Prosight Management LP Boosts Position in Janux Therapeutics, Inc. (NASDAQ:JANX)

Prosight Management LP raised its stake in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 60.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 329,768 shares of the company's stock after buying an additional 124,768 shares during the quarter. Janux Therapeutics comprises approximately 4.9% of Prosight Management LP's investment portfolio, making the stock its 10th biggest holding. Prosight Management LP owned 0.63% of Janux Therapeutics worth $17,656,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in shares of Janux Therapeutics by 77.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock valued at $54,000 after purchasing an additional 442 shares during the period. Avanza Fonder AB bought a new stake in Janux Therapeutics in the 4th quarter valued at approximately $139,000. Meeder Asset Management Inc. bought a new position in shares of Janux Therapeutics during the 4th quarter worth approximately $159,000. Tower Research Capital LLC TRC raised its holdings in shares of Janux Therapeutics by 878.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company's stock valued at $205,000 after purchasing an additional 3,436 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Janux Therapeutics in the fourth quarter worth $221,000. Institutional investors own 75.39% of the company's stock.

Analyst Upgrades and Downgrades

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

Janux Therapeutics Price Performance

JANX stock traded up $0.17 during mid-day trading on Tuesday, reaching $24.34. 341,323 shares of the company traded hands, compared to its average volume of 866,733. Janux Therapeutics, Inc. has a 52-week low of $22.48 and a 52-week high of $71.71. The company has a market capitalization of $1.44 billion, a P/E ratio of -20.77 and a beta of 3.24. The company has a fifty day moving average price of $28.50 and a 200-day moving average price of $40.33.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate 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%. As a group, analysts forecast that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Insider Activity at Janux Therapeutics

In related news, Director Ra Capital Management, L.P. acquired 110,206 shares of the firm's stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $31.02 per share, for a total transaction of $3,418,590.12. Following the acquisition, the director now owns 10,141,287 shares of the company's stock, valued at $314,582,722.74. This trade represents a 1.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew Hollman Meyer sold 3,334 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $32.15, for a total value of $107,188.10. Following the completion of the transaction, the insider now directly owns 82,139 shares of the company's stock, valued at $2,640,768.85. This represents a 3.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,001 shares of company stock valued at $313,964 over the last 90 days. 8.10% of the stock is owned by insiders.

Janux Therapeutics Company 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.