Geode Capital Management LLC Increases Stake in Janux Therapeutics, Inc. (NASDAQ:JANX)

Geode Capital Management LLC grew its position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 714,956 shares of the company’s stock after acquiring an additional 52,362 shares during the quarter. Geode Capital Management LLC’s holdings in Janux Therapeutics were worth $38,288,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Franklin Resources Inc. boosted its holdings in Janux Therapeutics by 2,519.6% in the 4th quarter. Franklin Resources Inc. now owns 497,287 shares of the company’s stock worth $26,625,000 after acquiring an additional 478,304 shares during the period. Meeder Asset Management Inc. acquired a new position in Janux Therapeutics in the 4th quarter worth $159,000. Wellington Management Group LLP boosted its position in Janux Therapeutics by 3,592.9% in the 4th quarter. Wellington Management Group LLP now owns 535,396 shares of the company’s stock valued at $28,665,000 after buying an additional 520,898 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Janux Therapeutics by 111.2% in the fourth quarter. Schroder Investment Management Group now owns 156,874 shares of the company’s stock worth $8,236,000 after acquiring an additional 82,601 shares in the last quarter. Finally, Pictet Asset Management Holding SA purchased a new position in Janux Therapeutics in the fourth quarter valued at about $20,602,000. Hedge funds and other institutional investors own 75.39% of the company’s stock.

Insider Buying and Selling at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 3,334 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.29, for a total transaction of $140,994.86. Following the sale, the insider now owns 82,139 shares of the company’s stock, valued at $3,473,658.31. The trade was a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ra Capital Management, L.P. purchased 341,742 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $30.64 per share, with a total value of $10,470,974.88. Following the completion of the purchase, the director now owns 9,658,988 shares in the company, valued at $295,951,392.32. This represents a 3.67 % increase in their position. The disclosure for this purchase can be found here. 29.40% of the stock is owned by corporate insiders.

Janux Therapeutics Trading Up 0.4 %

JANX opened at $29.06 on Wednesday. The business’s 50 day moving average is $31.18 and its 200-day moving average is $43.91. The stock has a market cap of $1.72 billion, a PE ratio of -24.84 and a beta of 3.27. Janux Therapeutics, Inc. has a twelve month low of $22.52 and a twelve month high of $71.71.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JANX. Scotiabank cut their target price on Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a report on Friday, January 10th. Wedbush reaffirmed an “outperform” rating and set a $76.00 target price (up previously from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $70.00 target price on shares of Janux Therapeutics in a research report on Monday, March 3rd. Finally, Lifesci Capital upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Friday, December 27th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Janux Therapeutics has an average rating of “Buy” and an average target price of $92.44.

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.