Janux Therapeutics (NASDAQ:JANX) Sets New 52-Week Low on Analyst Downgrade

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price hit a new 52-week low on Monday after Scotiabank lowered their price target on the stock from $62.00 to $41.00. Scotiabank currently has a sector perform rating on the stock. Janux Therapeutics traded as low as $31.67 and last traded at $31.68, with a volume of 490205 shares traded. The stock had previously closed at $32.89.

A number of other equities analysts have also issued reports on JANX. BTIG Research raised their price target on Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Stifel Nicolaus lifted their target price on Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Wedbush restated an “outperform” rating and set a $76.00 price target (up previously from $75.00) on shares of Janux Therapeutics in a research note on Friday. HC Wainwright lifted their price objective on shares of Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, William Blair restated an “outperform” rating on shares of Janux Therapeutics in a research report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $88.00.

Insider Buying and Selling

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 13,334 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $54.88, for a total value of $731,769.92. Following the sale, the insider now owns 82,139 shares of the company’s stock, valued at approximately $4,507,788.32. This represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Alan Campbell sold 25,000 shares of Janux Therapeutics stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $56.19, for a total value of $1,404,750.00. Following the transaction, the chief executive officer now directly owns 217,054 shares of the company’s stock, valued at $12,196,264.26. This trade represents a 10.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,668 shares of company stock valued at $2,577,515. Corporate insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

Several hedge funds have recently added to or reduced their stakes in JANX. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after purchasing an additional 339 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Janux Therapeutics by 639.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 20,343 shares of the company’s stock valued at $924,000 after buying an additional 17,592 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in Janux Therapeutics during the 3rd quarter valued at $239,000. Victory Capital Management Inc. increased its position in Janux Therapeutics by 143.4% during the third quarter. Victory Capital Management Inc. now owns 29,745 shares of the company’s stock worth $1,351,000 after buying an additional 17,525 shares in the last quarter. Finally, Plato Investment Management Ltd raised its holdings in shares of Janux Therapeutics by 18.7% in the third quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock worth $54,000 after acquiring an additional 187 shares during the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

Janux Therapeutics Price Performance

The firm has a market capitalization of $1.67 billion, a PE ratio of -27.20 and a beta of 3.16. The company has a 50-day moving average price of $43.25 and a 200-day moving average price of $47.86.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. On average, research analysts predict that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Janux Therapeutics Company Profile

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.