Janux Therapeutics (NASDAQ:JANX) Stock Price Down 4.2% - Here's Why

Shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Get Free Report) fell 4.2% during trading on Tuesday . The stock traded as low as $24.20 and last traded at $24.16. 421,020 shares changed hands during trading, a decline of 52% from the average session volume of 872,643 shares. The stock had previously closed at $25.22.

Analyst Ratings Changes

Several brokerages have recently commented on JANX. Wedbush reaffirmed an "outperform" rating and set a $76.00 price target (up previously from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. HC Wainwright reissued a "buy" rating and issued a $70.00 target price on shares of Janux Therapeutics in a report on Monday, March 3rd. Finally, Scotiabank cut their target price on shares of 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 equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Janux Therapeutics presently has a consensus rating of "Buy" and an average target price of $95.25.

Janux Therapeutics Stock Down 1.4%

The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -20.26 and a beta of 3.24. The stock's 50 day moving average is $27.37 and its 200 day moving average is $38.58.

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 (EPS) for the quarter, topping the consensus estimate 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%. Analysts anticipate that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Andrew Hollman Meyer sold 3,333 shares of the firm'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 completion of the transaction, the insider now owns 82,139 shares of the company's stock, valued at approximately $2,630,912.17. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ra Capital Management, L.P. acquired 341,742 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $30.64 per share, with a total value of $10,470,974.88. Following the purchase, the director now directly owns 9,658,988 shares in the company, valued at approximately $295,951,392.32. This trade represents a 3.67% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 10,001 shares of company stock worth $313,964. 8.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Janux Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JANX. GAMMA Investing LLC boosted its stake in Janux Therapeutics by 1,574.0% in the 1st quarter. GAMMA Investing LLC now owns 1,674 shares of the company's stock worth $45,000 after purchasing an additional 1,574 shares during the period. US Bancorp DE boosted its stake in Janux Therapeutics by 2,402.9% in the 1st quarter. US Bancorp DE now owns 1,727 shares of the company's stock worth $47,000 after purchasing an additional 1,658 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Janux Therapeutics by 77.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock valued at $54,000 after buying an additional 442 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Janux Therapeutics during the 4th quarter valued at $59,000. Finally, FNY Investment Advisers LLC boosted its stake in shares of Janux Therapeutics by 6,928.6% during the 1st quarter. FNY Investment Advisers LLC now owns 2,460 shares of the company's stock valued at $66,000 after buying an additional 2,425 shares during the period. Institutional investors and hedge funds 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.