Millennium Management LLC Invests $6.22 Million in Janux Therapeutics, Inc. (NASDAQ:JANX)

Millennium Management LLC acquired a new position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 116,102 shares of the company's stock, valued at approximately $6,216,000. Millennium Management LLC owned about 0.22% of Janux Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in shares of Janux Therapeutics by 77.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock valued at $54,000 after acquiring an additional 442 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Janux Therapeutics during the fourth quarter valued at about $159,000. Tower Research Capital LLC TRC increased its position in shares of Janux Therapeutics by 878.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company's stock valued at $205,000 after acquiring an additional 3,436 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Janux Therapeutics during the fourth quarter valued at about $221,000. Finally, Chicago Capital LLC acquired a new stake in shares of Janux Therapeutics during the fourth quarter valued at about $230,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on JANX shares. Wedbush reiterated an "outperform" rating and set a $76.00 price target (up from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. HC Wainwright reissued a "buy" rating and issued a $70.00 price objective on shares of Janux Therapeutics in a research note on Monday, March 3rd. Finally, Scotiabank lowered their price objective on shares of Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $95.25.

Janux Therapeutics Stock Performance

JANX stock traded down $0.33 during midday trading on Friday, reaching $23.71. 1,055,845 shares of the company were exchanged, compared to its average volume of 884,498. Janux Therapeutics, Inc. has a 1-year low of $22.48 and a 1-year high of $71.71. The stock's 50-day simple moving average is $27.37 and its 200 day simple moving average is $38.49. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -20.26 and a beta of 3.24.

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

Insiders Place Their Bets

In related news, Director Ra Capital Management, L.P. purchased 341,742 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $30.64 per share, with a total value of $10,470,974.88. Following the purchase, the director now directly owns 9,658,988 shares in the company, valued at $295,951,392.32. This trade represents a 3.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Andrew Hollman Meyer sold 3,334 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.15, for a total transaction of $107,188.10. Following the transaction, the insider now directly owns 82,139 shares in the company, valued at approximately $2,640,768.85. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,001 shares of company stock valued at $313,964. Insiders own 8.10% of the company's stock.

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.