Janux Therapeutics (NASDAQ:JANX) Hits New 1-Year Low – What’s Next?

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $28.91 and last traded at $29.10, with a volume of 469150 shares traded. The stock had previously closed at $29.78.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JANX. Lifesci Capital upgraded Janux Therapeutics to a “strong-buy” rating in a report on Friday, December 27th. Wedbush reissued an “outperform” rating and issued a $76.00 target price (up from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. BTIG Research upped their price target on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Stifel Nicolaus lifted their price objective on shares of Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Leerink Partners upped their target price on shares of Janux Therapeutics from $79.00 to $91.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Janux Therapeutics currently has a consensus rating of “Buy” and an average price target of $92.44.

Janux Therapeutics Stock Performance

The company has a market capitalization of $1.72 billion, a P/E ratio of -24.87 and a beta of 3.23. The firm’s fifty day moving average is $35.60 and its 200 day moving average is $45.99.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Thursday, February 27th. The company reported ($0.36) EPS 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%. On average, analysts forecast that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Insiders Place Their Bets

In related news, insider Andrew Hollman Meyer sold 13,334 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $54.88, for a total value of $731,769.92. Following the completion of the sale, the insider now owns 82,139 shares in the company, valued at approximately $4,507,788.32. The trade was a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. acquired 110,206 shares of Janux Therapeutics stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $31.02 per share, for a total transaction of $3,418,590.12. Following the completion of the acquisition, the director now directly owns 10,141,287 shares in the company, valued at $314,582,722.74. This trade represents a 1.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 25,002 shares of company stock worth $1,279,953 over the last quarter. Company insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of Janux Therapeutics by 77.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock valued at $54,000 after acquiring an additional 442 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Janux Therapeutics in the 4th quarter valued at about $59,000. Avanza Fonder AB purchased a new stake in shares of Janux Therapeutics in the 4th quarter worth approximately $139,000. Meeder Asset Management Inc. bought a new position in shares of Janux Therapeutics during the fourth quarter valued at approximately $159,000. Finally, Tower Research Capital LLC TRC increased its holdings in Janux Therapeutics by 878.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company’s stock valued at $205,000 after buying an additional 3,436 shares during the period. 75.39% of the stock is currently owned by hedge funds and other 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.