Avidity Partners Management LP Has $39.72 Million Stake in Janux Therapeutics, Inc. (NASDAQ:JANX)

Avidity Partners Management LP lifted its holdings in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 32.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 741,900 shares of the company's stock after acquiring an additional 179,900 shares during the period. Janux Therapeutics accounts for about 3.9% of Avidity Partners Management LP's holdings, making the stock its 3rd biggest position. Avidity Partners Management LP owned approximately 1.41% of Janux Therapeutics worth $39,721,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in Janux Therapeutics by 77.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock worth $54,000 after acquiring an additional 442 shares during the period. Avanza Fonder AB acquired a new position in Janux Therapeutics in the 4th quarter valued at $139,000. Meeder Asset Management Inc. purchased a new position in Janux Therapeutics during the 4th quarter worth $159,000. Tower Research Capital LLC TRC lifted its stake in shares of 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 acquiring an additional 3,436 shares during the period. Finally, Chicago Capital LLC acquired a new position in shares of Janux Therapeutics during the fourth quarter worth about $230,000. Hedge funds and other institutional investors own 75.39% of the company's stock.

Janux Therapeutics Price Performance

NASDAQ:JANX traded down $0.88 on Friday, reaching $25.49. The stock had a trading volume of 563,330 shares, compared to its average volume of 859,649. Janux Therapeutics, Inc. has a 12-month low of $22.52 and a 12-month high of $71.71. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -21.79 and a beta of 3.24. The firm's fifty day moving average is $29.36 and its two-hundred day moving average is $41.93.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.04. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. As a group, research analysts forecast that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Activity

In other Janux Therapeutics news, Director Ra Capital Management, L.P. purchased 110,206 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $31.02 per share, for a total transaction of $3,418,590.12. Following the completion of the acquisition, the director now owns 10,141,287 shares of the company's stock, valued at approximately $314,582,722.74. This represents a 1.10 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew Hollman Meyer sold 3,334 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.15, for a total value of $107,188.10. Following the completion of the sale, the insider now owns 82,139 shares of the company's stock, valued at approximately $2,640,768.85. This represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,001 shares of company stock valued at $313,964 in the last 90 days. 29.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on JANX shares. Scotiabank cut their target price 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. William Blair reaffirmed an "outperform" rating on shares of Janux Therapeutics in a research note on Friday, January 10th. Wedbush restated 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. Finally, HC Wainwright reissued a "buy" rating and set a $70.00 price target on shares of Janux Therapeutics in a research note on Monday, March 3rd. One investment 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 company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $95.25.

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.