Cubist Systematic Strategies LLC Raises Stock Position in Janux Therapeutics, Inc. $JANX

Key Points

• Cubist Systematic Strategies LLC increased its stake in Janux Therapeutics by 88.0% in Q1, acquiring an additional 35,511 shares to bring total holdings to 75,860 shares worth $2,048,000.
• Multiple hedge funds significantly increased their investments in Janux Therapeutics, with one, GAMMA Investing LLC, raising its stake by 1,574.0%.
• Wall Street analysts are optimistic, with a consensus rating of "Buy" and a target price averaging $85.55 for the stock.

Cubist Systematic Strategies LLC grew its stake in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 88.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,860 shares of the company's stock after acquiring an additional 35,511 shares during the quarter. Cubist Systematic Strategies LLC owned 0.13% of Janux Therapeutics worth $2,048,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of Janux Therapeutics by 107.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 63,512 shares of the company's stock worth $3,400,000 after purchasing an additional 32,917 shares in the last quarter. Northern Trust Corp increased its holdings in Janux Therapeutics by 15.9% during the 4th quarter. Northern Trust Corp now owns 308,800 shares of the company's stock worth $16,533,000 after purchasing an additional 42,302 shares during the period. Ameriprise Financial Inc. increased its holdings in Janux Therapeutics by 182.8% during the 4th quarter. Ameriprise Financial Inc. now owns 14,906 shares of the company's stock worth $798,000 after purchasing an additional 9,636 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Janux Therapeutics in the 4th quarter valued at $366,000. Finally, Bank of America Corp DE boosted its position in shares of Janux Therapeutics by 1,165.6% in the 4th quarter. Bank of America Corp DE now owns 794,761 shares of the company's stock worth $42,552,000 after purchasing an additional 731,962 shares in the last quarter. Hedge funds and other institutional investors own 75.39% of the company's stock.

Janux Therapeutics Stock Performance

Shares of Janux Therapeutics stock traded down $1.03 during trading hours on Tuesday, reaching $23.78. The company's stock had a trading volume of 499,605 shares, compared to its average volume of 681,860. The stock's fifty day simple moving average is $24.57 and its two-hundred day simple moving average is $26.51. Janux Therapeutics, Inc. has a one year low of $21.97 and a one year high of $71.71. The company has a market capitalization of $1.43 billion, a P/E ratio of -13.21 and a beta of 2.84.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.07). As a group, research analysts forecast that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JANX. Piper Sandler initiated coverage on Janux Therapeutics in a report on Monday, August 18th. They issued an "overweight" rating and a $42.00 price objective for the company. Guggenheim initiated coverage on Janux Therapeutics in a report on Wednesday, September 3rd. They set a "buy" rating and a $72.00 price target on the stock. Finally, Raymond James Financial assumed coverage on Janux Therapeutics in a research report on Friday, July 11th. They set an "outperform" rating and a $65.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $85.55.

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.