The Manufacturers Life Insurance Company Acquires 32,917 Shares of Janux Therapeutics, Inc. (NASDAQ:JANX)

The Manufacturers Life Insurance Company raised its stake in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 107.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,512 shares of the company's stock after purchasing an additional 32,917 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of Janux Therapeutics worth $3,400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JANX. FMR LLC boosted its holdings in shares of Janux Therapeutics by 10.8% in the 4th quarter. FMR LLC now owns 8,669,941 shares of the company's stock worth $464,189,000 after acquiring an additional 845,266 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Janux Therapeutics by 47.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,061,750 shares of the company's stock worth $163,926,000 after purchasing an additional 986,750 shares in the last quarter. Vanguard Group Inc. lifted its position in Janux Therapeutics by 15.6% during the 4th quarter. Vanguard Group Inc. now owns 2,136,332 shares of the company's stock worth $114,379,000 after buying an additional 288,402 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Janux Therapeutics by 80.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,267,803 shares of the company's stock worth $67,878,000 after acquiring an additional 564,322 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Janux Therapeutics by 596.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,109,978 shares of the company's stock worth $59,429,000 after buying an additional 950,557 shares in the last quarter. Institutional investors own 75.39% of the company's stock.

Wall Street Analysts Forecast Growth

JANX has been the topic of several analyst reports. Wedbush restated an "outperform" rating and issued a $76.00 price objective (up from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. HC Wainwright restated a "buy" rating and set 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 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. One research 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's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $95.25.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, insider Andrew Hollman Meyer sold 3,334 shares of the stock in a transaction on Monday, March 3rd. The stock was 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 in the company, valued at $2,640,768.85. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ra Capital Management, L.P. acquired 341,742 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was acquired 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 in the company, valued at approximately $295,951,392.32. This trade represents a 3.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 10,001 shares of company stock worth $313,964 over the last 90 days. Company insiders own 8.10% of the company's stock.

Janux Therapeutics Price Performance

Shares of JANX traded up $0.66 during midday trading on Thursday, hitting $23.28. The stock had a trading volume of 328,857 shares, compared to its average volume of 861,729. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -19.88 and a beta of 3.24. The company has a 50 day simple moving average of $28.89 and a two-hundred day simple moving average of $41.16. Janux Therapeutics, Inc. has a twelve month low of $22.48 and a twelve month high of $71.71.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted 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%. Analysts forecast that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal 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.