Freestone Grove Partners LP Invests $364,000 in Janux Therapeutics, Inc. (NASDAQ:JANX)

Freestone Grove Partners LP purchased a new position in Janux Therapeutics, Inc. (NASDAQ:JANX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,807 shares of the company’s stock, valued at approximately $364,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Janux Therapeutics by 10.8% during the fourth 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 during the period. Adage Capital Partners GP L.L.C. increased its holdings in Janux Therapeutics by 47.6% during the 4th 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 during the period. Vanguard Group Inc. raised 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 valued at $114,379,000 after purchasing an additional 288,402 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Janux Therapeutics by 80.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,267,803 shares of the company’s stock worth $67,878,000 after buying an additional 564,322 shares during the period. Finally, Price T Rowe Associates Inc. MD grew 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 buying an additional 950,557 shares in the last quarter. Institutional investors own 75.39% of the company’s stock.

Janux Therapeutics Price Performance

Shares of JANX stock opened at $32.88 on Monday. The stock’s fifty day moving average price is $29.80 and its 200 day moving average price is $42.47. Janux Therapeutics, Inc. has a 1-year low of $22.52 and a 1-year high of $71.71. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -28.10 and a beta of 3.27.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.36) earnings per share for the quarter, topping 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, equities research analysts anticipate that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. bought 110,206 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the director now directly owns 10,141,287 shares of the company’s stock, valued at $314,582,722.74. This trade represents a 1.10 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Hollman Meyer sold 3,333 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $32.03, for a total value of $106,755.99. Following the completion of the sale, the insider now owns 82,139 shares in the company, valued at approximately $2,630,912.17. This represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,001 shares of company stock valued at $313,964. Insiders own 29.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JANX. William Blair reiterated 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 objective on shares of Janux Therapeutics in a report on Monday, March 3rd. Scotiabank lowered 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. Finally, Wedbush reiterated an “outperform” rating and issued a $76.00 price target (up from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $95.25.

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.