Janux Therapeutics (NASDAQ:JANX) Stock Price Down 3.6% – Time to Sell?

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX) fell 3.6% on Wednesday . The company traded as low as $50.47 and last traded at $50.82. 102,613 shares were traded during mid-day trading, a decline of 86% from the average session volume of 710,869 shares. The stock had previously closed at $52.74.

Analyst Ratings Changes

Several analysts have commented on JANX shares. Stifel Nicolaus began coverage on shares of Janux Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $70.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price target on shares of Janux Therapeutics in a research report on Monday, September 16th. HC Wainwright reiterated a “buy” rating and issued a $63.00 price objective on shares of Janux Therapeutics in a report on Monday, August 19th. Wedbush reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a research report on Thursday, August 8th. Finally, Scotiabank decreased their price target on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.13.

Janux Therapeutics Trading Down 1.7 %

The firm has a market capitalization of $2.69 billion, a P/E ratio of -43.23 and a beta of 3.54. The business’s 50 day simple moving average is $44.98 and its two-hundred day simple moving average is $45.24.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.20. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The firm had revenue of $8.90 million during the quarter, compared to analysts’ expectations of $0.77 million. The company’s quarterly revenue was up 709.1% compared to the same quarter last year. Analysts predict that Janux Therapeutics, Inc. will post -1.18 EPS for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In other news, major shareholder Ventures Xi L.P. Avalon sold 158,031 shares of Janux Therapeutics stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $47.00, for a total value of $7,427,457.00. Following the completion of the sale, the insider now directly owns 2,959,175 shares in the company, valued at $139,081,225. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Janux Therapeutics news, major shareholder Ventures Xi L.P. Avalon sold 158,031 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.00, for a total value of $7,427,457.00. Following the transaction, the insider now owns 2,959,175 shares of the company’s stock, valued at approximately $139,081,225. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $46.31, for a total value of $1,157,750.00. Following the completion of the transaction, the chief executive officer now directly owns 307,054 shares in the company, valued at $14,219,670.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 393,767 shares of company stock worth $17,857,979. Company insiders own 35.40% of the company’s stock.

Institutional Trading of Janux Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JANX. Summit Securities Group LLC bought a new stake in shares of Janux Therapeutics during the 2nd quarter valued at $29,000. Amalgamated Bank grew its holdings in Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after purchasing an additional 368 shares during the period. Plato Investment Management Ltd purchased a new stake in Janux Therapeutics in the second quarter worth about $42,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Janux Therapeutics in the second quarter worth about $151,000. Finally, AQR Capital Management LLC bought a new stake in Janux Therapeutics during the 2nd quarter worth approximately $215,000. 75.39% of the stock is owned by hedge funds and other 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.