Driehaus Capital Management LLC Takes Position in Janux Therapeutics, Inc. (NASDAQ:JANX)

Driehaus Capital Management LLC purchased a new position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 515,646 shares of the company's stock, valued at approximately $27,608,000. Driehaus Capital Management LLC owned 0.98% of Janux Therapeutics at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $70.00 price objective on shares of Janux Therapeutics in a research report on Monday, March 3rd. Wedbush reissued an "outperform" rating and issued a $76.00 target price (up previously from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. Finally, Scotiabank lowered 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. One research 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 currently has a consensus rating of "Buy" and a consensus price target of $95.25.

Janux Therapeutics Trading Down 8.4%

Shares of JANX traded down $2.14 during mid-day trading on Wednesday, hitting $23.19. The company's stock had a trading volume of 720,255 shares, compared to its average volume of 859,873. The company's 50-day moving average is $29.06 and its 200-day moving average is $41.29. Janux Therapeutics, Inc. has a 52-week low of $22.52 and a 52-week high of $71.71. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -19.82 and a beta of 3.24.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.38) EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.05. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. As a group, sell-side analysts predict that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Activity at Janux Therapeutics

In other news, Director Ra Capital Management, L.P. purchased 110,206 shares of the business's stock in a transaction on Friday, March 7th. The shares were bought at an average price 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 in the company, valued at approximately $314,582,722.74. This represents a 1.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Hollman Meyer sold 3,334 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.15, for a total transaction of $107,188.10. Following the transaction, the insider now owns 82,139 shares in the company, valued at $2,640,768.85. The trade was a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,001 shares of company stock worth $313,964 over the last quarter. Insiders own 8.10% of the company's stock.

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.