Janux Therapeutics (NASDAQ:JANX) Shares Down 4%

Janux Therapeutics, Inc. (NASDAQ:JANX) shares were down 4% during mid-day trading on Wednesday . The company traded as low as $39.45 and last traded at $39.83. Approximately 131,765 shares were traded during trading, a decline of 83% from the average daily volume of 792,525 shares. The stock had previously closed at $41.47.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JANX. Bank of America increased their price target on shares of Janux Therapeutics from $24.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. BTIG Research began coverage on shares of Janux Therapeutics in a research report on Thursday, March 21st. They set a “buy” rating and a $62.00 price target for the company. Scotiabank assumed coverage on shares of Janux Therapeutics in a report on Thursday, May 30th. They issued a “sector perform” rating and a $47.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price objective on shares of Janux Therapeutics in a research note on Thursday, May 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a report on Tuesday, February 27th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.29.

Janux Therapeutics Price Performance

The business’s fifty day simple moving average is $48.26 and its 200-day simple moving average is $31.50.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. The company had revenue of $1.25 million for the quarter, compared to analysts’ expectations of $0.98 million. Janux Therapeutics had a negative net margin of 762.92% and a negative return on equity of 13.49%. On average, equities analysts expect that Janux Therapeutics, Inc. will post -1.34 earnings per share for the current year.

Insider Activity at Janux Therapeutics

In related news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $37,081,025.25. Following the sale, the insider now directly owns 3,271,216 shares of the company’s stock, valued at $179,099,076. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 677,279 shares of Janux Therapeutics 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 $37,081,025.25. Following the completion of the sale, the insider now owns 3,271,216 shares of the company’s stock, valued at approximately $179,099,076. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Tighe Reardon sold 822,721 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $54.75, for a total value of $45,043,974.75. Following the transaction, the chief financial officer now directly owns 633,673 shares in the company, valued at $34,693,596.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,000,000 shares of company stock valued at $164,250,000. 35.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Janux Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its stake in shares of 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 buying an additional 2,685 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Janux Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 14,204 shares of the company’s stock worth $152,000 after purchasing an additional 3,602 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Janux Therapeutics by 82.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,743 shares of the company’s stock valued at $367,000 after purchasing an additional 4,400 shares during the period. ProShare Advisors LLC purchased a new position in Janux Therapeutics in the 1st quarter worth approximately $251,000. Finally, Lester Murray Antman dba SimplyRich purchased a new position in Janux Therapeutics in the 1st quarter worth approximately $300,000. 75.39% of the stock is owned by institutional investors.

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.