Vestal Point Capital LP Sells 240,000 Shares of Janux Therapeutics, Inc. (NASDAQ:JANX)

Vestal Point Capital LP lowered its holdings in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 33.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 485,000 shares of the company's stock after selling 240,000 shares during the quarter. Janux Therapeutics comprises approximately 1.7% of Vestal Point Capital LP's investment portfolio, making the stock its 20th largest holding. Vestal Point Capital LP owned about 0.92% of Janux Therapeutics worth $22,034,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of JANX. Ally Bridge Group NY LLC bought a new position in Janux Therapeutics during the 3rd quarter valued at $4,943,000. FMR LLC raised its holdings in shares of Janux Therapeutics by 0.6% in the third quarter. FMR LLC now owns 7,824,675 shares of the company's stock valued at $355,475,000 after purchasing an additional 47,075 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Janux Therapeutics by 27.2% during the third quarter. The Manufacturers Life Insurance Company now owns 30,595 shares of the company's stock valued at $1,390,000 after purchasing an additional 6,547 shares in the last quarter. Algert Global LLC purchased a new position in Janux Therapeutics during the third quarter worth about $1,112,000. Finally, Charles Schwab Investment Management Inc. grew its position 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 worth $10,639,000 after purchasing an additional 156,675 shares in the last quarter. Institutional investors own 75.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JANX. Cantor Fitzgerald restated an "overweight" rating and issued a $100.00 price objective on shares of Janux Therapeutics in a research note on Thursday, November 7th. Leerink Partners initiated coverage on shares of Janux Therapeutics in a research report on Friday, November 22nd. They set an "outperform" rating and a $79.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $63.00 price objective on shares of Janux Therapeutics in a research report on Thursday, November 7th. Scotiabank dropped their target price on shares of Janux Therapeutics from $47.00 to $42.00 and set a "sector perform" rating on the stock in a research note on Friday, August 9th. Finally, Wedbush restated an "outperform" rating and set a $74.00 price target on shares of Janux Therapeutics in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Janux Therapeutics has an average rating of "Buy" and an average target price of $67.70.

Insider Activity at Janux Therapeutics

In other news, Director Ra Capital Management, L.P. bought 1,200,000 shares of the stock in a transaction on Friday, October 18th. The shares were acquired at an average cost of $44.75 per share, for a total transaction of $53,700,000.00. Following the purchase, the director now directly owns 9,317,246 shares of the company's stock, valued at $416,946,758.50. This trade represents a 14.78 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the business's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the transaction, the insider now owns 3,162,851 shares of the company's stock, valued at $132,839,742. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 445,610 shares of company stock worth $20,578,666. 29.40% of the stock is owned by company insiders.

Janux Therapeutics Stock Performance

Shares of JANX stock traded down $1.18 during trading on Friday, reaching $45.21. 534,619 shares of the company's stock traded hands, compared to its average volume of 709,527. The firm's 50-day moving average is $49.98 and its 200 day moving average is $45.83. Janux Therapeutics, Inc. has a 1 year low of $7.79 and a 1 year high of $65.60.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics's revenue for the quarter was down 82.6% on a year-over-year basis. On average, sell-side analysts anticipate 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.