BML Capital Management LLC Purchases Shares of 154,961 Janux Therapeutics, Inc. $JANX

Key Points

• BML Capital Management initiated a new position in Janux Therapeutics, buying 154,961 shares valued at about $2.15 million. The stake represents roughly 1.4% of its portfolio and about 0.25% of Janux’s shares outstanding.
• Janux Therapeutics posted a smaller-than-expected loss in its latest quarter, reporting EPS of -$0.39 versus the -$0.52 consensus estimate. Revenue came in below expectations at $3.73 million, and analysts now expect full-year EPS of -1.7.
• Wall Street remains generally constructive on the stock, with nine Buy ratings and an average target price of $38.08, though several firms trimmed their price targets. Recent insider sales by two executives were also disclosed, both tied to share disposals in May and June.

BML Capital Management LLC purchased a new stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 154,961 shares of the company's stock, valued at approximately $2,154,000. Janux Therapeutics comprises about 1.4% of BML Capital Management LLC's portfolio, making the stock its 12th largest position. BML Capital Management LLC owned about 0.25% of Janux Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. California State Teachers Retirement System raised its position in Janux Therapeutics by 1.1% during the 2nd quarter. California State Teachers Retirement System now owns 37,139 shares of the company's stock worth $858,000 after purchasing an additional 404 shares during the last quarter. Nuveen LLC increased its stake in shares of Janux Therapeutics by 0.8% in the fourth quarter. Nuveen LLC now owns 96,416 shares of the company's stock valued at $1,331,000 after buying an additional 787 shares during the period. Congress Asset Management Co. increased its stake in shares of Janux Therapeutics by 2.8% in the fourth quarter. Congress Asset Management Co. now owns 57,342 shares of the company's stock valued at $791,000 after buying an additional 1,569 shares during the period. ProShare Advisors LLC raised its position in shares of Janux Therapeutics by 18.3% during the fourth quarter. ProShare Advisors LLC now owns 10,495 shares of the company's stock worth $145,000 after acquiring an additional 1,621 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its position in shares of Janux Therapeutics by 20.0% during the third quarter. Kennedy Capital Management LLC now owns 11,413 shares of the company's stock worth $279,000 after acquiring an additional 1,905 shares during the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Janux Therapeutics Price Performance

Shares of Janux Therapeutics stock opened at $15.84 on Friday. Janux Therapeutics, Inc. has a one year low of $12.12 and a one year high of $35.34. The firm has a market capitalization of $965.92 million, a price-to-earnings ratio of -8.61 and a beta of 2.52. The business has a 50-day simple moving average of $14.62 and a 200 day simple moving average of $14.24.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.13. The firm had revenue of $3.73 million during the quarter, compared to the consensus estimate of $4.36 million. On average, sell-side analysts expect that Janux Therapeutics, Inc. will post -1.7 EPS for the current year.

Wall Street Analysts Forecast Growth

JANX has been the topic of several analyst reports. Guggenheim reduced their target price on Janux Therapeutics from $68.00 to $58.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Piper Sandler dropped their price target on shares of Janux Therapeutics from $30.00 to $26.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Weiss Ratings raised shares of Janux Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded shares of Janux Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, April 5th. Finally, Wedbush lowered their target price on shares of Janux Therapeutics from $45.00 to $36.00 and set an "outperform" rating for the company in a research note on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.08.

Insider Buying and Selling

In related news, VP Maria Dobek sold 2,038 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $14.17, for a total value of $28,878.46. Following the transaction, the vice president directly owned 32,270 shares in the company, valued at $457,265.90. This trade represents a 5.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Janeen Noel Doyle sold 4,059 shares of the business'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 sale, the insider owned 75,941 shares of the company's stock, valued at $1,065,452.23. This trade represents a 5.07% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 7.90% of the stock is owned by corporate insiders.

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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