First Light Asset Management LLC Takes $16.80 Million Position in Janux Therapeutics, Inc. (NASDAQ:JANX)

First Light Asset Management LLC acquired a new stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 313,782 shares of the company’s stock, valued at approximately $16,800,000. Janux Therapeutics accounts for approximately 1.6% of First Light Asset Management LLC’s portfolio, making the stock its 19th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JANX. Russell Investments Group Ltd. boosted its position in shares of Janux Therapeutics by 77.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company’s stock worth $54,000 after purchasing an additional 442 shares during the period. Avanza Fonder AB bought a new position in Janux Therapeutics in the 4th quarter worth $139,000. Meeder Asset Management Inc. purchased a new stake in Janux Therapeutics in the 4th quarter worth $159,000. Tower Research Capital LLC TRC raised its holdings in Janux Therapeutics by 878.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,827 shares of the company’s stock valued at $205,000 after acquiring an additional 3,436 shares during the period. Finally, Chicago Capital LLC purchased a new position in shares of Janux Therapeutics in the fourth quarter valued at about $230,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

Janux Therapeutics Price Performance

NASDAQ:JANX opened at $31.05 on Monday. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -26.54 and a beta of 3.27. The business has a 50 day simple moving average of $30.08 and a 200-day simple moving average of $43.08. Janux Therapeutics, Inc. has a 1 year low of $22.52 and a 1 year high of $71.71.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.36) EPS 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, analysts expect that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JANX shares. HC Wainwright reissued a “buy” rating and set a $70.00 target price on shares of Janux Therapeutics in a research note on Monday, March 3rd. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a report on Friday, January 10th. Scotiabank reduced their price target on shares of Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Finally, Wedbush reissued an “outperform” rating and set a $76.00 price objective (up previously from $75.00) on shares of Janux Therapeutics in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Janux Therapeutics has an average rating of “Buy” and a consensus target price of $95.25.

Insiders Place Their Bets

In related news, insider Andrew Hollman Meyer sold 3,334 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.15, for a total value of $107,188.10. Following the transaction, the insider now owns 82,139 shares of the company’s stock, valued at $2,640,768.85. This trade represents a 3.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. acquired 341,742 shares of the stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $30.64 per share, with a total value of $10,470,974.88. Following the completion of the transaction, the director now owns 9,658,988 shares in the company, valued at $295,951,392.32. This trade represents a 3.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 10,002 shares of company stock valued at $348,203 over the last 90 days. Insiders own 29.40% of the company’s stock.

Janux Therapeutics Company 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.