Janux Therapeutics, Inc. $JANX Shares Sold by Paradigm Biocapital Advisors LP

Key Points

• Paradigm Biocapital Advisors LP reduced its stake in Janux Therapeutics by 5.3%, now owning approximately 3.33 million shares, which constitutes about 4.2% of its investment portfolio.
• Opinions on Janux Therapeutics' stock vary, with analysts setting a consensus price target of $86.90 and a majority rating it as "Buy" or "Strong Buy."
• Janux Therapeutics recently reported a quarterly loss of $0.55 per share, falling short of analysts' expectations of a loss of $0.48 per share.

Paradigm Biocapital Advisors LP decreased its holdings in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,329,909 shares of the company's stock after selling 186,077 shares during the quarter. Janux Therapeutics comprises approximately 4.2% of Paradigm Biocapital Advisors LP's holdings, making the stock its 8th largest position. Paradigm Biocapital Advisors LP owned about 5.63% of Janux Therapeutics worth $89,908,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Janux Therapeutics by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,033 shares of the company's stock valued at $244,000 after purchasing an additional 3,168 shares during the period. New York State Common Retirement Fund lifted its position in shares of Janux Therapeutics by 3.0% in the 1st quarter. New York State Common Retirement Fund now owns 16,435 shares of the company's stock worth $444,000 after acquiring an additional 471 shares during the period. Millennium Management LLC bought a new stake in shares of Janux Therapeutics in the 4th quarter worth approximately $6,216,000. California State Teachers Retirement System lifted its position in shares of Janux Therapeutics by 82.2% in the 4th quarter. California State Teachers Retirement System now owns 36,735 shares of the company's stock worth $1,967,000 after acquiring an additional 16,575 shares during the period. Finally, KBC Group NV bought a new stake in shares of Janux Therapeutics in the 1st quarter worth approximately $66,000. Institutional investors own 75.39% of the company's stock.

Janux Therapeutics Stock Up 0.2%

JANX stock traded up $0.05 during midday trading on Friday, reaching $23.99. 175,406 shares of the company's stock traded hands, compared to its average volume of 917,396. The company has a 50-day simple moving average of $24.51 and a two-hundred day simple moving average of $26.85. Janux Therapeutics, Inc. has a 1-year low of $21.97 and a 1-year high of $71.71. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -13.42 and a beta of 2.84.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly 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). Equities research analysts forecast that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Wall Street Analyst Weigh In

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

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.