Readystate Asset Management LP Has $1.52 Million Stake in Janux Therapeutics, Inc. $JANX

Key Points

• Readystate Asset Management cut its Janux Therapeutics stake by 87.6% in the first quarter, selling 776,470 shares and retaining 109,425 shares worth approximately $1.52 million. Institutional investors and hedge funds collectively own 75.39% of JANX.
• Janux shares opened at $15.00 after declining 3.7%; the company reported a quarterly loss of $0.39 per share, better than analyst expectations, but revenue of $3.73 million fell short of estimates.
• Analysts remain moderately bullish, with a consensus “Moderate Buy” rating and average price target of $38.08, despite several firms recently lowering their targets. Company insiders own 7.90% of the stock, with two executives recently selling shares, including one sale to cover tax withholding obligations.

Readystate Asset Management LP trimmed its position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 87.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,425 shares of the company's stock after selling 776,470 shares during the period. Readystate Asset Management LP owned approximately 0.18% of Janux Therapeutics worth $1,521,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Janux Therapeutics during the 4th quarter worth about $34,000. Caitong International Asset Management Co. Ltd bought a new stake in Janux Therapeutics during the 4th quarter valued at approximately $51,000. Osaic Holdings Inc. grew its holdings in Janux Therapeutics by 704.6% in the 2nd quarter. Osaic Holdings Inc. now owns 3,468 shares of the company's stock valued at $80,000 after buying an additional 3,037 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Janux Therapeutics by 175.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,928 shares of the company's stock valued at $91,000 after buying an additional 2,502 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Janux Therapeutics in the 4th quarter worth approximately $137,000. 75.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Maria Dobek sold 2,038 shares of Janux Therapeutics stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $14.17, for a total transaction of $28,878.46. Following the sale, the vice president directly owned 32,270 shares in the company, valued at approximately $457,265.90. The trade was a 5.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Janeen Noel Doyle sold 4,059 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $14.03, for a total transaction of $56,947.77. Following the completion of the sale, the insider directly owned 75,941 shares in the company, valued at approximately $1,065,452.23. The trade was a 5.07% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 7.90% of the company's stock.

Janux Therapeutics Trading Down 3.7%

Shares of NASDAQ:JANX opened at $15.00 on Wednesday. Janux Therapeutics, Inc. has a 1-year low of $12.12 and a 1-year high of $35.34. The firm has a market capitalization of $914.70 million, a PE ratio of -8.15 and a beta of 2.52. The business's 50 day moving average is $14.86 and its 200-day moving average is $14.35.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.39) EPS for the quarter, beating analysts' consensus estimates of ($0.52) by $0.13. The firm had revenue of $3.73 million during the quarter, compared to analyst estimates of $4.36 million. On average, sell-side analysts predict that Janux Therapeutics, Inc. will post -1.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on JANX. Wedbush cut their price target on Janux Therapeutics from $45.00 to $36.00 and set an "outperform" rating for the company in a report on Friday, May 8th. Piper Sandler dropped their target price on shares of Janux Therapeutics from $30.00 to $26.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. JonesTrading reduced their price target on shares of Janux Therapeutics from $50.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, April 28th. Truist Financial restated a "buy" rating and issued a $26.00 price target (down from $80.00) on shares of Janux Therapeutics in a research report on Thursday, June 25th. Finally, Guggenheim dropped their price objective on shares of Janux Therapeutics from $68.00 to $58.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $38.08.

Janux Therapeutics 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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