Avidity Partners Management LP Purchases 179,900 Shares of Janux Therapeutics, Inc. (NASDAQ:JANX)

Avidity Partners Management LP lifted its stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) by 32.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 741,900 shares of the company’s stock after purchasing an additional 179,900 shares during the quarter. Janux Therapeutics accounts for 3.9% of Avidity Partners Management LP’s holdings, making the stock its 3rd biggest holding. Avidity Partners Management LP owned approximately 1.41% of Janux Therapeutics worth $39,721,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Russell Investments Group Ltd. increased its holdings in Janux Therapeutics by 77.7% in the 4th 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 acquired a new stake in shares of Janux Therapeutics during the 4th quarter worth approximately $139,000. Meeder Asset Management Inc. bought a new position in Janux Therapeutics in the fourth quarter valued at approximately $159,000. Tower Research Capital LLC TRC raised its position in Janux Therapeutics by 878.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company’s stock valued at $205,000 after purchasing an additional 3,436 shares in the last quarter. Finally, Chicago Capital LLC bought a new stake in Janux Therapeutics during the fourth quarter worth $230,000. Institutional investors own 75.39% of the company’s stock.

Janux Therapeutics Price Performance

JANX opened at $32.88 on Friday. Janux Therapeutics, Inc. has a fifty-two week low of $22.52 and a fifty-two week high of $71.71. The company’s 50 day moving average price is $29.80 and its two-hundred day moving average price is $42.52. The firm 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 issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate 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 predict that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on JANX shares. Scotiabank lowered their price target on Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Wedbush reissued an “outperform” rating and issued a $76.00 target price (up previously from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a report on Friday, January 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Janux Therapeutics in a research note on Monday, March 3rd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Janux Therapeutics currently has an average rating of “Buy” and a consensus target price of $95.25.

Insider Transactions at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 3,334 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $32.15, for a total transaction of $107,188.10. Following the completion of the sale, the insider now owns 82,139 shares of the company’s stock, valued at $2,640,768.85. This trade represents a 3.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ra Capital Management, L.P. purchased 341,742 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $30.64 per share, for a total transaction of $10,470,974.88. Following the completion of the purchase, the director now owns 9,658,988 shares of the company’s stock, valued at approximately $295,951,392.32. This trade represents a 3.67 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 13,335 shares of company stock worth $454,959 over the last ninety days. 29.40% of the stock is owned by insiders.

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.