Point72 Asset Management L.P. Boosts Stake in Janux Therapeutics, Inc. (NASDAQ:JANX)

Point72 Asset Management L.P. grew its stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 190.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 395,875 shares of the company's stock after purchasing an additional 259,445 shares during the period. Point72 Asset Management L.P. owned about 0.75% of Janux Therapeutics worth $17,985,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of JANX. Janus Henderson Group PLC lifted its position in shares of Janux Therapeutics by 40.0% during the third quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company's stock valued at $114,587,000 after purchasing an additional 721,563 shares in the last quarter. Logos Global Management LP increased its stake in Janux Therapeutics by 400.0% in the 2nd quarter. Logos Global Management LP now owns 750,000 shares of the company's stock valued at $31,418,000 after buying an additional 600,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Janux Therapeutics by 202.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company's stock valued at $10,639,000 after buying an additional 156,675 shares during the last quarter. Ensign Peak Advisors Inc bought a new position in shares of Janux Therapeutics during the 2nd quarter worth approximately $5,571,000. Finally, Ally Bridge Group NY LLC purchased a new position in shares of Janux Therapeutics in the 3rd quarter worth approximately $4,943,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

Janux Therapeutics Stock Down 2.0 %

JANX traded down $1.31 on Friday, hitting $64.99. The company's stock had a trading volume of 1,665,716 shares, compared to its average volume of 1,267,921. Janux Therapeutics, Inc. has a 12 month low of $7.79 and a 12 month high of $71.71. The firm has a market cap of $3.41 billion, a P/E ratio of -55.55 and a beta of 3.29. The company's 50 day simple moving average is $50.98 and its 200-day simple moving average is $46.22.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly 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 company had revenue of $0.44 million during the quarter, compared to the consensus estimate of $1.50 million. The firm's quarterly revenue was down 82.6% compared to the same quarter last year. Equities analysts predict that Janux Therapeutics, Inc. will post -1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. UBS Group began coverage on Janux Therapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $69.00 price target on the stock. Scotiabank lifted their target price on Janux Therapeutics from $42.00 to $62.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Leerink Partnrs upgraded shares of Janux Therapeutics to a "strong-buy" rating in a research report on Friday, November 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $100.00 price objective on shares of Janux Therapeutics in a research report on Thursday, November 7th. Finally, Leerink Partners boosted their target price on shares of Janux Therapeutics from $79.00 to $91.00 and gave the company an "outperform" rating in a research note on Tuesday. One 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. According to MarketBeat.com, Janux Therapeutics currently has a consensus rating of "Buy" and an average target price of $79.90.

Insiders Place Their Bets

In other Janux Therapeutics news, Director Ra Capital Management, L.P. bought 1,200,000 shares of Janux Therapeutics stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average cost of $44.75 per share, for a total transaction of $53,700,000.00. Following the completion of the transaction, the director now directly owns 9,317,246 shares in the company, valued at $416,946,758.50. This represents a 14.78 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ventures Xi L.P. Avalon sold 2,182 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $42.33, for a total value of $92,364.06. Following the completion of the sale, the insider now directly owns 7,000 shares in the company, valued at approximately $296,310. The trade was a 23.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 352,245 shares of company stock worth $17,032,336 in the last quarter. 29.40% of the stock is owned by company insiders.

Janux Therapeutics Profile

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.