Ovata Capital Management Ltd Trims Stake in Janux Therapeutics, Inc. (NASDAQ:JANX)

Ovata Capital Management Ltd lowered its stake in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 50.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the company's stock after selling 20,000 shares during the period. Janux Therapeutics accounts for approximately 0.5% of Ovata Capital Management Ltd's holdings, making the stock its 28th biggest holding. Ovata Capital Management Ltd's holdings in Janux Therapeutics were worth $838,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lord Abbett & CO. LLC bought a new stake in shares of Janux Therapeutics during the 1st quarter valued at about $20,420,000. Vanguard Group Inc. boosted its position in Janux Therapeutics by 38.6% during the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company's stock valued at $51,127,000 after acquiring an additional 378,477 shares in the last quarter. Altitude Crest Partners Inc. purchased a new position in shares of Janux Therapeutics during the 1st quarter worth approximately $7,278,000. StemPoint Capital LP purchased a new position in shares of Janux Therapeutics during the 1st quarter worth approximately $4,580,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Janux Therapeutics by 136.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,027 shares of the company's stock valued at $4,818,000 after purchasing an additional 66,340 shares during the period. 75.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on JANX shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday, August 8th. Wedbush restated an "outperform" rating and issued a $74.00 price objective on shares of Janux Therapeutics in a report on Thursday, August 8th. Stifel Nicolaus initiated coverage on shares of Janux Therapeutics in a report on Friday. They set a "buy" rating and a $70.00 target price for the company. HC Wainwright restated a "buy" rating and issued a $63.00 price target on shares of Janux Therapeutics in a research note on Monday, August 19th. Finally, Scotiabank lowered their price objective on 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $66.13.

Janux Therapeutics Trading Down 5.6 %

JANX traded down $2.45 during trading on Friday, hitting $41.26. 873,693 shares of the company's stock traded hands, compared to its average volume of 724,581. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -33.82 and a beta of 3.57. The company's 50 day simple moving average is $42.19 and its two-hundred day simple moving average is $43.09. Janux Therapeutics, Inc. has a 12-month low of $5.65 and a 12-month high of $65.60.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.20. The company had revenue of $8.90 million for the quarter, compared to analysts' expectations of $0.77 million. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The firm's revenue for the quarter was up 709.1% compared to the same quarter last year. On average, equities analysts expect that Janux Therapeutics, Inc. will post -1.17 EPS 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.