Janux Therapeutics (NASDAQ:JANX) Stock Price Down 6.8% Following Insider Selling

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) dropped 6.8% during trading on Wednesday after an insider sold shares in the company. 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.

Specifically, CEO David Alan Campbell sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 293,054 shares in the company, valued at approximately $17,583,240. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Hollman Meyer sold 13,334 shares of Janux Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $54.88, for a total value of $731,769.92. Following the sale, the insider now directly owns 82,139 shares of the company’s stock, valued at approximately $4,507,788.32. This trade represents a 13.97 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a report on Friday. Lifesci Capital upgraded shares of Janux Therapeutics to a “strong-buy” rating in a report on Friday, December 27th. HC Wainwright boosted their price target on shares of Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Leerink Partners boosted their target price on Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of Janux Therapeutics in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $89.90.

Janux Therapeutics Stock Down 8.0 %

The firm’s fifty day moving average is $54.42 and its two-hundred day moving average is $48.18. The firm has a market cap of $2.45 billion, a P/E ratio of -39.97 and a beta of 3.23.

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

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Plato Investment Management Ltd raised its holdings in 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 purchasing an additional 187 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Janux Therapeutics by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after purchasing an additional 339 shares in the last quarter. Amalgamated Bank increased its stake in shares of Janux Therapeutics by 61.1% in the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock worth $41,000 after purchasing an additional 368 shares in the last quarter. Virtu Financial LLC raised its stake in Janux Therapeutics by 48.0% during the 3rd quarter. Virtu Financial LLC now owns 7,463 shares of the company’s stock valued at $339,000 after purchasing an additional 2,419 shares during the period. Finally, Zacks Investment Management raised its position in shares of Janux Therapeutics by 8.7% during the third quarter. Zacks Investment Management now owns 42,133 shares of the company’s stock valued at $1,914,000 after buying an additional 3,360 shares during the last quarter. 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.