Quest Partners LLC Cuts Position in Janux Therapeutics, Inc. (NASDAQ:JANX)

Quest Partners LLC reduced its stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) by 38.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,538 shares of the company’s stock after selling 2,257 shares during the period. Quest Partners LLC’s holdings in Janux Therapeutics were worth $161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in JANX. Vanguard Group Inc. boosted its holdings in Janux Therapeutics by 38.6% during the first quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after buying an additional 378,477 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Janux Therapeutics in the 1st quarter valued at approximately $739,000. Virtu Financial LLC acquired a new position in Janux Therapeutics during the first quarter worth $609,000. DNB Asset Management AS acquired a new position in Janux Therapeutics during the second quarter worth $221,000. Finally, SG Americas Securities LLC purchased a new stake in Janux Therapeutics during the second quarter worth $1,452,000. 75.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Janux Therapeutics

In other news, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $42.00, for a total value of $4,551,330.00. Following the transaction, the insider now directly owns 3,162,851 shares in the company, valued at $132,839,742. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ra Capital Management, L.P. acquired 1,200,000 shares of Janux Therapeutics stock in a transaction dated Friday, October 18th. The stock was purchased at an average cost of $44.75 per share, for a total transaction of $53,700,000.00. Following the completion of the purchase, the director now directly owns 9,317,246 shares in the company, valued at approximately $416,946,758.50. This represents a 14.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 445,610 shares of company stock worth $20,578,666 in the last quarter. 29.40% of the stock is owned by insiders.

Janux Therapeutics Trading Down 3.4 %

Shares of NASDAQ:JANX opened at $46.39 on Friday. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -39.65 and a beta of 3.52. The stock’s 50-day moving average price is $49.98 and its two-hundred day moving average price is $45.83. Janux Therapeutics, Inc. has a 12-month low of $7.79 and a 12-month high of $65.60.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.18). Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The company had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics’s revenue was down 82.6% compared to the same quarter last year. As a group, research analysts forecast that Janux Therapeutics, Inc. will post -1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group assumed coverage on shares of Janux Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price objective on the stock. Scotiabank dropped their price objective on shares of Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. Wedbush reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Janux Therapeutics in a research note on Thursday, August 8th. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research report on Thursday, November 14th. Finally, Stifel Nicolaus initiated coverage on Janux Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $70.00 price target for the company. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $67.70.

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.