Bank of America Corp DE Boosts Stake in Janux Therapeutics, Inc. $JANX

Bank of America Corp DE raised its stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 8.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 801,646 shares of the company's stock after acquiring an additional 63,316 shares during the quarter. Bank of America Corp DE owned approximately 1.31% of Janux Therapeutics worth $11,143,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rhenman & Partners Asset Management AB lifted its position in shares of Janux Therapeutics by 125.1% during the fourth quarter. Rhenman & Partners Asset Management AB now owns 225,377 shares of the company's stock valued at $3,110,000 after buying an additional 125,250 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Janux Therapeutics in the 1st quarter worth approximately $1,946,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Janux Therapeutics in the 4th quarter worth approximately $536,000. BML Capital Management LLC bought a new position in shares of Janux Therapeutics during the 1st quarter worth approximately $2,154,000. Finally, Rangeley Capital LLC raised its stake in shares of Janux Therapeutics by 382.0% during the 1st quarter. Rangeley Capital LLC now owns 122,500 shares of the company's stock worth $1,703,000 after acquiring an additional 97,086 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JANX. Guggenheim dropped 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. Evercore set a $22.00 price target on Janux Therapeutics in a research note on Monday, May 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Janux Therapeutics in a report on Monday, July 20th. Piper Sandler dropped their price target on Janux Therapeutics from $30.00 to $26.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Finally, Wedbush cut their price objective on shares of Janux Therapeutics from $45.00 to $36.00 and set an "outperform" rating on the stock in a report on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Janux Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $37.58.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, insider Janeen Noel Doyle sold 4,059 shares of the company's 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 completion of the transaction, the insider directly owned 75,941 shares in the company, valued at approximately $1,065,452.23. This represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 7.90% of the stock is currently owned by insiders.

Janux Therapeutics Stock Up 0.6%

Janux Therapeutics stock opened at $17.39 on Friday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -10.60 and a beta of 2.50. Janux Therapeutics, Inc. has a 52 week low of $12.12 and a 52 week high of $35.34. The business's 50-day moving average price is $15.66 and its 200 day moving average price is $14.63.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.10). The company had revenue of $10.27 million for the quarter, compared to analysts' expectations of $19.07 million. Equities analysts expect that Janux Therapeutics, Inc. will post -1.76 EPS for the current year.

About Janux Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source