Franklin Resources Inc. Grows Stock Holdings in Janux Therapeutics, Inc. (NASDAQ:JANX)

Franklin Resources Inc. raised its stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 2,519.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 497,287 shares of the company's stock after purchasing an additional 478,304 shares during the period. Franklin Resources Inc. owned 0.95% of Janux Therapeutics worth $26,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Avanza Fonder AB bought a new stake in Janux Therapeutics in the fourth quarter worth $139,000. Meeder Asset Management Inc. purchased a new position in shares of Janux Therapeutics in the 4th quarter worth $159,000. Chicago Capital LLC bought a new stake in shares of Janux Therapeutics in the 4th quarter worth about $230,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Janux Therapeutics during the 3rd quarter valued at about $317,000. Finally, Virtu Financial LLC raised its position in shares of Janux Therapeutics by 48.0% during the 3rd quarter. Virtu Financial LLC now owns 7,463 shares of the company's stock valued at $339,000 after buying an additional 2,419 shares in the last quarter. Institutional investors own 75.39% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. William Blair reissued an "outperform" rating on shares of Janux Therapeutics in a research note on Friday, January 10th. HC Wainwright restated a "buy" rating and set a $70.00 price target on shares of Janux Therapeutics in a report on Monday, March 3rd. Lifesci Capital upgraded Janux Therapeutics to a "strong-buy" rating in a research report on Friday, December 27th. Scotiabank cut their price objective on shares of Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating on the stock in a research report on Friday, February 28th. Finally, Wedbush reaffirmed an "outperform" rating and set a $76.00 price target (up from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Janux Therapeutics currently has an average rating of "Buy" and an average price target of $92.44.

Janux Therapeutics Stock Up 7.2 %

JANX traded up $1.93 on Friday, reaching $28.80. 2,018,926 shares of the company traded hands, compared to its average volume of 858,288. The company has a market cap of $1.70 billion, a P/E ratio of -24.62 and a beta of 3.27. The firm has a fifty day simple moving average of $31.72 and a two-hundred day simple moving average of $44.16. Janux Therapeutics, Inc. has a one year low of $22.52 and a one year high of $71.71.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. On average, equities analysts forecast that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, Director Ra Capital Management, L.P. acquired 110,206 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $31.02 per share, with a total value of $3,418,590.12. Following the completion of the acquisition, the director now directly owns 10,141,287 shares in the company, valued at $314,582,722.74. This represents a 1.10 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Hollman Meyer sold 3,334 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.29, for a total value of $140,994.86. Following the sale, the insider now owns 82,139 shares of the company's stock, valued at approximately $3,473,658.31. This represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. 29.40% of the stock is currently owned by corporate 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.