Janux Therapeutics (NASDAQ:JANX) Shares Down 4%

Janux Therapeutics, Inc. (NASDAQ:JANX) shares dropped 4% during mid-day trading on Wednesday . The company traded as low as $39.45 and last traded at $39.83. Approximately 131,765 shares changed hands during trading, a decline of 83% from the average daily volume of 792,525 shares. The stock had previously closed at $41.47.

Analysts Set New Price Targets

Several research firms have recently commented on JANX. HC Wainwright increased their price target on shares of Janux Therapeutics from $50.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Jonestrading assumed coverage on Janux Therapeutics in a research report on Tuesday, April 16th. They issued a “buy” rating and a $70.00 price objective on the stock. Wedbush increased their price objective on Janux Therapeutics from $53.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Scotiabank initiated coverage on shares of Janux Therapeutics in a report on Thursday, May 30th. They issued a “sector perform” rating and a $47.00 target price on the stock. Finally, Bank of America boosted their price objective on shares of Janux Therapeutics from $24.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Janux Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $66.29.

Janux Therapeutics Stock Up 1.4 %

The stock has a 50 day moving average of $47.93 and a 200 day moving average of $31.62.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The business had revenue of $1.25 million during the quarter, compared to the consensus estimate of $0.98 million. Janux Therapeutics had a negative return on equity of 13.49% and a negative net margin of 762.92%. Analysts anticipate that Janux Therapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jay Lichter sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $82,125,000.00. Following the sale, the director now owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Janux Therapeutics news, CFO Tighe Reardon sold 822,721 shares of Janux Therapeutics stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total transaction of $45,043,974.75. Following the sale, the chief financial officer now owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay Lichter sold 1,500,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $54.75, for a total value of $82,125,000.00. Following the completion of the transaction, the director now directly owns 633,673 shares of the company’s stock, valued at approximately $34,693,596.75. The disclosure for this sale can be found here. Insiders have sold a total of 3,000,000 shares of company stock worth $164,250,000 over the last quarter. 35.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of Janux Therapeutics by 227.1% in the third quarter. Barclays PLC now owns 17,922 shares of the company’s stock valued at $181,000 after acquiring an additional 12,443 shares in the last quarter. FMR LLC boosted its stake in Janux Therapeutics by 25.5% during the third quarter. FMR LLC now owns 6,351,322 shares of the company’s stock valued at $64,021,000 after buying an additional 1,288,526 shares in the last quarter. Corton Capital Inc. acquired a new position in Janux Therapeutics during the third quarter worth about $111,000. Adage Capital Partners GP L.L.C. lifted its holdings in Janux Therapeutics by 27.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock valued at $11,592,000 after acquiring an additional 250,000 shares during the last quarter. Finally, RA Capital Management L.P. boosted its position in shares of Janux Therapeutics by 5.7% during the 3rd quarter. RA Capital Management L.P. now owns 9,165,652 shares of the company’s stock valued at $92,390,000 after purchasing an additional 495,008 shares in the last quarter. 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.