Tri Locum Partners LP Makes New $12.66 Million Investment in Janux Therapeutics, Inc. (NASDAQ:JANX)

Tri Locum Partners LP purchased a new position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 236,407 shares of the company's stock, valued at approximately $12,657,000. Janux Therapeutics makes up 2.6% of Tri Locum Partners LP's portfolio, making the stock its 17th largest position. Tri Locum Partners LP owned about 0.45% of Janux Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Adage Capital Partners GP L.L.C. increased its holdings 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 valued at $163,926,000 after buying an additional 986,750 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of 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 acquiring an additional 950,557 shares in the last quarter. FMR LLC boosted its holdings in Janux Therapeutics by 10.8% in the fourth quarter. FMR LLC now owns 8,669,941 shares of the company's stock valued at $464,189,000 after purchasing an additional 845,266 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in Janux Therapeutics by 80.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,267,803 shares of the company's stock valued at $67,878,000 after purchasing an additional 564,322 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Janux Therapeutics by 3,592.9% during the fourth quarter. Wellington Management Group LLP now owns 535,396 shares of the company's stock worth $28,665,000 after purchasing an additional 520,898 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Scotiabank reduced their target price on Janux Therapeutics from $62.00 to $41.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. William Blair reaffirmed an "outperform" rating on shares of Janux Therapeutics in a report on Friday, January 10th. HC Wainwright reissued a "buy" rating and set a $70.00 price target on shares of Janux Therapeutics in a report on Monday, March 3rd. Finally, Wedbush reaffirmed an "outperform" rating and set a $76.00 price objective (up from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. One research 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 stock. Based on data from MarketBeat.com, Janux Therapeutics has a consensus rating of "Buy" and a consensus price target of $95.25.

Insiders Place Their Bets

In related news, insider Andrew Hollman Meyer sold 3,334 shares of Janux Therapeutics stock in a transaction on Monday, April 21st. The stock was sold at an average price of $30.00, for a total transaction of $100,020.00. Following the completion of the transaction, the insider now directly owns 82,139 shares of the company's stock, valued at approximately $2,464,170. The trade was a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ra Capital Management, L.P. purchased 110,206 shares of the company's stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $31.02 per share, with a total value of $3,418,590.12. Following the transaction, the director now owns 10,141,287 shares of the company's stock, valued at approximately $314,582,722.74. This represents a 1.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 10,002 shares of company stock worth $348,203. 29.40% of the stock is owned by company insiders.

Janux Therapeutics Price Performance

Shares of JANX stock traded up $1.87 during trading hours on Friday, reaching $33.92. 459,081 shares of the company's stock were exchanged, compared to its average volume of 847,953. The company's 50 day moving average is $29.80 and its two-hundred day moving average is $42.70. The company has a market cap of $2.01 billion, a P/E ratio of -28.94 and a beta of 3.27. Janux Therapeutics, Inc. has a 1 year low of $22.52 and a 1 year high of $71.71.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.13. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. As a group, analysts predict 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.