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

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) gapped down before the market opened 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 traded.

Specifically, insider Andrew Hollman Meyer sold 3,333 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $32.03, for a total value of $106,755.99. Following the completion of the sale, the insider now directly owns 82,139 shares of the company's stock, valued at approximately $2,630,912.17. The trade was a 3.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

JANX has been the subject of several research analyst reports. Wedbush reissued an "outperform" rating and issued a $76.00 price objective (up from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. William Blair reaffirmed an "outperform" rating on shares of Janux Therapeutics in a research note on Friday, January 10th. HC Wainwright reiterated a "buy" rating and issued a $70.00 target price on shares of Janux Therapeutics in a research note on Monday, March 3rd. Finally, Scotiabank cut their price target on 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. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $95.25.

Janux Therapeutics Price Performance

The company has a 50-day simple moving average of $29.27 and a 200-day simple moving average of $41.74. The stock has a market cap of $1.51 billion, a PE ratio of -21.85 and a beta of 3.24.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.42) by $0.04. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. On average, equities analysts expect that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JANX. RA Capital Management L.P. grew its holdings in shares of Janux Therapeutics by 13.1% in the 4th quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company's stock worth $554,977,000 after acquiring an additional 1,200,000 shares during the period. Paradigm Biocapital Advisors LP grew its holdings in Janux Therapeutics by 46.5% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company's stock valued at $188,246,000 after purchasing an additional 1,115,412 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Janux Therapeutics by 41.2% in the fourth quarter. Janus Henderson Group PLC now owns 3,562,402 shares of the company's stock valued at $190,617,000 after purchasing an additional 1,038,996 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Janux Therapeutics by 47.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company's stock valued at $163,926,000 after buying an additional 986,750 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Janux Therapeutics by 596.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,109,978 shares of the company's stock worth $59,429,000 after buying an additional 950,557 shares during the last quarter. 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.