Fred Alger Management LLC Takes Position in Janux Therapeutics, Inc. (NASDAQ:JANX)

Fred Alger Management LLC purchased a new position in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,501 shares of the company's stock, valued at approximately $1,258,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Lester Murray Antman dba SimplyRich raised its position in Janux Therapeutics by 205.3% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 24,315 shares of the company's stock valued at $1,301,000 after buying an additional 16,351 shares during the period. abrdn plc purchased a new stake in shares of Janux Therapeutics in the fourth quarter worth approximately $3,430,000. Barclays PLC boosted its holdings in shares of Janux Therapeutics by 496.5% during the third quarter. Barclays PLC now owns 174,061 shares of the company's stock worth $7,907,000 after purchasing an additional 144,883 shares during the period. Legal & General Group Plc grew its position in Janux Therapeutics by 45.3% during the fourth quarter. Legal & General Group Plc now owns 34,540 shares of the company's stock valued at $1,849,000 after purchasing an additional 10,776 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Janux Therapeutics by 1.6% in the 4th quarter. Rhumbline Advisers now owns 38,153 shares of the company's stock valued at $2,043,000 after buying an additional 599 shares during the period. Institutional investors and hedge funds own 75.39% of the company's stock.

Insider Buying and Selling

In other news, insider Andrew Hollman Meyer sold 3,333 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $32.03, for a total value of $106,755.99. Following the sale, the insider now directly owns 82,139 shares in the company, valued at $2,630,912.17. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ra Capital Management, L.P. bought 341,742 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $30.64 per share, for a total transaction of $10,470,974.88. Following the transaction, the director now owns 9,658,988 shares in the company, valued at $295,951,392.32. The trade was a 3.67% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 10,001 shares of company stock valued at $313,964. 8.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on JANX shares. Wedbush reaffirmed an "outperform" rating and issued a $76.00 target price (up from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. Scotiabank cut their price target on Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $70.00 price target on shares of Janux Therapeutics in a research note on Monday, March 3rd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $95.25.

Janux Therapeutics Price Performance

JANX traded down $2.71 during mid-day trading on Wednesday, hitting $22.62. The stock had a trading volume of 1,527,247 shares, compared to its average volume of 863,732. Janux Therapeutics, Inc. has a 1-year low of $22.51 and a 1-year high of $71.71. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -19.33 and a beta of 3.24. The stock's fifty day simple moving average is $29.06 and its 200-day simple moving average is $41.29.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.05. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. As a group, research analysts expect that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Janux Therapeutics Company 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.