Ally Bridge Group NY LLC Takes $4.94 Million Position in Janux Therapeutics, Inc. (NASDAQ:JANX)

Ally Bridge Group NY LLC acquired a new stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 108,811 shares of the company’s stock, valued at approximately $4,943,000. Janux Therapeutics makes up about 2.6% of Ally Bridge Group NY LLC’s investment portfolio, making the stock its 20th largest position. Ally Bridge Group NY LLC owned 0.21% of Janux Therapeutics as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD bought a new stake in Janux Therapeutics during the 1st quarter valued at $739,000. Virtu Financial LLC bought a new stake in Janux Therapeutics during the first quarter valued at about $609,000. Vanguard Group Inc. boosted its position in Janux Therapeutics by 38.6% during the first quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock valued at $51,127,000 after purchasing an additional 378,477 shares in the last quarter. Blue Owl Capital Holdings LP purchased a new position in Janux Therapeutics in the second quarter valued at about $1,676,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Janux Therapeutics by 21.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,887 shares of the company’s stock worth $87,000 after purchasing an additional 339 shares in the last quarter. 75.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JANX. Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a report on Friday, November 22nd. Stifel Nicolaus started 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 for the company. Scotiabank reduced their price target on Janux Therapeutics from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. Leerink Partners began coverage on Janux Therapeutics in a research report on Friday, November 22nd. They issued an “outperform” rating and a $79.00 price objective for the company. Finally, UBS Group started coverage on Janux Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $69.00 target price on the stock. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $67.70.

Janux Therapeutics Stock Performance

Shares of JANX stock opened at $46.39 on Thursday. Janux Therapeutics, Inc. has a fifty-two week low of $7.79 and a fifty-two week high of $65.60. The firm has a market capitalization of $2.43 billion, a PE ratio of -39.65 and a beta of 3.52. The stock’s 50-day simple moving average is $50.02 and its 200-day simple moving average is $45.82.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share 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 business had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. The company’s revenue was down 82.6% on a year-over-year basis. Sell-side analysts forecast that Janux Therapeutics, Inc. will post -1.35 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction of $4,551,330.00. Following the sale, the insider now directly owns 3,162,851 shares of the company’s stock, valued at $132,839,742. This trade represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Hollman Meyer sold 50,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 67,592 shares of the company’s stock, valued at $3,106,528.32. The trade was a 42.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 445,610 shares of company stock valued at $20,578,666 over the last 90 days. Insiders own 29.40% of the company’s stock.

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.