Janux Therapeutics, Inc. $JANX Shares Sold by Cormorant Asset Management LP

Cormorant Asset Management LP lessened its stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 23.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 650,000 shares of the company's stock after selling 200,000 shares during the quarter. Janux Therapeutics comprises about 0.4% of Cormorant Asset Management LP's investment portfolio, making the stock its 28th biggest holding. Cormorant Asset Management LP owned 1.08% of Janux Therapeutics worth $8,970,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp increased its stake in shares of Janux Therapeutics by 103.8% during the fourth quarter. State Street Corp now owns 3,853,951 shares of the company's stock valued at $53,185,000 after acquiring an additional 1,962,486 shares during the period. Vanguard Group Inc. increased its stake in shares of Janux Therapeutics by 10.4% during the third quarter. Vanguard Group Inc. now owns 2,417,104 shares of the company's stock valued at $59,074,000 after acquiring an additional 227,676 shares during the period. Prosight Management LP increased its stake in shares of Janux Therapeutics by 176.5% during the fourth quarter. Prosight Management LP now owns 2,392,523 shares of the company's stock valued at $33,017,000 after acquiring an additional 1,527,173 shares during the period. Orbimed Advisors LLC increased its stake in shares of Janux Therapeutics by 45.9% during the third quarter. Orbimed Advisors LLC now owns 1,766,100 shares of the company's stock valued at $43,163,000 after acquiring an additional 555,800 shares during the period. Finally, Alyeska Investment Group L.P. increased its stake in shares of Janux Therapeutics by 206.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,301,089 shares of the company's stock valued at $17,955,000 after acquiring an additional 876,244 shares during the period. Institutional investors and hedge funds own 75.39% of the company's stock.

Insider Activity at Janux Therapeutics

In related news, insider Janeen Noel Doyle sold 4,059 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $14.03, for a total value of $56,947.77. Following the completion of the transaction, the insider owned 75,941 shares of the company's stock, valued at approximately $1,065,452.23. This trade represents a 5.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Maria Dobek sold 2,038 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $14.17, for a total transaction of $28,878.46. Following the completion of the transaction, the vice president directly owned 32,270 shares of the company's stock, valued at $457,265.90. This represents a 5.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 7.90% of the company's stock.

Janux Therapeutics Stock Performance

Janux Therapeutics stock opened at $14.15 on Thursday. The firm has a market cap of $862.87 million, a price-to-earnings ratio of -7.69 and a beta of 2.53. Janux Therapeutics, Inc. has a 1 year low of $12.12 and a 1 year high of $35.34. The firm's 50 day moving average price is $14.43 and its two-hundred day moving average price is $14.47.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.13. The business had revenue of $3.73 million during the quarter, compared to analyst estimates of $4.36 million. As a group, equities analysts predict that Janux Therapeutics, Inc. will post -1.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JANX. Piper Sandler lowered their price objective on shares of Janux Therapeutics from $30.00 to $26.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Cantor Fitzgerald lowered their price objective on shares of Janux Therapeutics from $150.00 to $100.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Barclays lowered shares of Janux Therapeutics from an "overweight" rating to an "underweight" rating and lowered their price objective for the company from $29.00 to $14.00 in a research note on Monday, April 20th. Wall Street Zen upgraded shares of Janux Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, April 5th. Finally, UBS Group lowered shares of Janux Therapeutics from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $57.00 to $15.00 in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.85.

About Janux Therapeutics

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.

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