Cutter Capital Management LP Makes New $6.43 Million Investment in Janux Therapeutics, Inc. (NASDAQ:JANX)

Cutter Capital Management LP acquired a new position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 120,000 shares of the company's stock, valued at approximately $6,425,000. Janux Therapeutics accounts for about 2.6% of Cutter Capital Management LP's holdings, making the stock its 17th biggest position. Cutter Capital Management LP owned about 0.23% of Janux Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. RA Capital Management L.P. grew its holdings in Janux Therapeutics by 13.1% in the fourth quarter. RA Capital Management L.P. now owns 10,365,652 shares of the company's stock worth $554,977,000 after purchasing an additional 1,200,000 shares during the period. FMR LLC grew its stake in shares of Janux Therapeutics by 10.8% in the 4th quarter. FMR LLC now owns 8,669,941 shares of the company's stock valued at $464,189,000 after buying an additional 845,266 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Janux Therapeutics by 47.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company's stock valued at $163,926,000 after buying an additional 986,750 shares in the last quarter. Vanguard Group Inc. increased its position in Janux Therapeutics by 15.6% in the 4th quarter. Vanguard Group Inc. now owns 2,136,332 shares of the company's stock valued at $114,379,000 after buying an additional 288,402 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in Janux Therapeutics by 80.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,267,803 shares of the company's stock worth $67,878,000 after acquiring an additional 564,322 shares in the last quarter. Institutional investors own 75.39% of the company's stock.

Insider Transactions at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 3,333 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $32.03, for a total value of $106,755.99. Following the completion of the transaction, the insider now directly owns 82,139 shares of the company's stock, valued at approximately $2,630,912.17. This trade represents a 3.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ra Capital Management, L.P. bought 110,206 shares of the stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $31.02 per share, for a total transaction of $3,418,590.12. Following the acquisition, the director now directly owns 10,141,287 shares in the company, valued at approximately $314,582,722.74. This trade represents a 1.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 10,001 shares of company stock worth $313,964. 29.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Janux Therapeutics Stock Performance

Shares of NASDAQ:JANX opened at $29.79 on Tuesday. The company has a market capitalization of $1.76 billion, a P/E ratio of -25.46 and a beta of 3.24. Janux Therapeutics, Inc. has a fifty-two week low of $22.52 and a fifty-two week high of $71.71. The company's 50-day moving average is $29.74 and its 200 day moving average is $42.33.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. As a group, research analysts predict that Janux Therapeutics, Inc. will post -1.38 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.

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