Janux Therapeutics (NASDAQ:JANX) Stock Price Down 11.7% – Time to Sell?

Janux Therapeutics, Inc. (NASDAQ:JANX) shares traded down 11.7% during trading on Friday . The stock traded as low as $25.30 and last traded at $25.30. 539,234 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 933,680 shares. The stock had previously closed at $28.66.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on JANX shares. Truist Financial started coverage on shares of Janux Therapeutics in a research report on Wednesday, September 10th. They set a “buy” rating and a $100.00 target price for the company. Raymond James Financial assumed coverage on Janux Therapeutics in a research report on Friday, July 11th. They issued an “outperform” rating and a $65.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price target on shares of Janux Therapeutics in a report on Wednesday, September 10th. Guggenheim started coverage on shares of Janux Therapeutics in a research note on Wednesday, September 3rd. They issued a “buy” rating and a $72.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.17.

Janux Therapeutics Price Performance

The firm has a market cap of $1.58 billion, a P/E ratio of -14.48 and a beta of 2.83. The stock’s 50 day moving average is $25.03 and its two-hundred day moving average is $25.29.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.21. The company had revenue of $10.00 million during the quarter, compared to the consensus estimate of $3.07 million. As a group, research analysts forecast that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Insider Activity

In other news, insider Andrew Hollman Meyer sold 16,665 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $30.06, for a total value of $500,949.90. Following the sale, the insider owned 82,139 shares in the company, valued at approximately $2,469,098.34. The trade was a 16.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors have recently added to or reduced their stakes in JANX. RA Capital Management L.P. grew its stake in Janux Therapeutics by 7.9% during the first quarter. RA Capital Management L.P. now owns 11,189,693 shares of the company’s stock worth $302,122,000 after buying an additional 824,041 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Janux Therapeutics by 19.4% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 3,654,574 shares of the company’s stock worth $98,673,000 after acquiring an additional 592,824 shares in the last quarter. Orbimed Advisors LLC boosted its holdings in shares of Janux Therapeutics by 59.6% in the 2nd quarter. Orbimed Advisors LLC now owns 1,210,300 shares of the company’s stock worth $27,958,000 after acquiring an additional 451,734 shares in the last quarter. First Light Asset Management LLC grew its position in Janux Therapeutics by 110.0% during the 1st quarter. First Light Asset Management LLC now owns 658,824 shares of the company’s stock worth $17,788,000 after acquiring an additional 345,042 shares during the last quarter. Finally, MPM Bioimpact LLC increased its holdings in Janux Therapeutics by 146.6% during the 1st quarter. MPM Bioimpact LLC now owns 567,193 shares of the company’s stock valued at $15,314,000 after purchasing an additional 337,193 shares in the last quarter. 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.