MPM Bioimpact LLC Has $15.31 Million Position in Janux Therapeutics, Inc. $JANX

Key Points

• MPM Bioimpact LLC increased its position in Janux Therapeutics by 146.6%, owning 567,193 shares worth approximately $15.31 million, making it the firm's 15th largest holding.
• Janux Therapeutics recently had an average price target of $86.90, with multiple analysts issuing ratings including two Strong Buy recommendations and ten Buy ratings.
• The stock opened at $22.72 after a 1.4% decline, following a quarterly earnings report that missed consensus estimates, posting an EPS of ($0.55).

MPM Bioimpact LLC boosted its position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 146.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 567,193 shares of the company's stock after purchasing an additional 337,193 shares during the quarter. Janux Therapeutics accounts for about 2.6% of MPM Bioimpact LLC's investment portfolio, making the stock its 15th biggest holding. MPM Bioimpact LLC owned about 0.96% of Janux Therapeutics worth $15,314,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. RA Capital Management L.P. boosted its holdings in shares of Janux Therapeutics by 7.9% in the first quarter. RA Capital Management L.P. now owns 11,189,693 shares of the company's stock valued at $302,122,000 after buying an additional 824,041 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Janux Therapeutics by 88.0% in the first quarter. Cubist Systematic Strategies LLC now owns 75,860 shares of the company's stock valued at $2,048,000 after buying an additional 35,511 shares during the period. Magnetar Financial LLC boosted its holdings in shares of Janux Therapeutics by 204.2% in the first quarter. Magnetar Financial LLC now owns 41,055 shares of the company's stock valued at $1,108,000 after buying an additional 27,557 shares during the period. Tema Etfs LLC boosted its holdings in shares of Janux Therapeutics by 779.5% in the first quarter. Tema Etfs LLC now owns 45,937 shares of the company's stock valued at $1,240,000 after buying an additional 40,714 shares during the period. Finally, Trexquant Investment LP boosted its holdings in shares of Janux Therapeutics by 156.6% in the first quarter. Trexquant Investment LP now owns 168,972 shares of the company's stock valued at $4,562,000 after buying an additional 103,114 shares during the period. Institutional investors and hedge funds own 75.39% of the company's stock.

Analyst Upgrades and Downgrades

JANX has been the subject of several research analyst reports. Piper Sandler initiated coverage on shares of Janux Therapeutics in a report on Monday, August 18th. They issued an "overweight" rating and a $42.00 price target for the company. Raymond James Financial began coverage on shares of Janux Therapeutics in a research report on Friday, July 11th. They issued an "outperform" rating and a $65.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $86.90.

Janux Therapeutics Trading Down 1.4%

NASDAQ JANX opened at $22.72 on Tuesday. The firm's fifty day moving average price is $24.51 and its two-hundred day moving average price is $26.99. Janux Therapeutics, Inc. has a 1 year low of $21.97 and a 1 year high of $71.71. The firm has a market capitalization of $1.37 billion, a P/E ratio of -12.62 and a beta of 2.84.

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 (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.07). On average, research analysts anticipate that Janux Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Janux Therapeutics 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.

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