HighVista Strategies LLC Makes New Investment in Janux Therapeutics, Inc. (NASDAQ:JANX)

HighVista Strategies LLC acquired a new stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 23,332 shares of the company’s stock, valued at approximately $977,000.

A number of other hedge funds also recently bought and sold shares of JANX. Summit Securities Group LLC acquired a new stake in shares of Janux Therapeutics during the second quarter valued at approximately $29,000. Amalgamated Bank raised its stake in Janux Therapeutics by 61.1% during the 2nd quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after purchasing an additional 368 shares during the period. Plato Investment Management Ltd purchased a new stake in shares of Janux Therapeutics in the second quarter valued at $42,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Janux Therapeutics in the second quarter worth $151,000. Finally, DNB Asset Management AS purchased a new position in shares of Janux Therapeutics during the second quarter valued at $221,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JANX. Stifel Nicolaus began coverage on Janux Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $70.00 price objective for the company. Scotiabank reduced their price target on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a report on Friday, August 9th. HC Wainwright restated a “buy” rating and issued a $63.00 price objective on shares of Janux Therapeutics in a report on Monday, August 19th. Wedbush reaffirmed an “outperform” rating and set a $74.00 price objective on shares of Janux Therapeutics in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 target price on shares of Janux Therapeutics in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Janux Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.13.

Insider Activity

In related news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the business’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 completion of the transaction, the insider now owns 3,162,851 shares of the company’s stock, valued at approximately $132,839,742. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 268,578 shares of company stock valued at $12,071,151. 35.40% of the stock is owned by insiders.

Janux Therapeutics Stock Performance

JANX opened at $50.20 on Monday. Janux Therapeutics, Inc. has a twelve month low of $5.65 and a twelve month high of $65.60. The firm has a market cap of $2.60 billion, a P/E ratio of -41.15 and a beta of 3.57. The business has a 50 day moving average price of $43.55 and a 200 day moving average price of $44.29.

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

Janux Therapeutics Company 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.