Cutter Capital Management LP Acquires New Stake in Janux Therapeutics, Inc. (NASDAQ:JANX)

Cutter Capital Management LP purchased a new position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 120,000 shares of the company's stock, valued at approximately $6,425,000. Janux Therapeutics comprises approximately 2.6% of Cutter Capital Management LP's investment portfolio, making the stock its 17th biggest holding. Cutter Capital Management LP owned approximately 0.23% of Janux Therapeutics as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of JANX. Russell Investments Group Ltd. lifted its position in shares of Janux Therapeutics by 77.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock valued at $54,000 after buying an additional 442 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Janux Therapeutics during the 4th quarter valued at about $139,000. Meeder Asset Management Inc. bought a new position in shares of Janux Therapeutics in the 4th quarter worth $159,000. Tower Research Capital LLC TRC lifted its stake in Janux Therapeutics by 878.8% during the fourth 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 during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Janux Therapeutics during the fourth quarter worth approximately $221,000. 75.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on JANX shares. Scotiabank lowered 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. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 target price on shares of Janux Therapeutics in a research note on Monday, March 3rd. Finally, Wedbush reiterated an "outperform" rating and set a $76.00 price target (up from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Janux Therapeutics has an average rating of "Buy" and an average price target of $95.25.

Insider Buying and Selling

In other news, insider Andrew Hollman Meyer sold 3,334 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $30.00, for a total transaction of $100,020.00. Following the sale, the insider now owns 82,139 shares in the company, valued at $2,464,170. This represents a 3.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ra Capital Management, L.P. purchased 341,742 shares of Janux Therapeutics stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $30.64 per share, with a total value of $10,470,974.88. Following the transaction, the director now directly owns 9,658,988 shares of the company's stock, valued at $295,951,392.32. This represents a 3.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 10,001 shares of company stock valued at $313,964 over the last quarter. Corporate insiders own 8.10% of the company's stock.

Janux Therapeutics Trading Down 3.1 %

Janux Therapeutics stock traded down $0.81 during trading hours on Friday, hitting $25.56. 742,298 shares of the stock traded hands, compared to its average volume of 856,417. Janux Therapeutics, Inc. has a one year low of $22.52 and a one year high of $71.71. The company has a market cap of $1.51 billion, a PE ratio of -21.85 and a beta of 3.24. The firm's 50-day moving average price is $29.27 and its two-hundred day moving average price is $41.67.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.42) by $0.04. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. On average, sell-side analysts expect that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

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.