First Light Asset Management LLC Purchases 345,042 Shares of Janux Therapeutics, Inc. $JANX

Key Points

• First Light Asset Management LLC increased its stake in Janux Therapeutics by 110.0% during the first quarter, owning a total of 658,824 shares worth approximately $17.8 million.
• Several other institutional investors have also significantly increased their positions in Janux, with 75.39% of the company's stock now held by institutional investors.
• Research analysts have a positive outlook on Janux Therapeutics, assigning it a consensus rating of "Buy" and an average target price of $86.90.

First Light Asset Management LLC boosted its holdings in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 110.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 658,824 shares of the company's stock after buying an additional 345,042 shares during the quarter. Janux Therapeutics makes up 2.0% of First Light Asset Management LLC's holdings, making the stock its 19th biggest holding. First Light Asset Management LLC owned approximately 1.11% of Janux Therapeutics worth $17,788,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of JANX. Paradigm Biocapital Advisors LP boosted its stake in Janux Therapeutics by 46.5% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 3,515,986 shares of the company's stock valued at $188,246,000 after buying an additional 1,115,412 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Janux Therapeutics by 41.2% in the fourth quarter. Janus Henderson Group PLC now owns 3,562,402 shares of the company's stock valued at $190,617,000 after buying an additional 1,038,996 shares in the last quarter. RA Capital Management L.P. raised its position in Janux Therapeutics by 7.9% in the first quarter. RA Capital Management L.P. now owns 11,189,693 shares of the company's stock valued at $302,122,000 after purchasing an additional 824,041 shares during the last quarter. Bank of America Corp DE raised its position in Janux Therapeutics by 1,165.6% in the fourth quarter. Bank of America Corp DE now owns 794,761 shares of the company's stock valued at $42,552,000 after purchasing an additional 731,962 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Janux Therapeutics by 3,592.9% in the fourth quarter. Wellington Management Group LLP now owns 535,396 shares of the company's stock valued at $28,665,000 after purchasing an additional 520,898 shares during the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on JANX shares. Piper Sandler started coverage on Janux Therapeutics in a research report on Monday, August 18th. They issued an "overweight" rating and a $42.00 target price for the company. Guggenheim started coverage on Janux Therapeutics in a research report on Wednesday. They issued a "buy" rating and a $72.00 target price for the company. Finally, Raymond James Financial started coverage on Janux Therapeutics in a research report on Friday, July 11th. They issued an "outperform" rating and a $65.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $85.55.

Janux Therapeutics Stock Performance

Shares of JANX traded up $0.04 during mid-day trading on Friday, reaching $23.98. 429,791 shares of the company were exchanged, compared to its average volume of 684,759. Janux Therapeutics, Inc. has a 52 week low of $21.97 and a 52 week high of $71.71. The stock has a market capitalization of $1.44 billion, a PE ratio of -13.32 and a beta of 2.84. The business has a 50 day simple moving average of $24.53 and a two-hundred day simple moving average of $26.76.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.07). On average, analysts predict that Janux Therapeutics, Inc. will post -1.38 EPS 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.