Readystate Asset Management LP Acquires New Shares in Janux Therapeutics, Inc. (NASDAQ:JANX)

Readystate Asset Management LP purchased a new stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 32,335 shares of the company's stock, valued at approximately $1,469,000. Readystate Asset Management LP owned approximately 0.06% of Janux Therapeutics as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in Janux Therapeutics during the 2nd quarter valued at $29,000. Amalgamated Bank boosted its stake in Janux Therapeutics by 61.1% during 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 bought a new position in Janux Therapeutics during the 2nd quarter valued at $42,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Janux Therapeutics by 21.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company's stock valued at $87,000 after purchasing an additional 339 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Janux Therapeutics during the 2nd quarter valued at $151,000. 75.39% of the stock is owned by institutional investors.

Janux Therapeutics Price Performance

NASDAQ JANX traded up $0.09 on Thursday, hitting $66.93. 2,534,543 shares of the stock were exchanged, compared to its average volume of 770,925. Janux Therapeutics, Inc. has a 52-week low of $7.79 and a 52-week high of $71.71. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -58.37 and a beta of 3.29. The company's 50-day moving average price is $50.21 and its two-hundred day moving average price is $45.96.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $1.50 million. The company's revenue for the quarter was down 82.6% on a year-over-year basis. Equities analysts predict that Janux Therapeutics, Inc. will post -1.35 EPS for the current fiscal year.

Insider Activity

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 transaction, the insider now directly owns 7,000 shares in the company, valued at $296,310. The trade was a 23.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Alan Campbell sold 15,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $67.00, for a total transaction of $1,005,000.00. Following the transaction, the chief executive officer now owns 242,054 shares in the company, valued at approximately $16,217,618. This represents a 5.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 460,610 shares of company stock worth $21,583,666 in the last ninety days. Corporate insiders own 29.40% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on JANX shares. Scotiabank raised their target price on shares of Janux Therapeutics from $42.00 to $62.00 and gave the stock a "sector perform" rating in a report on Wednesday. Wedbush restated an "outperform" rating and issued a $74.00 price target on shares of Janux Therapeutics in a research report on Thursday, August 8th. Leerink Partnrs upgraded shares of Janux Therapeutics to a "strong-buy" rating in a research report on Friday, November 22nd. Leerink Partners lifted their price target on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Stifel Nicolaus lifted their price target on shares of Janux Therapeutics from $70.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $79.90.

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.