Janux Therapeutics (NASDAQ:JANX) Hits New 1-Year Low – Here’s What Happened

Janux Therapeutics, Inc. (NASDAQ:JANX) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $13.28 and last traded at $13.75, with a volume of 2168574 shares changing hands. The stock had previously closed at $13.65.

Wall Street Analysts Forecast Growth

JANX has been the topic of a number of research reports. Cantor Fitzgerald cut their price objective on shares of Janux Therapeutics from $200.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. HC Wainwright cut their price target on shares of Janux Therapeutics from $70.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Janux Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Truist Financial assumed coverage on Janux Therapeutics in a report on Wednesday, September 10th. They set a “buy” rating and a $100.00 price target for the company. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.08.

Janux Therapeutics Stock Performance

The stock has a market capitalization of $840.90 million, a price-to-earnings ratio of -8.32 and a beta of 2.88. The business has a fifty day simple moving average of $21.63 and a 200 day simple moving average of $23.56.

Janux Therapeutics (NASDAQ:JANX) last announced its earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.21. The business had revenue of $10.00 million during the quarter, compared to the consensus estimate of $3.07 million. On average, sell-side analysts forecast that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Charles M. Winter sold 2,401 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $13.73, for a total transaction of $32,965.73. Following the sale, the insider owned 77,721 shares of the company’s stock, valued at $1,067,109.33. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Zachariah Mciver sold 2,714 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $13.73, for a total value of $37,263.22. Following the transaction, the insider owned 23,286 shares in the company, valued at approximately $319,716.78. This trade represents a 10.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 42,364 shares of company stock worth $972,185. Insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of JANX. Orbimed Advisors LLC boosted its position in Janux Therapeutics by 45.9% during the 3rd quarter. Orbimed Advisors LLC now owns 1,766,100 shares of the company’s stock worth $43,163,000 after buying an additional 555,800 shares during the period. Readystate Asset Management LP raised its stake in shares of Janux Therapeutics by 38.0% during the third quarter. Readystate Asset Management LP now owns 960,379 shares of the company’s stock valued at $23,472,000 after acquiring an additional 264,423 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Janux Therapeutics by 10.4% in the third quarter. Vanguard Group Inc. now owns 2,417,104 shares of the company’s stock worth $59,074,000 after purchasing an additional 227,676 shares during the last quarter. Wellington Management Group LLP increased its holdings in Janux Therapeutics by 42.5% in the third quarter. Wellington Management Group LLP now owns 701,604 shares of the company’s stock valued at $17,147,000 after purchasing an additional 209,243 shares during the period. Finally, Alyeska Investment Group L.P. increased its holdings in Janux Therapeutics by 64.2% in the third quarter. Alyeska Investment Group L.P. now owns 424,845 shares of the company’s stock valued at $10,383,000 after purchasing an additional 166,167 shares during the period. Institutional investors own 75.39% of the company’s stock.

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.