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

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

Analyst Upgrades and Downgrades

Separately, Raymond James Financial assumed coverage on shares of Janux Therapeutics in a research note on Friday, July 11th. They set an "outperform" rating and a $65.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Janux Therapeutics has a consensus rating of "Buy" and an average price target of $91.89.

Janux Therapeutics Stock Up 1.4%

The company's 50-day moving average price is $24.62 and its 200-day moving average price is $31.14. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -19.45 and a beta of 2.86.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings results 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. Analysts predict that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Andrew Hollman Meyer sold 3,333 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $32.03, for a total value of $106,755.99. Following the sale, the insider directly owned 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 29.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

A number of large investors have recently modified their holdings of JANX. Atle Fund Management AB raised its position 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 during the last quarter. Rhumbline Advisers lifted its position in shares of Janux Therapeutics by 11.8% during the first quarter. Rhumbline Advisers now owns 42,650 shares of the company's stock worth $1,152,000 after purchasing an additional 4,497 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Janux Therapeutics by 12.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,394 shares of the company's stock worth $5,033,000 after buying an additional 20,657 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Janux Therapeutics by 18.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,403 shares of the company's stock valued at $583,000 after purchasing an additional 3,393 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Janux Therapeutics by 71.7% during the first quarter. AQR Capital Management LLC now owns 9,717 shares of the company's stock valued at $262,000 after purchasing an additional 4,059 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.