Tang Capital Management LLC Takes $2.68 Million Position in Janux Therapeutics, Inc. (NASDAQ:JANX)

Tang Capital Management LLC bought a new stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 50,000 shares of the company's stock, valued at approximately $2,677,000. Tang Capital Management LLC owned 0.10% of Janux Therapeutics at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Tema Etfs LLC purchased a new stake in shares of Janux Therapeutics in the fourth quarter worth about $280,000. Stempoint Capital LP boosted its stake in shares of Janux Therapeutics by 195.2% during the fourth quarter. Stempoint Capital LP now owns 145,876 shares of the company's stock valued at $7,810,000 after purchasing an additional 96,461 shares during the period. Shay Capital LLC bought a new position in Janux Therapeutics in the 4th quarter worth about $375,000. Sphera Funds Management LTD. bought a new position in Janux Therapeutics in the fourth quarter worth approximately $3,659,000. Finally, Ratan Capital Management LP increased its stake in shares of Janux Therapeutics by 522.6% during the fourth quarter. Ratan Capital Management LP now owns 179,307 shares of the company's stock valued at $9,600,000 after buying an additional 150,507 shares during the period. 75.39% of the stock is owned by hedge funds and other institutional investors.

Janux Therapeutics Price Performance

JANX stock traded up $0.51 during midday trading on Friday, hitting $25.72. 688,369 shares of the stock traded hands, compared to its average volume of 870,489. Janux Therapeutics, Inc. has a 1-year low of $22.48 and a 1-year high of $71.71. The stock's fifty day simple moving average is $28.14 and its 200-day simple moving average is $39.91. The firm has a market cap of $1.52 billion, a P/E ratio of -22.00 and a beta of 3.24.

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

Insider Activity

In other news, Director Ra Capital Management, L.P. bought 110,206 shares of Janux Therapeutics stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $31.02 per share, with a total value of $3,418,590.12. Following the completion of the acquisition, the director now directly owns 10,141,287 shares of the company's stock, valued at $314,582,722.74. The trade was a 1.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew Hollman Meyer sold 3,334 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $30.00, for a total value of $100,020.00. Following the completion of the transaction, the insider now owns 82,139 shares in the company, valued at approximately $2,464,170. This trade represents a 3.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,001 shares of company stock worth $313,964 in the last quarter. Corporate insiders own 29.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JANX. HC Wainwright reiterated a "buy" rating and issued a $70.00 price target on shares of Janux Therapeutics in a report on Monday, March 3rd. Wedbush reaffirmed an "outperform" rating and issued a $76.00 price target (up previously from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. Finally, Scotiabank dropped their target price on Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Janux Therapeutics has an average rating of "Buy" and an average price target 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.