Janux Therapeutics (NASDAQ:JANX) Stock Price Down 6.8% – What’s Next?

Janux Therapeutics, Inc. (NASDAQ:JANX) was down 6.8% during trading on Wednesday . The stock traded as low as $53.90 and last traded at $53.90. Approximately 201,332 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 983,251 shares. The stock had previously closed at $57.81.

Analysts Set New Price Targets

Several research firms have recently weighed in on JANX. Stifel Nicolaus increased their price objective on Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of Janux Therapeutics in a research note on Wednesday, December 11th. Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. BTIG Research upped their target price on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Leerink Partners raised their target price on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $89.90.

Janux Therapeutics Trading Down 6.0 %

The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -46.46 and a beta of 3.23. The company has a 50 day moving average price of $54.58 and a 200 day moving average price of $48.14.

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

Insider Buying and Selling

In other news, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $50.02, for a total transaction of $92,186.86. Following the completion of the transaction, the insider now directly owns 6,371 shares in the company, valued at approximately $318,677.42. The trade was a 22.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ra Capital Management, L.P. bought 1,200,000 shares of the business’s stock in a transaction on Friday, October 18th. The stock was purchased at an average price of $44.75 per share, for a total transaction of $53,700,000.00. Following the completion of the acquisition, the director now owns 9,317,246 shares of the company’s stock, valued at approximately $416,946,758.50. This trade represents a 14.78 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 105,177 shares of company stock valued at $5,862,207 over the last ninety days. Insiders own 29.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JANX. FMR LLC lifted its holdings in shares of Janux Therapeutics by 0.6% during the 3rd quarter. FMR LLC now owns 7,824,675 shares of the company’s stock valued at $355,475,000 after purchasing an additional 47,075 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Janux Therapeutics by 40.0% during the third quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock worth $114,587,000 after buying an additional 721,563 shares during the period. Logos Global Management LP grew its holdings in shares of Janux Therapeutics by 400.0% during the second quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock worth $31,418,000 after buying an additional 600,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in Janux Therapeutics by 6.2% in the 3rd quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock valued at $30,107,000 after acquiring an additional 38,490 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Janux Therapeutics by 190.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 395,875 shares of the company’s stock valued at $17,985,000 after acquiring an additional 259,445 shares in the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.

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.