Janux Therapeutics (NASDAQ:JANX) Hits New 52-Week Low – Here’s Why

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $26.03 and last traded at $28.25, with a volume of 713126 shares traded. The stock had previously closed at $26.81.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on JANX shares. HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Janux Therapeutics in a research report on Monday, March 3rd. Scotiabank reduced their price objective on shares of Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a research report on Friday, January 10th. Lifesci Capital raised Janux Therapeutics to a “strong-buy” rating in a research report on Friday, December 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of Janux Therapeutics in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $92.44.

Janux Therapeutics Trading Up 5.4 %

The business has a fifty day simple moving average of $34.81 and a two-hundred day simple moving average of $45.59. The company has a market cap of $1.67 billion, a PE ratio of -24.15 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data 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 return on equity of 10.47% and a negative net margin of 463.91%. Equities analysts expect that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ra Capital Management, L.P. acquired 341,742 shares of Janux Therapeutics stock in a transaction dated Wednesday, March 5th. The stock was acquired 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 $295,951,392.32. The trade was a 3.67 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Alan Campbell sold 5,000 shares of Janux Therapeutics stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the sale, the chief executive officer now owns 293,054 shares of the company’s stock, valued at approximately $17,583,240. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,668 shares of company stock valued at $548,183 in the last quarter. 29.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in Janux Therapeutics by 77.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock worth $54,000 after purchasing an additional 442 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Janux Therapeutics during the 4th quarter worth approximately $59,000. Avanza Fonder AB acquired a new stake in Janux Therapeutics during the fourth quarter worth approximately $139,000. Meeder Asset Management Inc. acquired a new position in shares of Janux Therapeutics in the fourth quarter valued at about $159,000. Finally, Tower Research Capital LLC TRC increased its stake in Janux Therapeutics by 878.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company’s stock worth $205,000 after acquiring an additional 3,436 shares during the period. 75.39% of the stock is owned by institutional investors.

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.