Janux Therapeutics (NASDAQ:JANX) Reaches New 1-Year Low – Time to Sell?

Janux Therapeutics, Inc. (NASDAQ:JANX) shares hit a new 52-week low on Wednesday . The stock traded as low as $22.60 and last traded at $22.88, with a volume of 146003 shares trading hands. The stock had previously closed at $23.79.

Analyst Ratings Changes

Several analysts have commented on the stock. Lifesci Capital raised shares of Janux Therapeutics to a “strong-buy” rating in a research report on Friday, December 27th. Wedbush reissued an “outperform” rating and set a $76.00 target price (up from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Janux Therapeutics in a research report on Monday, March 3rd. 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 issued a $200.00 price objective on shares of Janux Therapeutics in a research note on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $92.44.

Janux Therapeutics Stock Down 2.8 %

The firm has a 50-day moving average price of $32.97 and a two-hundred day moving average price of $44.73. The company has a market capitalization of $1.37 billion, a P/E ratio of -19.76 and a beta of 3.27.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results 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 net margin of 463.91% and a negative return on equity of 10.47%. On average, analysts predict that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Andrew Hollman Meyer sold 3,334 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.15, for a total value of $107,188.10. Following the sale, the insider now owns 82,139 shares of the company’s stock, valued at $2,640,768.85. The trade was a 3.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 110,206 shares of the business’s stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $31.02 per share, with a total value of $3,418,590.12. Following the purchase, the director now owns 10,141,287 shares of the company’s stock, valued at approximately $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. 29.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of JANX. Charles Schwab Investment Management Inc. increased its position in Janux Therapeutics by 202.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock valued at $10,639,000 after acquiring an additional 156,675 shares in the last quarter. Lester Murray Antman dba SimplyRich boosted its holdings in Janux Therapeutics by 205.3% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 24,315 shares of the company’s stock valued at $1,301,000 after acquiring an additional 16,351 shares during the last quarter. Geode Capital Management LLC increased its position in Janux Therapeutics by 6.2% in the third quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock worth $30,107,000 after purchasing an additional 38,490 shares during the period. Neo Ivy Capital Management bought a new stake in Janux Therapeutics during the 3rd quarter worth about $940,000. Finally, abrdn plc acquired a new position in Janux Therapeutics during the 4th quarter valued at about $3,430,000. 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.