The Manufacturers Life Insurance Company Buys 6,547 Shares of Janux Therapeutics, Inc. (NASDAQ:JANX)

The Manufacturers Life Insurance Company grew its stake in Janux Therapeutics, Inc. (NASDAQ:JANX) by 27.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,595 shares of the company’s stock after acquiring an additional 6,547 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Janux Therapeutics were worth $1,390,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Algert Global LLC bought a new position in shares of Janux Therapeutics during the third quarter valued at $1,112,000. Charles Schwab Investment Management Inc. increased its position in Janux Therapeutics by 202.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock valued at $10,639,000 after acquiring an additional 156,675 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Janux Therapeutics during the third quarter valued at $368,000. Plato Investment Management Ltd increased its position in Janux Therapeutics by 18.7% during the third quarter. Plato Investment Management Ltd now owns 1,186 shares of the company’s stock valued at $54,000 after acquiring an additional 187 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Janux Therapeutics by 143.4% during the third quarter. Victory Capital Management Inc. now owns 29,745 shares of the company’s stock valued at $1,351,000 after acquiring an additional 17,525 shares during the last quarter. 75.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JANX. Scotiabank upped their price target on Janux Therapeutics from $42.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 4th. Leerink Partners upped their price target on Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. UBS Group began coverage on Janux Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target for the company. Stifel Nicolaus upped their price target on Janux Therapeutics from $70.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, HC Wainwright upped their price target on Janux Therapeutics from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. One 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $79.90.

Insider Activity at Janux Therapeutics

In related news, major shareholder Ventures Xi L.P. Avalon sold 158,031 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $47.00, for a total value of $7,427,457.00. Following the completion of the transaction, the insider now directly owns 2,959,175 shares in the company, valued at approximately $139,081,225. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Hollman Meyer sold 50,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $45.96, for a total value of $2,298,000.00. Following the completion of the transaction, the insider now owns 67,592 shares of the company’s stock, valued at $3,106,528.32. The trade was a 42.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 350,063 shares of company stock valued at $16,939,972. 29.40% of the stock is currently owned by insiders.

Janux Therapeutics Stock Up 1.2 %

Shares of Janux Therapeutics stock opened at $62.36 on Wednesday. Janux Therapeutics, Inc. has a twelve month low of $7.79 and a twelve month high of $71.71. The business has a 50-day moving average price of $51.66 and a 200 day moving average price of $46.48. The firm has a market cap of $3.27 billion, a PE ratio of -53.30 and a beta of 3.30.

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