Adage Capital Partners GP L.L.C. Buys 986,750 Shares of Janux Therapeutics, Inc. (NASDAQ:JANX)

Adage Capital Partners GP L.L.C. grew its stake in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 47.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,061,750 shares of the company's stock after purchasing an additional 986,750 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 5.83% of Janux Therapeutics worth $163,926,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of JANX. Russell Investments Group Ltd. boosted its holdings in shares of Janux Therapeutics by 77.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock worth $54,000 after acquiring an additional 442 shares during the period. Rhumbline Advisers lifted its holdings in Janux Therapeutics by 1.6% during the 4th quarter. Rhumbline Advisers now owns 38,153 shares of the company's stock worth $2,043,000 after purchasing an additional 599 shares during the last quarter. Kennedy Capital Management LLC boosted its stake in Janux Therapeutics by 7.9% in the 4th quarter. Kennedy Capital Management LLC now owns 12,713 shares of the company's stock valued at $681,000 after purchasing an additional 928 shares during the period. MetLife Investment Management LLC grew its holdings in Janux Therapeutics by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 17,298 shares of the company's stock valued at $926,000 after buying an additional 949 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Janux Therapeutics by 10.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,128 shares of the company's stock valued at $596,000 after buying an additional 1,095 shares in the last quarter. 75.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

JANX has been the subject of a number of recent research reports. Scotiabank reduced their target price on shares of Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Wedbush reissued an "outperform" rating and issued a $76.00 price objective (up previously from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. Lifesci Capital upgraded shares of Janux Therapeutics to a "strong-buy" rating in a research report on Friday, December 27th. William Blair reiterated an "outperform" rating on shares of Janux Therapeutics in a research report on Friday, January 10th. Finally, HC Wainwright reiterated a "buy" rating and issued a $70.00 price target on shares of Janux Therapeutics in a research note on Monday, March 3rd. One equities 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $95.25.

Janux Therapeutics Price Performance

NASDAQ JANX opened at $30.01 on Wednesday. The business has a fifty day moving average price of $30.38 and a two-hundred day moving average price of $43.39. The stock has a market capitalization of $1.77 billion, a PE ratio of -25.65 and a beta of 3.27. Janux Therapeutics, Inc. has a fifty-two week low of $22.52 and a fifty-two week high of $71.71.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced 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 return on equity of 10.47% and a negative net margin of 463.91%. As a group, sell-side analysts expect that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Transactions at Janux Therapeutics

In other news, Director Ra Capital Management, L.P. acquired 110,206 shares of Janux Therapeutics stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $31.02 per share, for a total transaction of $3,418,590.12. Following the transaction, the director now directly owns 10,141,287 shares of the company's stock, valued at approximately $314,582,722.74. The trade was a 1.10 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Hollman Meyer sold 3,334 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.29, for a total value of $140,994.86. Following the completion of the transaction, the insider now directly owns 82,139 shares of the company's stock, valued at approximately $3,473,658.31. The trade was a 3.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.40% of the company's stock.

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.

Want to see what other hedge funds are holding JANX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.