Bank of New York Mellon Corp Has $2.41 Million Stock Position in Janux Therapeutics, Inc. (NASDAQ:JANX)

Key Points

• Bank of New York Mellon Corp increased its stake in Janux Therapeutics by 13.3%, owning approximately 89,370 shares valued at $2.41 million.
• Several institutional investors, including Russell Investments Group Ltd., have significantly increased their holdings in Janux Therapeutics, with hedge funds owning about 75.39% of the stock.
• Janux Therapeutics reported earnings of ($0.38) per share, exceeding the consensus estimate, and has a market cap of $1.51 billion.

Bank of New York Mellon Corp boosted its position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 13.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 89,370 shares of the company's stock after purchasing an additional 10,511 shares during the quarter. Bank of New York Mellon Corp owned about 0.15% of Janux Therapeutics worth $2,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of JANX. Teacher Retirement System of Texas grew its holdings in Janux Therapeutics by 127.2% during the 4th quarter. Teacher Retirement System of Texas now owns 11,815 shares of the company's stock valued at $633,000 after buying an additional 6,614 shares in the last quarter. Sei Investments Co. bought a new stake in Janux Therapeutics in the fourth quarter worth $502,000. KLP Kapitalforvaltning AS bought a new stake in Janux Therapeutics in the fourth quarter worth $450,000. LPL Financial LLC bought a new stake in Janux Therapeutics in the fourth quarter worth $439,000. Finally, Vanguard Group Inc. increased its position in Janux Therapeutics by 15.6% in the fourth quarter. Vanguard Group Inc. now owns 2,136,332 shares of the company's stock worth $114,379,000 after purchasing an additional 288,402 shares during the last quarter. Institutional investors own 75.39% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial began coverage on shares of Janux Therapeutics in a research note on Friday, July 11th. They issued an "outperform" rating and a $65.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Janux Therapeutics currently has a consensus rating of "Buy" and an average price target of $91.89.

Insider Activity at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 3,333 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $32.03, for a total transaction of $106,755.99. Following the completion of the transaction, the insider owned 82,139 shares in the company, valued at $2,630,912.17. The trade was a 3.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 29.40% of the company's stock.

Janux Therapeutics Trading Up 0.2%

Shares of Janux Therapeutics stock traded up $0.06 during trading hours on Wednesday, hitting $24.23. 594,640 shares of the company were exchanged, compared to its average volume of 945,969. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -17.82 and a beta of 2.86. Janux Therapeutics, Inc. has a 1 year low of $22.48 and a 1 year high of $71.71. The business has a 50-day moving average of $24.80 and a 200-day moving average of $30.00.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.05. As a group, research analysts anticipate that Janux Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

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.