Quest Partners LLC Boosts Holdings in Janux Therapeutics, Inc. (NASDAQ:JANX)

Quest Partners LLC raised its holdings in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) by 307.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,795 shares of the company’s stock after buying an additional 4,372 shares during the period. Quest Partners LLC’s holdings in Janux Therapeutics were worth $243,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in JANX. Summit Securities Group LLC purchased a new stake in shares of Janux Therapeutics in the 2nd quarter worth $29,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Janux Therapeutics in the second quarter worth $151,000. China Universal Asset Management Co. Ltd. raised its position in shares of Janux Therapeutics by 82.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,743 shares of the company’s stock valued at $367,000 after purchasing an additional 4,400 shares during the period. DNB Asset Management AS purchased a new position in shares of Janux Therapeutics during the 2nd quarter valued at $221,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Janux Therapeutics during the 2nd quarter valued at $237,000. 75.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Scotiabank lowered their target price on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. Wedbush restated an “outperform” rating and set a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $63.00 target price on shares of Janux Therapeutics in a research note on Monday, August 19th. Stifel Nicolaus assumed coverage on shares of Janux Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $70.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.13.

Insider Activity at Janux Therapeutics

In other news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $42.00, for a total value of $4,551,330.00. Following the completion of the sale, the insider now directly owns 3,162,851 shares of the company’s stock, valued at approximately $132,839,742. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 268,578 shares of company stock valued at $12,071,151. Insiders own 35.40% of the company’s stock.

Janux Therapeutics Trading Up 7.5 %

Shares of Janux Therapeutics stock opened at $50.01 on Friday. The stock has a 50 day moving average of $42.78 and a 200 day moving average of $44.15. Janux Therapeutics, Inc. has a 12 month low of $5.65 and a 12 month high of $65.60. The firm has a market cap of $2.61 billion, a PE ratio of -40.99 and a beta of 3.57.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. Janux Therapeutics had a negative return on equity of 8.78% and a negative net margin of 291.17%. The company had revenue of $8.90 million during the quarter, compared to analyst estimates of $0.77 million. Janux Therapeutics’s revenue was up 709.1% on a year-over-year basis. As a group, equities research analysts forecast that Janux Therapeutics, Inc. will post -1.18 earnings per share for the current fiscal year.

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.