Adage Capital Partners GP L.L.C. Increases Stock Holdings in Janux Therapeutics, Inc. (NASDAQ:JANX)

Adage Capital Partners GP L.L.C. grew its stake in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 47.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,061,750 shares of the company's stock after purchasing an additional 986,750 shares during the period. Adage Capital Partners GP L.L.C. owned about 5.83% of Janux Therapeutics worth $163,926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in JANX. Russell Investments Group Ltd. grew its stake in shares of Janux Therapeutics by 77.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock worth $54,000 after buying an additional 442 shares during the last quarter. Avanza Fonder AB bought a new stake in Janux Therapeutics during the 4th quarter worth $139,000. Meeder Asset Management Inc. acquired a new position in Janux Therapeutics in the 4th quarter worth about $159,000. Tower Research Capital LLC TRC increased its holdings in Janux Therapeutics by 878.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company's stock worth $205,000 after purchasing an additional 3,436 shares in the last quarter. Finally, Chicago Capital LLC acquired a new stake in shares of Janux Therapeutics during the fourth quarter valued at about $230,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Janux Therapeutics Trading Up 2.7 %

JANX stock traded up $0.84 during mid-day trading on Monday, reaching $31.89. The company's stock had a trading volume of 143,129 shares, compared to its average volume of 849,959. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -27.24 and a beta of 3.27. Janux Therapeutics, Inc. has a 12 month low of $22.52 and a 12 month high of $71.71. The business's 50 day moving average price is $30.08 and its 200 day moving average price is $43.08.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.49) by $0.13. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. As a group, equities analysts expect that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Janux Therapeutics in a research note on Monday, March 3rd. William Blair reaffirmed an "outperform" rating on shares of Janux Therapeutics in a research note on Friday, January 10th. Scotiabank reduced their price objective on shares of Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Finally, Wedbush reaffirmed an "outperform" rating and set a $76.00 target price (up from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Janux Therapeutics has a consensus rating of "Buy" and a consensus price target of $95.25.

Insider Transactions at Janux Therapeutics

In other news, Director Ra Capital Management, L.P. bought 110,206 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $31.02 per share, with a total value of $3,418,590.12. Following the completion of the transaction, the director now directly owns 10,141,287 shares of the company's stock, valued at $314,582,722.74. This trade represents a 1.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Andrew Hollman Meyer sold 3,334 shares of Janux Therapeutics stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.15, for a total transaction of $107,188.10. Following the completion of the sale, the insider now directly owns 82,139 shares of the company's stock, valued at approximately $2,640,768.85. The trade was a 3.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,002 shares of company stock valued at $348,203 in the last 90 days. 29.40% of the stock is currently owned by corporate insiders.

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.