Janux Therapeutics, Inc. $JANX Shares Purchased by ADAR1 Capital Management LLC

Key Points

• ADAR1 Capital Management increased its Janux Therapeutics stake by 41% in the second quarter, adding 122,335 shares to own 420,881 shares worth approximately $6.5 million. Institutional investors collectively own 75.39% of JANX.
• Janux shares opened at $18.68, up 0.4%, but the company reported a quarterly loss of $0.35 per share versus the $0.25 consensus estimate and revenue of $10.27 million versus expectations of $19.07 million.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $36.46, despite several firms recently lowering their targets; TD Cowen upgraded the stock to “strong buy.”

ADAR1 Capital Management LLC grew its position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 41.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 420,881 shares of the company's stock after buying an additional 122,335 shares during the period. ADAR1 Capital Management LLC owned about 0.69% of Janux Therapeutics worth $6,465,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Janux Therapeutics in the second quarter worth $94,228,000. State Street Corp boosted its holdings in shares of Janux Therapeutics by 103.8% during the fourth quarter. State Street Corp now owns 3,853,951 shares of the company's stock valued at $53,185,000 after acquiring an additional 1,962,486 shares during the period. Prosight Management LP boosted its holdings in shares of Janux Therapeutics by 176.5% during the fourth quarter. Prosight Management LP now owns 2,392,523 shares of the company's stock valued at $33,017,000 after acquiring an additional 1,527,173 shares during the period. Wellington Management Group LLP grew its position in shares of Janux Therapeutics by 129.5% during the fourth quarter. Wellington Management Group LLP now owns 1,610,186 shares of the company's stock worth $22,221,000 after acquiring an additional 908,582 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Janux Therapeutics during the fourth quarter valued at about $12,221,000. Institutional investors and hedge funds own 75.39% of the company's stock.

Janux Therapeutics Trading Up 0.4%

Shares of Janux Therapeutics stock opened at $18.68 on Wednesday. Janux Therapeutics, Inc. has a 52 week low of $12.12 and a 52 week high of $35.34. The stock has a market cap of $1.14 billion, a PE ratio of -11.39 and a beta of 2.50. The company's 50-day moving average price is $15.85 and its two-hundred day moving average price is $14.70.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.35) 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 analyst estimates of $19.07 million. On average, equities analysts predict that Janux Therapeutics, Inc. will post -1.76 EPS for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In related news, insider Janeen Noel Doyle sold 4,059 shares of Janux Therapeutics stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $14.03, for a total value of $56,947.77. Following the transaction, the insider directly owned 75,941 shares in the company, valued at $1,065,452.23. The trade was a 5.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 corporate insiders.

Analyst Upgrades and Downgrades

JANX has been the subject of a number of recent analyst reports. TD Cowen upgraded shares of Janux Therapeutics to a "strong-buy" rating in a research report on Monday. JonesTrading dropped their price target on shares of Janux Therapeutics from $50.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Janux Therapeutics in a research note on Monday, July 20th. Guggenheim reduced their price target on shares of Janux Therapeutics from $58.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, August 7th. Finally, Piper Sandler lowered their price objective on shares of Janux Therapeutics from $30.00 to $26.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. One 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 given a Sell rating to the company's stock. Based on data from MarketBeat, Janux Therapeutics presently 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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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.

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