Janux Therapeutics (NASDAQ:JANX) Stock Price Down 3.8%

Janux Therapeutics, Inc. (NASDAQ:JANX)’s share price dropped 3.8% during trading on Wednesday . The stock traded as low as $42.94 and last traded at $43.22. Approximately 49,302 shares traded hands during trading, a decline of 93% from the average daily volume of 748,240 shares. The stock had previously closed at $44.92.

Wall Street Analyst Weigh In

JANX has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $63.00 price objective on shares of Janux Therapeutics in a research report on Monday. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday, August 8th. Scotiabank dropped their target price on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. Finally, Wedbush reissued an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.57.

Janux Therapeutics Stock Performance

The stock has a market capitalization of $2.29 billion, a PE ratio of -36.23 and a beta of 3.57. The stock has a 50-day moving average price of $41.31 and a two-hundred day moving average price of $40.34.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. Janux Therapeutics had a negative return on equity of 13.49% and a negative net margin of 762.92%. The firm had revenue of $8.90 million for the quarter, compared to analysts’ expectations of $0.77 million. The firm’s revenue was up 709.1% on a year-over-year basis. As a group, equities analysts predict that Janux Therapeutics, Inc. will post -1.34 earnings per share for the current year.

Insider Activity at Janux Therapeutics

In related news, Director Jay Lichter sold 1,500,000 shares of Janux Therapeutics stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $82,125,000.00. Following the sale, the director now owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jay Lichter sold 1,500,000 shares of Janux Therapeutics stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $82,125,000.00. Following the sale, the director now owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the insider now directly owns 3,271,216 shares in the company, valued at approximately $179,099,076. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,000,000 shares of company stock valued at $164,250,000. 35.40% of the stock is owned by company insiders.

Institutional Trading of Janux Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake in Janux Therapeutics by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,965,546 shares of the company’s stock worth $73,961,000 after acquiring an additional 34,069 shares during the last quarter. Vanguard Group Inc. increased its stake in Janux Therapeutics by 38.6% in the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after acquiring an additional 378,477 shares during the last quarter. Logos Global Management LP increased its stake in Janux Therapeutics by 400.0% in the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock worth $31,418,000 after acquiring an additional 600,000 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Janux Therapeutics during the 1st quarter valued at approximately $20,420,000. Finally, Samlyn Capital LLC increased its position in shares of Janux Therapeutics by 9.6% during the 2nd quarter. Samlyn Capital LLC now owns 324,703 shares of the company’s stock valued at $13,602,000 after purchasing an additional 28,312 shares during the last quarter. 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.