Pictet Asset Management Holding SA Purchases New Stake in Janux Therapeutics, Inc. (NASDAQ:JANX)

Pictet Asset Management Holding SA acquired a new position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 384,797 shares of the company’s stock, valued at approximately $20,602,000. Pictet Asset Management Holding SA owned 0.73% of Janux Therapeutics as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in shares of Janux Therapeutics by 40.0% in the 3rd quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock valued at $114,587,000 after purchasing an additional 721,563 shares in the last quarter. Vanguard Group Inc. boosted its stake in Janux Therapeutics by 15.6% in the fourth quarter. Vanguard Group Inc. now owns 2,136,332 shares of the company’s stock valued at $114,379,000 after buying an additional 288,402 shares in the last quarter. Geode Capital Management LLC boosted its stake in Janux Therapeutics by 6.2% in the third quarter. Geode Capital Management LLC now owns 662,594 shares of the company’s stock valued at $30,107,000 after buying an additional 38,490 shares in the last quarter. Point72 Asset Management L.P. grew its position in Janux Therapeutics by 190.2% in the third quarter. Point72 Asset Management L.P. now owns 395,875 shares of the company’s stock valued at $17,985,000 after acquiring an additional 259,445 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Janux Therapeutics by 16.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 273,135 shares of the company’s stock worth $14,624,000 after acquiring an additional 38,944 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Janux Therapeutics news, Director Ra Capital Management, L.P. bought 341,742 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $30.64 per share, with a total value of $10,470,974.88. Following the completion of the purchase, the director now directly owns 9,658,988 shares of the company’s stock, valued at approximately $295,951,392.32. This trade represents a 3.67 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew Hollman Meyer sold 13,334 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $54.88, for a total value of $731,769.92. Following the completion of the transaction, the insider now directly owns 82,139 shares in the company, valued at approximately $4,507,788.32. This trade represents a 13.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,002 shares of company stock valued at $1,279,953 over the last quarter. Insiders own 29.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JANX shares. BTIG Research lifted their price target on shares of Janux Therapeutics from $82.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of Janux Therapeutics in a research note on Wednesday, December 11th. Stifel Nicolaus increased their price target on Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Scotiabank reduced their price objective on Janux Therapeutics from $62.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Finally, William Blair reiterated an “outperform” rating on shares of Janux Therapeutics in a research report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $92.44.

Janux Therapeutics Price Performance

Shares of JANX opened at $27.00 on Tuesday. The business has a 50-day moving average of $35.33 and a 200-day moving average of $45.87. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -23.08 and a beta of 3.23. Janux Therapeutics, Inc. has a 1 year low of $26.40 and a 1 year high of $71.71.

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

About Janux Therapeutics

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.