Lord Abbett & CO. LLC Has $18.03 Million Holdings in Janux Therapeutics, Inc. $JANX

Key Points

• Lord Abbett & CO. LLC reduced its stake in Janux Therapeutics by 47.3%, selling nearly 600,000 shares and retaining over 667,000 shares valued at approximately $18 million.
• GAMMA Investing LLC and US Bancorp DE significantly increased their positions in Janux Therapeutics, with stakes up by 1,574% and 2,402% respectively during the first quarter.
• Analysts gave Janux Therapeutics an average rating of "Buy" with a suggested price target of $91.89, although the company recently reported an EPS of ($0.55), missing estimates.

Lord Abbett & CO. LLC reduced its position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 47.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 667,881 shares of the company's stock after selling 599,922 shares during the period. Lord Abbett & CO. LLC owned 1.13% of Janux Therapeutics worth $18,033,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in shares of Janux Therapeutics by 77.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock worth $54,000 after buying an additional 442 shares during the period. Avanza Fonder AB boosted its holdings in shares of Janux Therapeutics by 17.0% during the 1st quarter. Avanza Fonder AB now owns 3,049 shares of the company's stock worth $86,000 after buying an additional 444 shares during the period. New York State Common Retirement Fund boosted its holdings in Janux Therapeutics by 3.0% in the 1st quarter. New York State Common Retirement Fund now owns 16,435 shares of the company's stock valued at $444,000 after purchasing an additional 471 shares during the period. Exchange Traded Concepts LLC grew its position in Janux Therapeutics by 20.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 4,043 shares of the company's stock worth $109,000 after purchasing an additional 686 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in Janux Therapeutics by 6.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,855 shares of the company's stock worth $320,000 after purchasing an additional 727 shares during the last quarter. 75.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

JANX has been the topic of several research analyst reports. Piper Sandler initiated coverage on shares of Janux Therapeutics in a research report on Monday. They issued an "overweight" rating and a $42.00 price target on the stock. Raymond James Financial initiated coverage on shares of Janux Therapeutics in a research report on Friday, July 11th. They issued an "outperform" rating and a $65.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Janux Therapeutics has an average rating of "Buy" and an average target price of $86.90.

Janux Therapeutics Stock Performance

Shares of NASDAQ:JANX traded down $0.83 during midday trading on Tuesday, reaching $24.70. 1,030,934 shares of the company's stock were exchanged, compared to its average volume of 944,831. The company's 50 day simple moving average is $24.60 and its two-hundred day simple moving average is $28.08. The firm has a market capitalization of $1.48 billion, a PE ratio of -13.72 and a beta of 2.86. Janux Therapeutics, Inc. has a 12 month low of $21.97 and a 12 month high of $71.71.

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

About Janux Therapeutics

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.