Janux Therapeutics (NASDAQ:JANX) Stock Price Down 4.6%

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price dropped 4.6% during trading on Tuesday . The company traded as low as $39.22 and last traded at $39.79. Approximately 245,485 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 802,316 shares. The stock had previously closed at $41.72.

Analyst Upgrades and Downgrades

JANX has been the topic of a number of research reports. Wedbush raised their price objective on Janux Therapeutics from $53.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. HC Wainwright raised their target price on Janux Therapeutics from $50.00 to $63.00 and gave the company a “buy” rating in a report on Monday, May 13th. BTIG Research began coverage on Janux Therapeutics in a report on Thursday, March 21st. They set a “buy” rating and a $62.00 target price on the stock. Jonestrading began coverage on Janux Therapeutics in a report on Tuesday, April 16th. They set a “buy” rating and a $70.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Janux Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $66.29.

Janux Therapeutics Trading Down 5.8 %

The business has a 50 day simple moving average of $47.65 and a two-hundred day simple moving average of $32.38. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -33.14 and a beta of 3.58.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.05. The company had revenue of $1.25 million during the quarter, compared to analyst estimates of $0.98 million. Janux Therapeutics had a negative return on equity of 13.49% and a negative net margin of 762.92%. Research analysts anticipate that Janux Therapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Insider Transactions at Janux Therapeutics

In other news, CFO Tighe Reardon sold 822,721 shares of Janux Therapeutics stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $45,043,974.75. Following the completion of the transaction, the chief financial officer now owns 633,673 shares in the company, valued at approximately $34,693,596.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Tighe Reardon sold 822,721 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $45,043,974.75. Following the completion of the transaction, the chief financial officer now owns 633,673 shares in the company, valued at approximately $34,693,596.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay Lichter sold 1,500,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $82,125,000.00. Following the transaction, the director now owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,000,000 shares of company stock worth $164,250,000. 35.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its stake in Janux Therapeutics by 10,740.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the company’s stock valued at $29,000 after acquiring an additional 2,685 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in Janux Therapeutics during the 4th quarter valued at $57,000. SG Americas Securities LLC bought a new stake in Janux Therapeutics during the 4th quarter valued at $100,000. Exchange Traded Concepts LLC raised its stake in Janux Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 14,204 shares of the company’s stock valued at $152,000 after acquiring an additional 3,602 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in Janux Therapeutics during the 1st quarter valued at $251,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

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.