Janux Therapeutics, Inc. (NASDAQ:JANX) Holdings Lifted by Avidity Partners Management LP

Avidity Partners Management LP lifted its holdings in Janux Therapeutics, Inc. (NASDAQ:JANX) by 32.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 741,900 shares of the company’s stock after buying an additional 179,900 shares during the period. Janux Therapeutics makes up approximately 3.9% of Avidity Partners Management LP’s portfolio, making the stock its 3rd biggest holding. Avidity Partners Management LP’s holdings in Janux Therapeutics were worth $39,721,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. grew its position in Janux Therapeutics by 77.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock valued at $54,000 after buying an additional 442 shares during the period. Avanza Fonder AB purchased a new stake in shares of Janux Therapeutics during the 4th quarter worth approximately $139,000. Meeder Asset Management Inc. purchased a new stake in Janux Therapeutics in the fourth quarter worth $159,000. Tower Research Capital LLC TRC raised its stake in shares of Janux Therapeutics by 878.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company’s stock valued at $205,000 after buying an additional 3,436 shares during the period. Finally, Chicago Capital LLC bought a new position in Janux Therapeutics during the fourth quarter worth about $230,000. 75.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on JANX shares. HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Janux Therapeutics in a research note on Monday, March 3rd. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a report on Friday, January 10th. Wedbush restated an “outperform” rating and issued a $76.00 target price (up from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. Finally, Scotiabank decreased 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 report on Friday, February 28th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Janux Therapeutics presently has an average rating of “Buy” and a consensus price target of $95.25.

Insider Transactions at Janux Therapeutics

In other news, Director Ra Capital Management, L.P. acquired 341,742 shares of the stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $30.64 per share, with a total value of $10,470,974.88. Following the completion of the transaction, the director now owns 9,658,988 shares of the company’s stock, valued at $295,951,392.32. This represents a 3.67 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Hollman Meyer sold 3,333 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $32.03, for a total value of $106,755.99. Following the completion of the sale, the insider now directly owns 82,139 shares in the company, valued at approximately $2,630,912.17. This represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,335 shares of company stock worth $454,959. 29.40% of the stock is currently owned by insiders.

Janux Therapeutics Stock Performance

Shares of Janux Therapeutics stock opened at $32.88 on Friday. The company’s 50 day moving average price is $29.80 and its 200-day moving average price is $42.52. Janux Therapeutics, Inc. has a 52-week low of $22.52 and a 52-week high of $71.71. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -28.10 and a beta of 3.27.

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, beating analysts’ consensus estimates of ($0.49) by $0.13. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. As a group, equities research analysts forecast that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Janux Therapeutics Profile

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.