Algert Global LLC Buys 667,492 Shares of Janux Therapeutics, Inc. $JANX

Key Points

• Algert Global increased its Janux Therapeutics position by 150.5% in the second quarter, purchasing 667,492 additional shares and bringing its holdings to 1.11 million shares, worth approximately $17.1 million.
• Janux reported weaker-than-expected quarterly results, with a loss of $0.35 per share versus the $0.25 consensus estimate and revenue of $10.27 million compared with $19.07 million expected.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $36.46 versus the stock’s reported $18.60 opening price, despite several recent target-price cuts.

Algert Global LLC lifted its position in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 150.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,110,889 shares of the company's stock after buying an additional 667,492 shares during the quarter. Algert Global LLC owned approximately 1.82% of Janux Therapeutics worth $17,063,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of JANX. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Janux Therapeutics during the 4th quarter valued at $34,000. Versant Capital Management Inc raised its position in shares of Janux Therapeutics by 42.8% in the second quarter. Versant Capital Management Inc now owns 2,615 shares of the company's stock worth $40,000 after buying an additional 784 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Janux Therapeutics in the fourth quarter worth $51,000. Osaic Holdings Inc. boosted its stake in Janux Therapeutics by 704.6% during the second quarter. Osaic Holdings Inc. now owns 3,468 shares of the company's stock valued at $80,000 after buying an additional 3,037 shares during the period. Finally, Quantbot Technologies LP boosted its stake in Janux Therapeutics by 2,290.0% during the second quarter. Quantbot Technologies LP now owns 5,497 shares of the company's stock valued at $84,000 after buying an additional 5,267 shares during the period. 75.39% of the stock is currently owned by institutional investors.

Janux Therapeutics Price Performance

Shares of JANX opened at $18.60 on Tuesday. The firm has a market cap of $1.14 billion, a P/E ratio of -11.34 and a beta of 2.50. The stock has a 50 day simple moving average of $15.76 and a two-hundred day simple moving average of $14.67. Janux Therapeutics, Inc. has a 1 year low of $12.12 and a 1 year high of $35.34.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its quarterly 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 business had revenue of $10.27 million for the quarter, compared to analyst estimates of $19.07 million. On average, equities analysts anticipate that Janux Therapeutics, Inc. will post -1.76 earnings per share for the current year.

Insider Activity

In related news, insider Janeen Noel Doyle sold 4,059 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $14.03, for a total transaction of $56,947.77. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.

Analyst Ratings Changes

A number of brokerages have weighed in 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 research note on Friday, August 7th. Piper Sandler dropped their price target on Janux Therapeutics from $30.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. JonesTrading cut their price objective on Janux Therapeutics from $50.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, April 28th. Wedbush cut their price objective on Janux Therapeutics from $45.00 to $36.00 and set an "outperform" rating for the company in a report on Friday, May 8th. Finally, Stifel Nicolaus set a $35.00 price objective on shares of Janux Therapeutics in a research report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $36.46.

Janux Therapeutics Company Profile

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.

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