Janux Therapeutics (NASDAQ:JANX) Sets New 52-Week Low – Time to Sell?

Janux Therapeutics, Inc. (NASDAQ:JANX)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $13.62 and last traded at $13.80, with a volume of 29533 shares traded. The stock had previously closed at $13.83.

Wall Street Analysts Forecast Growth

JANX has been the subject of a number of analyst reports. Bank of America dropped their price target on shares of Janux Therapeutics from $58.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Stifel Nicolaus dropped their price objective on Janux Therapeutics from $46.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Wolfe Research assumed coverage on Janux Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Wedbush restated an “outperform” rating and issued a $45.00 price target (down previously from $76.00) on shares of Janux Therapeutics in a research report on Tuesday, December 2nd. Finally, HC Wainwright dropped their price target on Janux Therapeutics from $70.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Janux Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $61.08.

Janux Therapeutics Trading Down 0.2%

The firm has a 50-day moving average of $22.73 and a two-hundred day moving average of $23.81. The firm has a market capitalization of $830.07 million, a P/E ratio of -8.21 and a beta of 2.89.

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

Insider Buying and Selling

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 16,665 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $30.06, for a total value of $500,949.90. Following the sale, the insider owned 82,139 shares in the company, valued at $2,469,098.34. This trade represents a 16.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 23,331 shares of company stock valued at $710,862. 8.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in JANX. Osaic Holdings Inc. lifted its stake in shares of Janux Therapeutics by 704.6% in the 2nd quarter. Osaic Holdings Inc. now owns 3,468 shares of the company’s stock valued at $80,000 after purchasing an additional 3,037 shares during the period. Virtus Investment Advisers LLC increased its holdings in Janux Therapeutics by 37.9% in the second quarter. Virtus Investment Advisers LLC now owns 3,679 shares of the company’s stock worth $85,000 after purchasing an additional 1,011 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Janux Therapeutics by 175.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,928 shares of the company’s stock valued at $91,000 after buying an additional 2,502 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Janux Therapeutics by 25.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,020 shares of the company’s stock worth $93,000 after buying an additional 820 shares in the last quarter. Finally, Winthrop Capital Management LLC acquired a new stake in shares of Janux Therapeutics during the 3rd quarter worth approximately $106,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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.