Algert Global LLC Makes New $1.11 Million Investment in Janux Therapeutics, Inc. (NASDAQ:JANX)

Algert Global LLC bought a new position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 24,472 shares of the company’s stock, valued at approximately $1,112,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Plato Investment Management Ltd raised its position in shares of 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 buying an additional 187 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Janux Therapeutics by 21.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock valued at $87,000 after buying an additional 339 shares during the last quarter. Amalgamated Bank raised its position in shares of Janux Therapeutics by 61.1% during the second quarter. Amalgamated Bank now owns 970 shares of the company’s stock valued at $41,000 after buying an additional 368 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Janux Therapeutics during the second quarter valued at about $29,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Janux Therapeutics during the second quarter valued at about $151,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

Insider Activity

In related news, insider Andrew Hollman Meyer sold 50,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $45.96, for a total value of $2,298,000.00. Following the transaction, the insider now directly owns 67,592 shares in the company, valued at $3,106,528.32. This represents a 42.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were 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 in the company, valued at $132,839,742. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 445,610 shares of company stock valued at $20,578,666 over the last three months. 29.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JANX. Leerink Partnrs raised shares of Janux Therapeutics to a “strong-buy” rating in a research report on Friday, November 22nd. Scotiabank lowered their target price on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research note on Thursday, November 14th. Leerink Partners initiated coverage on shares of Janux Therapeutics in a research note on Friday, November 22nd. They issued an “outperform” rating and a $79.00 target price on the stock. Finally, Stifel Nicolaus initiated coverage on shares of Janux Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $67.70.

Janux Therapeutics Trading Down 3.4 %

Shares of Janux Therapeutics stock opened at $46.39 on Friday. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -39.65 and a beta of 3.52. Janux Therapeutics, Inc. has a 1-year low of $7.79 and a 1-year high of $65.60. The firm’s 50-day moving average price is $49.98 and its two-hundred day moving average price is $45.83.

Janux Therapeutics (NASDAQ:JANX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate 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 company had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics’s quarterly revenue was down 82.6% compared to the same quarter last year. As a group, equities research analysts predict 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.