Ally Bridge Group NY LLC Invests $4.94 Million in Janux Therapeutics, Inc. (NASDAQ:JANX)

Ally Bridge Group NY LLC bought a new position in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 108,811 shares of the company's stock, valued at approximately $4,943,000. Janux Therapeutics comprises approximately 2.6% of Ally Bridge Group NY LLC's portfolio, making the stock its 20th biggest position. Ally Bridge Group NY LLC owned about 0.21% of Janux Therapeutics as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of JANX. Summit Securities Group LLC acquired a new stake in shares of Janux Therapeutics during the 2nd quarter worth approximately $29,000. Amalgamated Bank raised its position in Janux Therapeutics by 61.1% in the 2nd quarter. Amalgamated Bank now owns 970 shares of the company's stock valued at $41,000 after purchasing an additional 368 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of Janux Therapeutics during the second quarter worth $42,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Janux Therapeutics by 21.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company's stock valued at $87,000 after acquiring an additional 339 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Janux Therapeutics during the second quarter worth approximately $151,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Ventures Xi L.P. Avalon sold 2,182 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $42.33, for a total transaction of $92,364.06. Following the completion of the transaction, the insider now owns 7,000 shares of the company's stock, valued at approximately $296,310. The trade was a 23.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ra Capital Management, L.P. bought 1,200,000 shares of the firm's stock in a transaction on Friday, October 18th. The stock was purchased at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the transaction, the director now owns 9,317,246 shares in the company, valued at $416,946,758.50. The trade was a 14.78 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 445,610 shares of company stock valued at $20,578,666. Company insiders own 29.40% of the company's stock.

Wall Street Analysts Forecast Growth

JANX has been the subject of several analyst reports. Leerink Partners began coverage on Janux Therapeutics in a research note on Friday, November 22nd. They set an "outperform" rating and a $79.00 price objective for the company. Scotiabank cut their target price on shares of Janux Therapeutics from $47.00 to $42.00 and set a "sector perform" rating for the company in a research note on Friday, August 9th. Stifel Nicolaus started coverage on shares of Janux Therapeutics in a research note on Friday, September 6th. They set a "buy" rating and a $70.00 price objective for the company. Leerink Partnrs upgraded Janux Therapeutics to a "strong-buy" rating in a report on Friday, November 22nd. Finally, UBS Group began coverage on shares of Janux Therapeutics in a research report on Thursday, October 24th. They set a "buy" rating and a $69.00 target price for the company. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $67.70.

Janux Therapeutics Price Performance

JANX traded down $1.61 during trading on Thursday, hitting $46.39. The company had a trading volume of 649,812 shares, compared to its average volume of 710,287. Janux Therapeutics, Inc. has a 1-year low of $7.79 and a 1-year high of $65.60. The company has a market cap of $2.43 billion, a PE ratio of -39.65 and a beta of 3.52. The business has a 50-day moving average of $49.98 and a 200-day moving average of $45.83.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.18). Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The firm had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. The firm's revenue was down 82.6% on a year-over-year basis. Research analysts forecast that Janux Therapeutics, Inc. will post -1.35 earnings per share for the current year.

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.