Adage Capital Partners GP L.L.C. Purchases 592,824 Shares of Janux Therapeutics, Inc. $JANX

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Janux Therapeutics by 19.4%, owning 3,654,574 shares valued at approximately $98.7 million as of the end of the first quarter.
• Janux Therapeutics currently has an average stock rating of "Buy" and a consensus price target of $86.90, with several analysts providing optimistic forecasts for its future performance.
• The company reported a loss of ($0.55) earnings per share for the latest quarter, slightly missing analysts' expectations of ($0.48).

Adage Capital Partners GP L.L.C. increased its stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 19.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,654,574 shares of the company's stock after purchasing an additional 592,824 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 6.18% of Janux Therapeutics worth $98,673,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of JANX. GF Fund Management CO. LTD. acquired a new stake in shares of Janux Therapeutics during the fourth quarter worth $59,000. GAMMA Investing LLC grew its position in shares of Janux Therapeutics by 1,574.0% during the 1st quarter. GAMMA Investing LLC now owns 1,674 shares of the company's stock worth $45,000 after purchasing an additional 1,574 shares in the last quarter. US Bancorp DE boosted its position in shares of Janux Therapeutics by 2,402.9% during the 1st quarter. US Bancorp DE now owns 1,727 shares of the company's stock worth $47,000 after acquiring an additional 1,658 shares in the last quarter. FNY Investment Advisers LLC lifted its stake in Janux Therapeutics by 6,928.6% in the 1st quarter. FNY Investment Advisers LLC now owns 2,460 shares of the company's stock valued at $66,000 after purchasing an additional 2,425 shares during the last quarter. Finally, KBC Group NV bought a new position in Janux Therapeutics in the 1st quarter valued at approximately $66,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Janux Therapeutics Trading Up 5.3%

Shares of JANX traded up $1.26 during mid-day trading on Monday, reaching $25.24. The company's stock had a trading volume of 255,810 shares, compared to its average volume of 914,805. The stock has a market cap of $1.52 billion, a PE ratio of -14.02 and a beta of 2.84. Janux Therapeutics, Inc. has a 52 week low of $21.97 and a 52 week high of $71.71. The company's fifty day moving average price is $24.53 and its two-hundred day moving average price is $26.61.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.07). Research analysts anticipate that Janux Therapeutics, Inc. will post -1.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JANX. Raymond James Financial began coverage on shares of Janux Therapeutics in a research report on Friday, July 11th. They set an "outperform" rating and a $65.00 price objective for the company. Guggenheim assumed coverage on shares of Janux Therapeutics in a report on Wednesday. They issued a "buy" rating and a $72.00 target price on the stock. Finally, Piper Sandler initiated coverage on shares of Janux Therapeutics in a report on Monday, August 18th. They issued an "overweight" rating and a $42.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $85.55.

Janux Therapeutics Company Profile

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.