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

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) dropped 3.6% during trading on Monday . The stock traded as low as $24.15 and last traded at $24.01. Approximately 196,270 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 868,140 shares. The stock had previously closed at $24.90.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on JANX shares. HC Wainwright restated a "buy" rating and issued a $70.00 price objective on shares of Janux Therapeutics in a research report on Monday, March 3rd. Scotiabank reduced their price target on Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Finally, Wedbush restated an "outperform" rating and issued a $76.00 price target (up from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $95.25.

Janux Therapeutics Stock Performance

The stock's 50-day moving average price is $26.77 and its 200-day moving average price is $36.44. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -16.71 and a beta of 2.96.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.05. Janux Therapeutics had a negative return on equity of 9.29% and a negative net margin of 463.91%. Analysts anticipate that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Activity

In other news, insider Andrew Hollman Meyer sold 3,334 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $30.00, for a total value of $100,020.00. Following the sale, the insider now directly owns 82,139 shares in the company, valued at $2,464,170. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of JANX. RA Capital Management L.P. increased its position in Janux Therapeutics by 13.1% during the 4th quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company's stock worth $554,977,000 after purchasing an additional 1,200,000 shares in the last quarter. Paradigm Biocapital Advisors LP grew its holdings in shares of Janux Therapeutics by 46.5% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company's stock worth $188,246,000 after buying an additional 1,115,412 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of 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 buying an additional 1,038,996 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Janux Therapeutics by 47.6% during 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 during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Janux Therapeutics by 596.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,109,978 shares of the company's stock worth $59,429,000 after acquiring an additional 950,557 shares during the last quarter. Hedge funds and other institutional investors own 75.39% of the company's stock.

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.