BlackRock Inc. Purchases New Shares in Janux Therapeutics, Inc. $JANX

Key Points

• BlackRock acquired 6.13 million Janux Therapeutics shares worth approximately $94.2 million, giving it a 10.06% stake. Institutional investors collectively own 75.39% of JANX.
• Janux reported a quarterly loss of $0.35 per share and $10.27 million in revenue, missing analyst estimates of a $0.25-per-share loss and $19.07 million in revenue.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and a $36.46 average price target, although targets have been reduced by some firms. JANX recently opened at $18.03, well below its 52-week high of $35.34.

BlackRock Inc. purchased a new position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,134,667 shares of the company's stock, valued at approximately $94,228,000. BlackRock Inc. owned about 10.06% of Janux Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in Janux Therapeutics by 103.8% during the fourth quarter. State Street Corp now owns 3,853,951 shares of the company's stock worth $53,185,000 after acquiring an additional 1,962,486 shares during the period. Prosight Management LP grew its stake in Janux Therapeutics by 176.5% in the 4th quarter. Prosight Management LP now owns 2,392,523 shares of the company's stock valued at $33,017,000 after purchasing an additional 1,527,173 shares during the period. Wellington Management Group LLP grew its stake in Janux Therapeutics by 129.5% in the 4th quarter. Wellington Management Group LLP now owns 1,610,186 shares of the company's stock valued at $22,221,000 after purchasing an additional 908,582 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Janux Therapeutics during the 4th quarter valued at $12,221,000. Finally, Alyeska Investment Group L.P. increased its position in shares of Janux Therapeutics by 206.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,301,089 shares of the company's stock valued at $17,955,000 after purchasing an additional 876,244 shares during the last quarter. 75.39% of the stock is owned by institutional investors.

Janux Therapeutics Price Performance

NASDAQ:JANX opened at $18.03 on Friday. Janux Therapeutics, Inc. has a 1 year low of $12.12 and a 1 year high of $35.34. The stock's fifty day moving average price is $16.12 and its two-hundred day moving average price is $14.81. The company has a market cap of $1.10 billion, a P/E ratio of -10.99 and a beta of 2.50.

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

Analyst Upgrades and Downgrades

JANX has been the topic of a number of research analyst reports. Wolfe Research raised shares of Janux Therapeutics from a "peer perform" rating to an "outperform" rating and set a $23.00 price target on the stock in a report on Monday, August 24th. Guggenheim lowered their price objective on shares of Janux Therapeutics from $58.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Janux Therapeutics in a research note on Monday, July 20th. Truist Financial reissued a "buy" rating and set a $26.00 target price (down from $80.00) on shares of Janux Therapeutics in a research report on Thursday, June 25th. Finally, Evercore set a $22.00 price target on shares of Janux Therapeutics in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.46.

Insider Activity

In other news, insider Janeen Noel Doyle sold 4,059 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $14.03, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 7.90% of the company's stock.

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.

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