Lord Abbett & CO. LLC Cuts Stake 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 trimmed its position in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 47.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & 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.

Other institutional investors also recently bought and sold shares of the company. LPL Financial LLC bought a new stake in shares of Janux Therapeutics in the 4th quarter valued at approximately $439,000. Wells Fargo & Company MN grew its position in shares of Janux Therapeutics by 52.9% in the fourth quarter. Wells Fargo & Company MN now owns 13,251 shares of the company's stock valued at $709,000 after purchasing an additional 4,585 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Janux Therapeutics by 77.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,011 shares of the company's stock valued at $54,000 after purchasing an additional 442 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of Janux Therapeutics during the fourth quarter worth $239,000. Finally, Invesco Ltd. raised its stake in shares of Janux Therapeutics by 2,764.4% in the fourth quarter. Invesco Ltd. now owns 284,662 shares of the company's stock valued at $15,241,000 after acquiring an additional 274,724 shares in the last quarter. Institutional investors own 75.39% of the company's stock.

Janux Therapeutics Stock Down 4.1%

Shares of JANX traded down $1.02 during trading hours on Thursday, hitting $23.85. The company had a trading volume of 348,284 shares, compared to its average volume of 939,742. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -13.18 and a beta of 2.86. The business has a fifty day moving average of $24.56 and a 200-day moving average of $28.03. 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 posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.07). On average, equities analysts expect that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on JANX shares. Raymond James Financial initiated coverage on Janux Therapeutics in a research report on Friday, July 11th. They set an "outperform" rating and a $65.00 price objective for the company. Piper Sandler started coverage on shares of Janux Therapeutics in a research note on Monday. They issued an "overweight" rating and a $42.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $86.90.

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.