Rhenman & Partners Asset Management AB Raises Stock Holdings in Janux Therapeutics, Inc. (NASDAQ:JANX)

Rhenman & Partners Asset Management AB grew its holdings in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 59.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 170,000 shares of the company's stock after buying an additional 63,153 shares during the quarter. Rhenman & Partners Asset Management AB owned 0.32% of Janux Therapeutics worth $9,102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in JANX. Avanza Fonder AB acquired a new stake in Janux Therapeutics in the 4th quarter valued at about $139,000. Meeder Asset Management Inc. acquired a new stake in shares of Janux Therapeutics in the fourth quarter valued at approximately $159,000. Chicago Capital LLC purchased a new position in Janux Therapeutics during the fourth quarter worth approximately $230,000. Y Intercept Hong Kong Ltd acquired a new position in Janux Therapeutics during the third quarter worth $317,000. Finally, Virtu Financial LLC grew its holdings in Janux Therapeutics by 48.0% in the 3rd quarter. Virtu Financial LLC now owns 7,463 shares of the company's stock valued at $339,000 after buying an additional 2,419 shares in the last quarter. Hedge funds and other institutional investors own 75.39% of the company's stock.

Insiders Place Their Bets

In other Janux Therapeutics news, Director Ra Capital Management, L.P. bought 110,206 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $31.02 per share, with a total value of $3,418,590.12. Following the transaction, the director now owns 10,141,287 shares in the company, valued at $314,582,722.74. This trade represents a 1.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Andrew Hollman Meyer sold 3,334 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.15, for a total transaction of $107,188.10. Following the completion of the transaction, the insider now directly owns 82,139 shares in the company, valued at approximately $2,640,768.85. This represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. 29.40% of the stock is currently owned by insiders.

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Janux Therapeutics Price Performance

JANX traded down $1.01 during midday trading on Thursday, reaching $25.82. 672,702 shares of the company's stock were exchanged, compared to its average volume of 867,033. The business's 50-day moving average price is $32.28 and its 200 day moving average price is $44.44. The stock has a market capitalization of $1.53 billion, a PE ratio of -22.05 and a beta of 3.27. Janux Therapeutics, Inc. has a 1-year low of $22.52 and a 1-year high of $71.71.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results 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, analysts expect that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JANX. William Blair reissued an "outperform" rating on shares of Janux Therapeutics in a research report on Friday, January 10th. HC Wainwright reissued a "buy" rating and issued a $70.00 price target on shares of Janux Therapeutics in a research note on Monday, March 3rd. Lifesci Capital upgraded shares of Janux Therapeutics to a "strong-buy" rating in a report on Friday, December 27th. Scotiabank decreased their price objective on Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Finally, Wedbush reissued an "outperform" rating and set a $76.00 target price (up previously from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $92.44.

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.