Janux Therapeutics (NASDAQ:JANX) Stock Price Down 4.2% – Should You Sell?

Janux Therapeutics, Inc. (NASDAQ:JANX) dropped 4.2% during trading on Tuesday . The company traded as low as $24.20 and last traded at $24.16. Approximately 421,020 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 872,643 shares. The stock had previously closed at $25.22.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Janux Therapeutics in a research report on Monday, March 3rd. Scotiabank lowered their price objective on shares of Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Finally, Wedbush reissued an “outperform” rating and issued a $76.00 target price (up previously from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Janux Therapeutics has an average rating of “Buy” and a consensus target price of $95.25.

Janux Therapeutics Price Performance

The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -20.67 and a beta of 3.24. The firm has a 50 day moving average price of $27.91 and a 200-day moving average price of $39.29.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.05. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. Equities research analysts predict that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Activity at Janux Therapeutics

In related news, Director Ra Capital Management, L.P. acquired 341,742 shares of Janux Therapeutics stock in a transaction dated Wednesday, March 5th. The stock was 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 of the company’s stock, valued at $295,951,392.32. This represents a 3.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew Hollman Meyer sold 3,334 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 82,139 shares in the company, valued at $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. Insiders have sold 10,001 shares of company stock valued at $313,964 over the last quarter. 8.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lester Murray Antman dba SimplyRich grew its holdings in shares of Janux Therapeutics by 205.3% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 24,315 shares of the company’s stock worth $1,301,000 after purchasing an additional 16,351 shares during the last quarter. abrdn plc purchased a new position in Janux Therapeutics during the 4th quarter worth approximately $3,430,000. Barclays PLC increased its position in Janux Therapeutics by 496.5% during the third quarter. Barclays PLC now owns 174,061 shares of the company’s stock worth $7,907,000 after buying an additional 144,883 shares during the period. Legal & General Group Plc lifted its stake in Janux Therapeutics by 45.3% in the fourth quarter. Legal & General Group Plc now owns 34,540 shares of the company’s stock valued at $1,849,000 after buying an additional 10,776 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings 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 during the period. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.