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

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $29.51 and last traded at $30.22, with a volume of 859554 shares traded. The stock had previously closed at $30.64.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on JANX. 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. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research report on Friday, January 10th. Wedbush reaffirmed an “outperform” rating and set a $76.00 target price (up from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. BTIG Research raised their target price on Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Leerink Partnrs raised Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $88.00.

Janux Therapeutics Stock Performance

The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -27.19 and a beta of 3.23. The business has a 50 day simple moving average of $39.91 and a 200-day simple moving average of $47.17.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. As a group, research analysts anticipate that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, Director Ra Capital Management, L.P. bought 110,206 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $31.02 per share, for a total transaction of $3,418,590.12. Following the purchase, the director now directly owns 10,141,287 shares of the company’s stock, valued at approximately $314,582,722.74. This represents a 1.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Hollman Meyer sold 3,334 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $32.15, for a total value of $107,188.10. Following the completion of the transaction, the insider now owns 82,139 shares in the company, valued at $2,640,768.85. The trade was a 3.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,002 shares of company stock worth $2,684,703. Insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of JANX. Plato Investment Management Ltd boosted its stake in shares of Janux Therapeutics by 18.7% in the 3rd quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock worth $54,000 after buying an additional 187 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Janux Therapeutics by 77.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock worth $54,000 after purchasing an additional 442 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Janux Therapeutics in the 4th quarter worth approximately $59,000. Avanza Fonder AB bought a new stake in shares of Janux Therapeutics in the 4th quarter worth approximately $139,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Janux Therapeutics in the 4th quarter worth approximately $159,000. Hedge funds and other institutional investors own 75.39% of the company’s stock.

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.