Orbimed Advisors LLC Sells 970,826 Shares of Janux Therapeutics, Inc. $JANX

Orbimed Advisors LLC trimmed its stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) by 49.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 983,600 shares of the company’s stock after selling 970,826 shares during the period. Orbimed Advisors LLC owned approximately 1.61% of Janux Therapeutics worth $13,672,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of JANX. California State Teachers Retirement System increased its position in shares of Janux Therapeutics by 1.1% during the 2nd quarter. California State Teachers Retirement System now owns 37,139 shares of the company’s stock valued at $858,000 after purchasing an additional 404 shares during the last quarter. Nuveen LLC lifted its stake in shares of Janux Therapeutics by 0.8% during the 4th quarter. Nuveen LLC now owns 96,416 shares of the company’s stock valued at $1,331,000 after buying an additional 787 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Janux Therapeutics by 18.3% in the fourth quarter. ProShare Advisors LLC now owns 10,495 shares of the company’s stock worth $145,000 after acquiring an additional 1,621 shares during the period. Kennedy Capital Management LLC boosted its stake in Janux Therapeutics by 20.0% in the 3rd quarter. Kennedy Capital Management LLC now owns 11,413 shares of the company’s stock worth $279,000 after purchasing an additional 1,905 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Janux Therapeutics by 11.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,866 shares of the company’s stock valued at $551,000 after acquiring an additional 2,463 shares in the last quarter. Hedge funds and other institutional investors own 75.39% of the company’s stock.

Janux Therapeutics Stock Performance

NASDAQ:JANX opened at $15.33 on Monday. The firm has a fifty day simple moving average of $14.81 and a 200-day simple moving average of $14.33. The company has a market capitalization of $934.82 million, a P/E ratio of -8.33 and a beta of 2.52. Janux Therapeutics, Inc. has a 12 month low of $12.12 and a 12 month high of $35.34.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.13. The firm had revenue of $3.73 million during the quarter, compared to analysts’ expectations of $4.36 million. Equities analysts forecast that Janux Therapeutics, Inc. will post -1.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Guggenheim reduced their price objective on Janux Therapeutics from $68.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Barclays downgraded Janux Therapeutics from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $29.00 to $14.00 in a report on Monday, April 20th. Piper Sandler reduced their price target on shares of Janux Therapeutics from $30.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Janux Therapeutics in a research note on Monday, July 20th. Finally, UBS Group cut Janux Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $57.00 to $15.00 in a research report on Wednesday, April 15th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.08.

Insider Transactions at Janux Therapeutics

In other news, VP Maria Dobek sold 2,038 shares of Janux Therapeutics stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $14.17, for a total transaction of $28,878.46. Following the completion of the transaction, the vice president directly owned 32,270 shares of the company’s stock, valued at $457,265.90. The trade was a 5.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Janeen Noel Doyle sold 4,059 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $14.03, for a total transaction of $56,947.77. Following the completion of the transaction, the insider owned 75,941 shares of the company’s stock, valued at approximately $1,065,452.23. This trade represents a 5.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 7.90% of the company’s stock.

About Janux Therapeutics

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.