Janux Therapeutics (NASDAQ:JANX) Shares Gap Down – Should You Sell?

Janux Therapeutics, Inc. (NASDAQ:JANX) shares gapped down prior to trading on Monday . The stock had previously closed at $14.81, but opened at $14.33. Janux Therapeutics shares last traded at $14.5110, with a volume of 226,221 shares traded.

Analyst Ratings Changes

JANX has been the subject of a number of analyst reports. Wall Street Zen raised shares of Janux Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Thursday, January 22nd. UBS Group reissued a “buy” rating and set a $57.00 target price on shares of Janux Therapeutics in a research report on Tuesday, December 2nd. Piper Sandler lowered their price target on Janux Therapeutics from $42.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, January 16th. Finally, Barclays dropped their price objective on shares of Janux Therapeutics from $48.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.08.

Janux Therapeutics Trading Down 5.3%

The firm’s 50-day simple moving average is $17.40 and its two-hundred day simple moving average is $22.51. The company has a market cap of $839.09 million, a PE ratio of -8.30 and a beta of 2.88.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.21. The business had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $3.07 million. As a group, analysts predict that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Insider Buying and Selling at Janux Therapeutics

In other news, insider Charles M. Winter sold 2,401 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $13.73, for a total value of $32,965.73. Following the transaction, the insider owned 77,721 shares in the company, valued at $1,067,109.33. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas Diraimondo sold 2,505 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $13.73, for a total transaction of $34,393.65. Following the completion of the transaction, the insider directly owned 124,425 shares in the company, valued at approximately $1,708,355.25. This represents a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 25,699 shares of company stock worth $471,235. 29.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Janux Therapeutics

A number of large investors have recently modified their holdings of the company. Squarepoint Ops LLC increased its stake in Janux Therapeutics by 230.0% during the second quarter. Squarepoint Ops LLC now owns 189,569 shares of the company’s stock valued at $4,379,000 after purchasing an additional 132,121 shares during the last quarter. Quinn Opportunity Partners LLC grew its stake in shares of Janux Therapeutics by 15.4% in the second quarter. Quinn Opportunity Partners LLC now owns 59,893 shares of the company’s stock worth $1,384,000 after purchasing an additional 8,000 shares in the last quarter. Geode Capital Management LLC grew its position in Janux Therapeutics by 15.5% in the 2nd quarter. Geode Capital Management LLC now owns 902,312 shares of the company’s stock valued at $20,845,000 after buying an additional 121,403 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Janux Therapeutics by 3,658.9% during the second quarter. AlphaQuest LLC now owns 9,698 shares of the company’s stock valued at $224,000 after acquiring an additional 9,440 shares during the period. Finally, Capital Fund Management S.A. bought a new position in Janux Therapeutics during the second quarter valued at about $757,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

About Janux Therapeutics

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.