10 Largest Biotech Hedge Funds and Their Top Stock Picks

6. Janux Therapeutics, Inc. (NASDAQ:JANX)

Number of Hedge Fund Investors  in Q2 2024: 31

RA Capital’s Q2 2024 Investment Stake: $383 million

Janux Therapeutics, Inc. (NASDAQ:JANX) is a small California based biotechnology company that is developing treatments for prostate, colorectal, head, lung, and other cancers. A pre commercial company, its key product under development is the JANX007 drug for pancreatic cancer. JANX007 is currently in the Phase 1 human clinical trial for pancreatic cancer, and Janux Therapeutics, Inc. (NASDAQ:JANX) is currently enrolling patients. The firm’s second under development drug is JANX008, which is a more diversified tumor drug that seeks to help patients with all of the cancers, except pancreatic cancers, that we’ve mentioned above. Janux Therapeutics, Inc. (NASDAQ:JANX) is also working with MERCK, and successful milestone payments from the pharma giant could inject tailwinds into the stock along with positive trial data.Yet, there might be trouble brewing under the hood, as hedge fund Orbimed advisors sold 2.3 million Janux Therapeutics, Inc. (NASDAQ:JANX) shares in June and July which represented 4.4% of the shares outstanding.