Janux Therapeutics, Inc. $JANX Shares Purchased by Rhenman & Partners Asset Management AB

Key Points

• Rhenman & Partners boosted its Janux Therapeutics stake by 125.1% in Q4, ending with 225,377 shares worth about $3.1 million. Institutional ownership remains very high at 75.39%.
• Several other investors also increased positions, including Vanguard, OrbiMed, Goldman Sachs, and Geode Capital Management, while insiders sold shares in May and June for tax-withholding reasons.
• Analysts remain mixed but generally positive: the consensus rating is Moderate Buy with an average price target of $45.85, even though recent target cuts reflected some caution. Janux also reported a smaller-than-expected quarterly loss of $0.39 per share on revenue of $3.73 million.

Rhenman & Partners Asset Management AB increased its stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 125.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,377 shares of the company's stock after acquiring an additional 125,250 shares during the period. Rhenman & Partners Asset Management AB owned about 0.37% of Janux Therapeutics worth $3,110,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Janux Therapeutics by 10.4% in the third quarter. Vanguard Group Inc. now owns 2,417,104 shares of the company's stock valued at $59,074,000 after purchasing an additional 227,676 shares during the period. Orbimed Advisors LLC grew its holdings in Janux Therapeutics by 45.9% in the third quarter. Orbimed Advisors LLC now owns 1,766,100 shares of the company's stock valued at $43,163,000 after purchasing an additional 555,800 shares during the period. Geode Capital Management LLC grew its holdings in Janux Therapeutics by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 1,113,582 shares of the company's stock valued at $15,371,000 after purchasing an additional 29,718 shares during the period. Goldman Sachs Group Inc. grew its holdings in Janux Therapeutics by 63.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,073,656 shares of the company's stock valued at $14,816,000 after purchasing an additional 418,548 shares during the period. Finally, Readystate Asset Management LP grew its holdings in Janux Therapeutics by 38.0% in the third quarter. Readystate Asset Management LP now owns 960,379 shares of the company's stock valued at $23,472,000 after purchasing an additional 264,423 shares during the period. 75.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Janux Therapeutics

In related news, VP Maria Dobek sold 2,038 shares of Janux Therapeutics stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $14.17, for a total transaction of $28,878.46. Following the transaction, the vice president owned 32,270 shares in the company, valued at approximately $457,265.90. This trade represents a 5.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Janeen Noel Doyle sold 4,059 shares of Janux Therapeutics stock in a transaction that occurred 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 owned 75,941 shares in the company, valued at approximately $1,065,452.23. The trade was a 5.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 7.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Weiss Ratings raised Janux Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, April 22nd. Guggenheim dropped their price objective on Janux Therapeutics from $68.00 to $58.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Wall Street Zen upgraded Janux Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, April 5th. Wedbush decreased their target price on Janux Therapeutics from $45.00 to $36.00 and set an "outperform" rating on the stock in a research report on Friday, May 8th. Finally, Truist Financial upgraded Janux Therapeutics to a "strong-buy" rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $45.85.

Janux Therapeutics Price Performance

NASDAQ JANX opened at $13.56 on Friday. The company has a market cap of $826.89 million, a PE ratio of -7.37 and a beta of 2.53. The stock's 50 day simple moving average is $14.49 and its 200-day simple moving average is $15.03. Janux Therapeutics, Inc. has a 1-year low of $12.12 and a 1-year high of $35.34.

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

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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