Janux Therapeutics (NASDAQ:JANX) Shares Gap Down on Insider Selling

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $32.88, but opened at $30.00. Janux Therapeutics shares last traded at $30.73, with a volume of 453,943 shares changing hands.

Specifically, insider Andrew Hollman Meyer sold 3,333 shares of Janux Therapeutics stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $32.03, for a total transaction of $106,755.99. Following the completion of the sale, the insider now owns 82,139 shares of the company's stock, valued at $2,630,912.17. The trade was a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wedbush restated an "outperform" rating and issued a $76.00 target price (up previously 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 objective on shares of Janux Therapeutics in a research note on Monday, March 3rd. Scotiabank lowered their price target on shares of Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Finally, William Blair reaffirmed an "outperform" rating on shares of Janux Therapeutics in a research note on Friday, January 10th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $95.25.

Janux Therapeutics Stock Performance

The business has a 50-day simple moving average of $29.47 and a 200 day simple moving average of $42.10. The firm has a market cap of $1.52 billion, a P/E ratio of -21.97 and a beta of 3.24.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.36) EPS for the quarter, topping 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, research analysts expect that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Hedge Funds Weigh In On Janux Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of Janux Therapeutics by 1,574.0% in the 1st quarter. GAMMA Investing LLC now owns 1,674 shares of the company's stock worth $45,000 after acquiring an additional 1,574 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Janux Therapeutics by 77.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock valued at $54,000 after buying an additional 442 shares during the period. GF Fund Management CO. LTD. purchased a new position in Janux Therapeutics during the fourth quarter valued at $59,000. FNY Investment Advisers LLC boosted its holdings in shares of Janux Therapeutics by 6,928.6% during the 1st quarter. FNY Investment Advisers LLC now owns 2,460 shares of the company's stock valued at $66,000 after buying an additional 2,425 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Janux Therapeutics in the 1st quarter worth about $66,000. 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.