Millennium Management LLC Makes New Investment in Janux Therapeutics, Inc. (NASDAQ:JANX)

Millennium Management LLC acquired a new stake in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 116,102 shares of the company's stock, valued at approximately $6,216,000. Millennium Management LLC owned approximately 0.22% of Janux Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Barclays PLC increased its position in shares of Janux Therapeutics by 496.5% in the third quarter. Barclays PLC now owns 174,061 shares of the company's stock worth $7,907,000 after purchasing an additional 144,883 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Janux Therapeutics by 10.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,128 shares of the company's stock worth $596,000 after buying an additional 1,095 shares in the last quarter. Chicago Capital LLC bought a new position in Janux Therapeutics in the 4th quarter valued at about $230,000. abrdn plc bought a new position in Janux Therapeutics in the 4th quarter valued at about $3,430,000. Finally, Lester Murray Antman dba SimplyRich raised its position in shares of Janux Therapeutics by 205.3% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 24,315 shares of the company's stock valued at $1,301,000 after buying an additional 16,351 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JANX shares. Wedbush reiterated an "outperform" rating and set a $76.00 price target (up previously from $75.00) on shares of Janux Therapeutics in a research report on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 target price on shares of Janux Therapeutics in a report on Monday, March 3rd. Finally, Scotiabank lowered their price target on Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $95.25.

Janux Therapeutics Price Performance

JANX stock traded down $0.33 during midday trading on Friday, reaching $23.71. 1,055,845 shares of the stock were exchanged, compared to its average volume of 885,394. Janux Therapeutics, Inc. has a 52 week low of $22.48 and a 52 week high of $71.71. The company has a fifty day moving average price of $27.51 and a 200 day moving average price of $38.87. The stock has a market capitalization of $1.40 billion, a PE ratio of -20.26 and a beta of 3.24.

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

Insiders Place Their Bets

In related news, Director Ra Capital Management, L.P. purchased 110,206 shares of Janux Therapeutics stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $31.02 per share, for a total transaction of $3,418,590.12. Following the transaction, the director now owns 10,141,287 shares of the company's stock, valued at approximately $314,582,722.74. This represents a 1.10% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Andrew Hollman Meyer sold 3,333 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $32.03, for a total value of $106,755.99. Following the transaction, the insider now owns 82,139 shares of the company's stock, valued at $2,630,912.17. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,001 shares of company stock valued at $313,964 in the last ninety days. 8.10% of the stock is currently owned by insiders.

Janux Therapeutics 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.