Janux Therapeutics (NASDAQ:JANX) Sets New 12-Month Low – What’s Next?

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

Wall Street Analyst Weigh In

JANX has been the topic of a number of recent analyst reports. HC Wainwright cut their price target on shares of Janux Therapeutics from $70.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, December 2nd. Bank of America lowered their price objective on shares of Janux Therapeutics from $58.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Stifel Nicolaus reduced their target price on Janux Therapeutics from $46.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Cantor Fitzgerald decreased their target price on Janux Therapeutics from $200.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Janux Therapeutics in a report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Janux Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.08.

Janux Therapeutics Stock Performance

The stock has a market cap of $827.06 million, a price-to-earnings ratio of -8.18 and a beta of 2.88. The company’s 50 day simple moving average is $22.23 and its two-hundred day simple moving average is $23.69.

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

Insider Activity at Janux Therapeutics

In related news, insider Thomas Diraimondo sold 2,505 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $13.73, for a total transaction of $34,393.65. Following the transaction, the insider owned 124,425 shares of the company’s stock, valued at approximately $1,708,355.25. This trade represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Alan Campbell sold 8,072 shares of Janux Therapeutics stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $13.73, for a total transaction of $110,828.56. Following the completion of the sale, the chief executive officer owned 284,982 shares of the company’s stock, valued at $3,912,802.86. This trade represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 42,364 shares of company stock worth $972,185. 29.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in 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 in the last quarter. Orbimed Advisors LLC lifted its position in shares of Janux Therapeutics by 45.9% in the third 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 last quarter. Readystate Asset Management LP lifted its position in shares of Janux Therapeutics by 38.0% in the third quarter. Readystate Asset Management LP now owns 960,379 shares of the company’s stock worth $23,472,000 after buying an additional 264,423 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Janux Therapeutics by 15.5% during the 2nd quarter. Geode Capital Management LLC now owns 902,312 shares of the company’s stock worth $20,845,000 after acquiring an additional 121,403 shares in the last quarter. Finally, Prosight Management LP increased its holdings in shares of Janux Therapeutics by 1.3% during the 3rd quarter. Prosight Management LP now owns 865,350 shares of the company’s stock valued at $21,149,000 after acquiring an additional 11,446 shares during the last quarter. Institutional investors and hedge funds own 75.39% of the company’s stock.

Janux Therapeutics Company Profile

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.