Janux Therapeutics (NASDAQ:JANX) Shares Down 6.8% – Here’s What Happened

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

Wall Street Analyst Weigh In

JANX has been the subject of a number of recent research reports. Scotiabank increased their price objective on shares of Janux Therapeutics from $42.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 4th. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday, December 3rd. UBS Group initiated coverage on Janux Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $69.00 price target on the stock. Lifesci Capital raised Janux Therapeutics to a “strong-buy” rating in a report on Friday, December 27th. Finally, BTIG Research raised 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. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Janux Therapeutics currently has an average rating of “Buy” and a consensus price target of $89.90.

Janux Therapeutics Stock Down 6.0 %

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

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

Insiders Place Their Bets

In related news, major shareholder Ventures Xi L.P. Avalon sold 1,843 shares of Janux Therapeutics stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $50.02, for a total value of $92,186.86. Following the transaction, the insider now directly owns 6,371 shares of the company’s stock, valued at $318,677.42. This trade represents a 22.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Alan Campbell sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $67.00, for a total transaction of $1,005,000.00. Following the transaction, the chief executive officer now owns 242,054 shares of the company’s stock, valued at approximately $16,217,618. This represents a 5.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 105,177 shares of company stock worth $5,862,207 in the last 90 days. Company insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in JANX. Charles Schwab Investment Management Inc. increased its holdings in shares of Janux Therapeutics by 202.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock worth $10,639,000 after buying an additional 156,675 shares in the last quarter. Ally Bridge Group NY LLC acquired a new position in Janux Therapeutics during the 3rd quarter worth about $4,943,000. Algert Global LLC bought a new stake in Janux Therapeutics in the third quarter valued at approximately $1,112,000. FMR LLC boosted its stake in shares of Janux Therapeutics by 0.6% in 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 during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Janux Therapeutics during the 3rd quarter worth about $940,000. 75.39% of the stock is owned by institutional investors.

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.