Janux Therapeutics (NASDAQ:JANX) Hits New 1-Year Low Following Analyst Downgrade

Janux Therapeutics, Inc. (NASDAQ:JANX) saw its stock price fall to a new 52-week low on Monday after an analyst downgrade by Scotiabank, which reduced its price target from $62.00 to $41.00. The research firm currently maintains a "sector perform" rating on the stock. During the trading session, Janux Therapeutics reached a low of $31.67 before closing at $31.68, with a total trading volume of 490,205 shares, compared to its previous close of $32.89.

Company Alerts

Several other research analysts have recently weighed in on Janux Therapeutics' stock. BTIG Research raised its price target from $82.00 to $100.00 and placed a "buy" rating on the shares in a report dated December 3rd. On December 6th, Wedbush reiterated an "outperform" rating and set a target price of $76.00, slightly up from its previous target of $75.00. Cantor Fitzgerald issued an "overweight" rating with a price target of $200.00 on December 11th. Additionally, Lifesci Capital upgraded Janux Therapeutics to a "strong-buy" rating in a report released on December 27th. William Blair maintained an "outperform" rating in a report dated January 10th. In total, one analyst has recommended holding the stock, while ten analysts have issued buy ratings, and two have designated it as a strong buy. Data from MarketBeat.com indicates that the average recommendation is a "Buy" with a consensus target price of $88.00.

Insider Trading Activity

In related news, insider Andrew Hollman Meyer sold 3,334 shares of Janux Therapeutics' stock on February 3rd at an average price of $42.29, totaling approximately $140,994.86. After this transaction, he still owns 82,139 shares, valued at about $3,473,658.31, which reflects a 3.90% reduction in his stake. This transaction was detailed in a filing with the Securities & Exchange Commission. CEO David Alan Campbell also sold 25,000 shares on December 24th at an average price of $56.19 for about $1,404,750.00. Post-sale, he directly owns 217,054 shares, which are valued at around $12,196,264.26, down by 10.33%. Altogether, corporate insiders have sold 61,668 shares worth approximately $3,582,515 over the last three months. Notably, corporate insiders collectively own 29.40% of the company’s shares.

Institutional Investors' Activity

Numerous institutional investors and hedge funds have recently adjusted their positions in Janux Therapeutics. Universal Beteiligungs und Servicegesellschaft mbH established a new stake during the fourth quarter, valued at approximately $2,477,000. GF Fund Management CO. LTD. also acquired shares worth about $59,000 in the same quarter. A significant player, UBS AM, raised its position in Janux Therapeutics by 532.7% during the fourth quarter, now owning 165,737 shares worth around $8,874,000 after acquiring an additional 139,543 shares. Woodline Partners LP increased its holdings by 15.7%, owning 1,852,187 shares valued at $99,166,000 after purchasing 251,924 shares last quarter. Finally, Squarepoint Ops LLC expanded its investment by 155.1%, now controlling 41,176 shares worth about $2,205,000. Currently, institutional investors and hedge funds own 75.39% of the company's total stock.

Stock Performance Overview

Janux Therapeutics has a market capitalization of $1.67 billion, with a price-to-earnings ratio of -27.21 and a beta of 3.16. The company's 50-day moving average stands at $43.75, while the 200-day moving average is $47.93.

Recently, Janux Therapeutics reported its quarterly earnings, revealing an earnings per share (EPS) of ($0.36) for the quarter, which exceeded analysts' expectations of ($0.49) by $0.13. The company has a negative net margin of 463.91% and a negative return on equity of 10.47%. Analysts project that Janux Therapeutics, Inc. will report an EPS of -1.38 for the current fiscal year.

About Janux Therapeutics

Janux Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops immunotherapies utilizing Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) to treat cancer patients. Its clinical candidates include JANX007, a prostate-specific membrane antigen (PSMA-TRACTr) in Phase 1 clinical trials for metastatic castration-resistant prostate cancer, and JANX008, an epidermal growth factor receptor (EGFR-TRACTr) currently in Phase 1 clinical trials for various solid tumors, such as colorectal cancer and lung cancer.

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