Rhenman & Partners Asset Management AB Increases Stock Holdings in Janux Therapeutics, Inc. (NASDAQ:JANX)

Rhenman & Partners Asset Management AB boosted its stake in Janux Therapeutics, Inc. (NASDAQ:JANX) by 59.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 170,000 shares of the company’s stock after acquiring an additional 63,153 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Janux Therapeutics were worth $9,102,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Avanza Fonder AB acquired a new position in shares of Janux Therapeutics during the fourth quarter worth $139,000. Meeder Asset Management Inc. purchased a new stake in Janux Therapeutics during the 4th quarter worth $159,000. Chicago Capital LLC acquired a new position in Janux Therapeutics in the 4th quarter worth $230,000. Legato Capital Management LLC purchased a new position in Janux Therapeutics in the 4th quarter valued at about $347,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Janux Therapeutics during the third quarter valued at about $317,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

Insider Buying and Selling

In related news, insider Andrew Hollman Meyer sold 3,334 shares of Janux Therapeutics stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.29, for a total value of $140,994.86. Following the sale, the insider now directly owns 82,139 shares in the company, valued at $3,473,658.31. This trade represents a 3.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Alan Campbell sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the chief executive officer now directly owns 293,054 shares of the company’s stock, valued at $17,583,240. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,668 shares of company stock valued at $548,183. Insiders own 29.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Scotiabank cut their price target on Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Janux Therapeutics in a research report on Wednesday, December 11th. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Janux Therapeutics in a report on Monday, March 3rd. Finally, Wedbush reiterated an “outperform” rating and set a $76.00 price objective (up from $75.00) on shares of Janux Therapeutics in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $92.44.

Janux Therapeutics Stock Performance

Janux Therapeutics stock opened at $25.77 on Friday. Janux Therapeutics, Inc. has a 1 year low of $24.30 and a 1 year high of $71.71. The firm’s 50-day moving average is $34.09 and its 200-day moving average is $45.29. The company has a market cap of $1.52 billion, a P/E ratio of -22.03 and a beta of 3.23.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.13. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. As a group, sell-side analysts predict that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current year.

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.