Janux Therapeutics (NASDAQ:JANX) Reaches New 12-Month Low – Here’s What Happened

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $26.03 and last traded at $28.25, with a volume of 713126 shares trading hands. The stock had previously closed at $26.81.

Analyst Ratings Changes

JANX has been the subject of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of Janux Therapeutics in a research note on Wednesday, December 11th. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research note on Friday, January 10th. Wedbush reaffirmed an “outperform” rating and set a $76.00 price objective (up from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Janux Therapeutics in a report on Monday, March 3rd. Finally, Scotiabank lowered their price target on shares of Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $92.44.

Janux Therapeutics Price Performance

The firm’s 50-day moving average price is $34.09 and its 200-day moving average price is $45.29. The stock has a market cap of $1.52 billion, a P/E ratio of -22.03 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) 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%. Sell-side analysts expect that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Buying and Selling

In other Janux Therapeutics news, Director Ra Capital Management, L.P. purchased 110,206 shares of Janux Therapeutics stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $31.02 per share, for a total transaction of $3,418,590.12. Following the completion of the transaction, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 transaction, the insider now owns 82,139 shares of the company’s stock, valued at $2,640,768.85. This trade represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,668 shares of company stock worth $548,183. Corporate insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Janux Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its holdings in shares of Janux Therapeutics by 77.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock worth $54,000 after purchasing an additional 442 shares during the period. GF Fund Management CO. LTD. bought a new stake in Janux Therapeutics in the fourth quarter worth $59,000. Avanza Fonder AB purchased a new position in Janux Therapeutics during the fourth quarter worth $139,000. Meeder Asset Management Inc. bought a new position in Janux Therapeutics during the fourth quarter valued at $159,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Janux Therapeutics by 878.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company’s stock valued at $205,000 after acquiring an additional 3,436 shares during the period. 75.39% of the stock is owned by institutional investors.

About Janux Therapeutics

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.