Janux Therapeutics, Inc. (NASDAQ:JANX) Shares Sold by Orbimed Advisors LLC

Orbimed Advisors LLC reduced its position in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 39.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 758,566 shares of the company's stock after selling 500,000 shares during the period. Orbimed Advisors LLC owned about 1.45% of Janux Therapeutics worth $40,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in JANX. Russell Investments Group Ltd. raised its position in shares of 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 during the period. Avanza Fonder AB acquired a new stake in shares of Janux Therapeutics during the 4th quarter valued at about $139,000. Meeder Asset Management Inc. purchased a new position in shares of Janux Therapeutics in the 4th quarter valued at about $159,000. Tower Research Capital LLC TRC raised its holdings in Janux Therapeutics by 878.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company's stock worth $205,000 after purchasing an additional 3,436 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new position in Janux Therapeutics during the fourth quarter worth approximately $221,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

Janux Therapeutics Stock Up 2.0%

Shares of NASDAQ JANX opened at $26.06 on Tuesday. The firm has a 50-day simple moving average of $29.16 and a 200-day simple moving average of $41.40. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -22.27 and a beta of 3.24. Janux Therapeutics, Inc. has a 52 week low of $22.52 and a 52 week high of $71.71.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.38) earnings per share for the quarter, topping analysts' consensus estimates of ($0.42) by $0.04. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. As a group, equities research analysts expect that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Insider Activity at Janux Therapeutics

In other news, insider Andrew Hollman Meyer sold 3,334 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.15, for a total transaction of $107,188.10. Following the transaction, the insider now owns 82,139 shares of the company's stock, valued at approximately $2,640,768.85. The trade was a 3.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ra Capital Management, L.P. acquired 341,742 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $30.64 per share, with a total value of $10,470,974.88. Following the acquisition, the director now directly owns 9,658,988 shares of the company's stock, valued at $295,951,392.32. This trade represents a 3.67% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 10,001 shares of company stock valued at $313,964. 8.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on JANX. HC Wainwright restated a "buy" rating and issued a $70.00 price objective on shares of Janux Therapeutics in a research report on Monday, March 3rd. Wedbush reissued an "outperform" rating and issued a $76.00 price target (up previously from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. Finally, Scotiabank decreased 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 report on Friday, February 28th. One equities research 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.com, the company has an average rating of "Buy" and an average target price of $95.25.

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.

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