Readystate Asset Management LP Reduces Stock Position in Janux Therapeutics, Inc. (NASDAQ:JANX)

Readystate Asset Management LP cut its stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 276,560 shares of the company's stock after selling 63,079 shares during the quarter. Readystate Asset Management LP owned 0.47% of Janux Therapeutics worth $7,467,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC raised its position in Janux Therapeutics by 1,574.0% in the first quarter. GAMMA Investing LLC now owns 1,674 shares of the company's stock worth $45,000 after acquiring an additional 1,574 shares in the last quarter. Russell Investments Group Ltd. raised its position in Janux Therapeutics by 77.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock worth $54,000 after acquiring an additional 442 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Janux Therapeutics in the fourth quarter worth $59,000. FNY Investment Advisers LLC raised its position in Janux Therapeutics by 6,928.6% in the first quarter. FNY Investment Advisers LLC now owns 2,460 shares of the company's stock worth $66,000 after acquiring an additional 2,425 shares in the last quarter. Finally, KBC Group NV purchased a new position in Janux Therapeutics in the first quarter worth $66,000. 75.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial assumed 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. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $91.89.

Insider Buying and Selling at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 3,333 shares of Janux Therapeutics stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $32.03, for a total transaction of $106,755.99. Following the completion of the sale, the insider owned 82,139 shares in the company, valued at approximately $2,630,912.17. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.10% of the stock is currently owned by corporate insiders.

Janux Therapeutics Trading Down 0.0%

Shares of JANX stock traded down $0.01 during mid-day trading on Friday, reaching $25.96. The stock had a trading volume of 1,322,750 shares, compared to its average volume of 949,258. Janux Therapeutics, Inc. has a 12-month low of $22.48 and a 12-month high of $71.71. The company has a market cap of $1.54 billion, a P/E ratio of -19.09 and a beta of 2.86. The business has a 50-day simple moving average of $24.77 and a 200 day simple moving average of $30.69.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.38) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.05. Research analysts anticipate 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.