Janux Therapeutics (NASDAQ:JANX) Reaches New 1-Year Low – Here’s What Happened

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $28.91 and last traded at $29.10, with a volume of 469150 shares trading hands. The stock had previously closed at $29.78.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Lifesci Capital raised shares of Janux Therapeutics to a “strong-buy” rating in a research note on Friday, December 27th. Wedbush reissued an “outperform” rating and issued a $76.00 price target (up from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. Scotiabank dropped their price objective on Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a research note on Friday, January 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of Janux Therapeutics in a research report on Wednesday, December 11th. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $92.44.

Janux Therapeutics Price Performance

The business’s fifty day moving average price is $35.84 and its two-hundred day moving average price is $46.08. The stock has a market capitalization of $1.72 billion, a PE ratio of -24.87 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.36) earnings per share 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, equities research analysts anticipate that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In related news, Director Ra Capital Management, L.P. acquired 341,742 shares of the stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $30.64 per share, for a total transaction of $10,470,974.88. Following the transaction, the director now owns 9,658,988 shares in the company, valued at approximately $295,951,392.32. This trade represents a 3.67 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Hollman Meyer sold 3,334 shares of Janux Therapeutics stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $32.15, for a total transaction of $107,188.10. Following the transaction, the insider now directly owns 82,139 shares of the company’s stock, valued at approximately $2,640,768.85. This trade represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,002 shares of company stock valued at $1,279,953. 29.40% of the stock is owned by insiders.

Institutional Trading of Janux Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of JANX. Russell Investments Group Ltd. lifted its stake in Janux Therapeutics by 77.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock valued at $54,000 after buying an additional 442 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Janux Therapeutics by 1.6% in the fourth quarter. Rhumbline Advisers now owns 38,153 shares of the company’s stock valued at $2,043,000 after acquiring an additional 599 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Janux Therapeutics by 7.9% in the fourth quarter. Kennedy Capital Management LLC now owns 12,713 shares of the company’s stock worth $681,000 after acquiring an additional 928 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Janux Therapeutics by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 17,298 shares of the company’s stock worth $926,000 after purchasing an additional 949 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in Janux Therapeutics by 10.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,128 shares of the company’s stock valued at $596,000 after purchasing an additional 1,095 shares during the last quarter. Hedge funds and other institutional investors 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.