LLC now owns 567,193 shares of the company’s stock valued at $15,314,000 after buying an additional 337,193 shares during the period. Institutional investors own 75.39% of the company’s stock.

Janux Therapeutics Company Profile

(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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