Janux Therapeutics (NASDAQ:JANX) Stock Price Down 3.8% - Time to Sell?

Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) shares were down 3.8% during trading on Friday . The company traded as low as $26.62 and last traded at $26.69. Approximately 159,702 shares were traded during trading, a decline of 82% from the average daily volume of 872,460 shares. The stock had previously closed at $27.75.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial assumed coverage on Janux Therapeutics in a report on Friday, July 11th. They set an "outperform" rating and a $65.00 price objective for the company. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $91.89.

Janux Therapeutics Stock Performance

The company has a 50-day simple moving average of $24.62 and a two-hundred day simple moving average of $31.14. The firm has a market capitalization of $1.56 billion, a P/E ratio of -19.41 and a beta of 2.86.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.38) earnings per share for the quarter, topping analysts' consensus estimates of ($0.43) by $0.05. As a group, research analysts forecast that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 3,333 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $32.03, for a total value of $106,755.99. Following the completion of the transaction, the insider owned 82,139 shares in the company, valued at approximately $2,630,912.17. This represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 29.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Janux Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Atle Fund Management AB lifted its holdings in Janux Therapeutics by 6.4% during the 2nd quarter. Atle Fund Management AB now owns 49,820 shares of the company's stock worth $1,151,000 after buying an additional 3,012 shares in the last quarter. Rhumbline Advisers grew its position in shares of Janux Therapeutics by 11.8% in the 1st quarter. Rhumbline Advisers now owns 42,650 shares of the company's stock valued at $1,152,000 after buying an additional 4,497 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Janux Therapeutics by 12.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,394 shares of the company's stock valued at $5,033,000 after buying an additional 20,657 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Janux Therapeutics by 18.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,403 shares of the company's stock worth $583,000 after purchasing an additional 3,393 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Janux Therapeutics by 71.7% during the 1st quarter. AQR Capital Management LLC now owns 9,717 shares of the company's stock worth $262,000 after purchasing an additional 4,059 shares during the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.