Janux Therapeutics (NASDAQ:JANX) Trading Down 3.6% - Here's What Happened

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

Analysts Set New Price Targets

A number of analysts have recently commented on JANX shares. Wedbush reiterated 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. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 target price on shares of Janux Therapeutics in a research report on Monday, March 3rd. Finally, Scotiabank lowered their price target on Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $95.25.

Janux Therapeutics Stock Down 3.0%

The firm has a market capitalization of $1.36 billion, a PE ratio of -19.58 and a beta of 2.96. The stock's fifty day simple moving average is $27.02 and its 200 day simple moving average is $36.76.

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, beating analysts' consensus estimates of ($0.43) by $0.05. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. On average, analysts predict that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Insider Transactions at Janux Therapeutics

In other news, insider Andrew Hollman Meyer sold 3,333 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $32.03, for a total transaction of $106,755.99. Following the sale, the insider now directly owns 82,139 shares in the company, valued at $2,630,912.17. This trade represents a 3.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.10% of the company's stock.

Institutional Trading of Janux Therapeutics

Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its holdings in shares of Janux Therapeutics by 1.6% in the fourth quarter. Rhumbline Advisers now owns 38,153 shares of the company's stock worth $2,043,000 after buying an additional 599 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Janux Therapeutics by 84.6% during the fourth quarter. New York State Common Retirement Fund now owns 15,964 shares of the company's stock valued at $855,000 after buying an additional 7,318 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Janux Therapeutics during the fourth quarter valued at approximately $642,000. HealthInvest Partners AB purchased a new position in Janux Therapeutics during the 4th quarter valued at approximately $2,078,000. Finally, Proficio Capital Partners LLC bought a new stake in Janux Therapeutics in the 4th quarter worth approximately $1,353,000. Hedge funds and other institutional investors own 75.39% of the company's stock.

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.