910,460 Shares of Janux Therapeutics, Inc. $JANX Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 910,460 Janux Therapeutics shares worth approximately $13.99 million, gaining a 1.49% stake. Other institutions, including BlackRock and Algert Global, also increased or initiated positions; institutions collectively own 75.39% of the stock.
• Janux reported a quarterly loss of $0.35 per share, missing estimates of a $0.25 loss, while revenue of $10.27 million fell short of the $19.07 million consensus forecast.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $36.46 versus the stock’s recent $16.30 price, although several firms recently lowered their targets.

Bank of America Corp DE bought a new stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 910,460 shares of the company's stock, valued at approximately $13,985,000. Bank of America Corp DE owned 1.49% of Janux Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Janux Therapeutics in the second quarter valued at about $94,228,000. Irenic Capital Management LP bought a new position in shares of Janux Therapeutics in the 1st quarter worth approximately $10,645,000. Algert Global LLC lifted its stake in shares of Janux Therapeutics by 150.5% in the 2nd quarter. Algert Global LLC now owns 1,110,889 shares of the company's stock worth $17,063,000 after purchasing an additional 667,492 shares during the period. Jupiter Topco LLC purchased a new position in shares of Janux Therapeutics in the second quarter worth approximately $2,646,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Janux Therapeutics in the first quarter worth approximately $2,452,000. 75.39% of the stock is currently owned by institutional investors.

Janux Therapeutics Price Performance

Janux Therapeutics stock opened at $16.30 on Friday. Janux Therapeutics, Inc. has a 1-year low of $12.12 and a 1-year high of $35.34. The firm has a market capitalization of $996.58 million, a P/E ratio of -9.94 and a beta of 2.53. The company's 50-day moving average is $17.07 and its 200 day moving average is $15.44.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.10). The firm had revenue of $10.27 million during the quarter, compared to analysts' expectations of $19.07 million. Research analysts anticipate that Janux Therapeutics, Inc. will post -1.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on JANX. Guggenheim decreased their target price on Janux Therapeutics from $58.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Truist Financial reissued a "buy" rating and set a $26.00 price target (down from $80.00) on shares of Janux Therapeutics in a report on Thursday, June 25th. Stifel Nicolaus set a $35.00 price target on Janux Therapeutics in a research report on Friday, August 7th. Wolfe Research raised Janux Therapeutics from a "peer perform" rating to an "outperform" rating and set a $23.00 price objective on the stock in a research note on Monday, August 24th. Finally, TD Cowen raised Janux Therapeutics to a "strong-buy" rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.46.

About Janux Therapeutics

Janux Therapeutics, Inc NASDAQ: JANX is a clinical-stage biotechnology company developing immunotherapies designed to activate the body's T cells against cancer while limiting activity in healthy tissues. The company's approach is intended to address challenges associated with conventional T-cell engagers, including systemic toxicity and limited tolerability.

Janux's programs are based on its Tumor Activated T Cell Engager (TRACTr) platform. These therapeutic molecules are designed to remain inactive in circulation and become activated within the tumor microenvironment, where they can direct T cells to recognize and attack cancer cells.

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