Readystate Asset Management LP Buys Shares of 32,335 Janux Therapeutics, Inc. (NASDAQ:JANX)

Readystate Asset Management LP purchased a new position in Janux Therapeutics, Inc. (NASDAQ:JANX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 32,335 shares of the company’s stock, valued at approximately $1,469,000. Readystate Asset Management LP owned about 0.06% of Janux Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of JANX. Vanguard Group Inc. grew its position in Janux Therapeutics by 38.6% in the first quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after acquiring an additional 378,477 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in Janux Therapeutics in the 1st quarter worth $739,000. DNB Asset Management AS bought a new stake in Janux Therapeutics during the second quarter valued at about $221,000. SG Americas Securities LLC acquired a new stake in shares of Janux Therapeutics in the second quarter valued at about $1,452,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Janux Therapeutics by 136.3% in the second quarter. Bank of New York Mellon Corp now owns 115,027 shares of the company’s stock worth $4,818,000 after purchasing an additional 66,340 shares during the period. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

Janux Therapeutics Stock Performance

Shares of JANX opened at $66.84 on Thursday. The company has a 50-day moving average price of $49.83 and a two-hundred day moving average price of $45.81. Janux Therapeutics, Inc. has a 12 month low of $7.79 and a 12 month high of $71.25.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The company had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. Janux Therapeutics’s revenue was down 82.6% on a year-over-year basis. Analysts expect that Janux Therapeutics, Inc. will post -1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a report on Thursday, August 8th. HC Wainwright raised their price objective on shares of Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday. William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a research note on Tuesday. UBS Group assumed coverage on shares of Janux Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target on the stock. Finally, Scotiabank upped their price objective on shares of Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Janux Therapeutics presently has an average rating of “Buy” and an average price target of $79.90.

Insiders Place Their Bets

In other Janux Therapeutics news, CEO David Alan Campbell sold 25,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the sale, the chief executive officer now directly owns 307,054 shares of the company’s stock, valued at approximately $14,219,670.74. This represents a 7.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $42.00, for a total transaction of $4,551,330.00. Following the sale, the insider now directly owns 3,162,851 shares in the company, valued at $132,839,742. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 460,610 shares of company stock worth $21,583,666 over the last three months. 29.40% of the stock is currently owned by corporate insiders.

Janux Therapeutics 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.