Janux Therapeutics (NASDAQ:JANX) Trading Down 11.7% – Here’s What Happened

Janux Therapeutics, Inc. (NASDAQ:JANX) fell 11.7% on Friday . The company traded as low as $25.30 and last traded at $25.30. 539,234 shares changed hands during trading, a decline of 42% from the average session volume of 933,680 shares. The stock had previously closed at $28.66.

Analyst Ratings Changes

A number of brokerages recently issued reports on JANX. Piper Sandler assumed coverage on shares of Janux Therapeutics in a research report on Monday, August 18th. They issued an “overweight” rating and a $42.00 target price for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 price objective on shares of Janux Therapeutics in a report on Wednesday, September 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Wednesday, October 8th. Guggenheim assumed coverage on Janux Therapeutics in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $72.00 target price for the company. Finally, Raymond James Financial initiated coverage on Janux Therapeutics in a research report on Friday, July 11th. They set an “outperform” rating and a $65.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.17.

Janux Therapeutics Stock Down 8.2%

The stock’s 50 day moving average price is $25.03 and its two-hundred day moving average price is $25.29. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -14.48 and a beta of 2.83.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.39) EPS 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 expect that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In other news, insider Andrew Hollman Meyer sold 16,665 shares of the firm’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $30.06, for a total transaction of $500,949.90. Following the transaction, the insider owned 82,139 shares in the company, valued at approximately $2,469,098.34. This trade represents a 16.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds have recently bought and sold shares of the business. US Bancorp DE lifted its position in shares of Janux Therapeutics by 2,402.9% in the first quarter. US Bancorp DE now owns 1,727 shares of the company’s stock worth $47,000 after buying an additional 1,658 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Janux Therapeutics by 704.6% in the 2nd quarter. Osaic Holdings Inc. now owns 3,468 shares of the company’s stock valued at $80,000 after acquiring an additional 3,037 shares in the last quarter. Virtus Investment Advisers LLC lifted its holdings in Janux Therapeutics by 37.9% in the 2nd quarter. Virtus Investment Advisers LLC now owns 3,679 shares of the company’s stock worth $85,000 after purchasing an additional 1,011 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Janux Therapeutics by 175.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,928 shares of the company’s stock worth $91,000 after purchasing an additional 2,502 shares during the period. Finally, Ameritas Investment Partners Inc. grew its holdings in Janux Therapeutics by 25.6% during the second quarter. Ameritas Investment Partners Inc. now owns 4,020 shares of the company’s stock valued at $93,000 after purchasing an additional 820 shares during the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.

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.