State Street Corp Boosts Stake in Janux Therapeutics, Inc. $JANX

Key Points

• State Street increased its Janux Therapeutics stake by 22% in the second quarter, adding 540,882 shares to own 3.0 million shares, or approximately 4.91% of the company. Institutional investors collectively hold 75.39% of JANX.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $36.46, despite several target reductions and a wide range of individual estimates.
• Janux reported weaker-than-expected quarterly results, posting an adjusted loss of $0.35 per share versus the $0.25 consensus estimate and revenue of $10.27 million versus expectations of $19.07 million. The stock recently traded at $16.68, near its 52-week range of $12.12 to $35.34.

State Street Corp boosted its position in Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 22.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,004,899 shares of the company's stock after purchasing an additional 540,882 shares during the period. State Street Corp owned about 4.91% of Janux Therapeutics worth $46,155,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in shares of Janux Therapeutics by 42.8% in the second quarter. Versant Capital Management Inc now owns 2,615 shares of the company's stock worth $40,000 after buying an additional 784 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Janux Therapeutics during the fourth quarter valued at approximately $51,000. Quantbot Technologies LP increased its holdings in Janux Therapeutics by 2,290.0% during the second quarter. Quantbot Technologies LP now owns 5,497 shares of the company's stock valued at $84,000 after buying an additional 5,267 shares during the last quarter. ProShare Advisors LLC raised its position in Janux Therapeutics by 18.3% in the fourth quarter. ProShare Advisors LLC now owns 10,495 shares of the company's stock worth $145,000 after acquiring an additional 1,621 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Janux Therapeutics in the second quarter worth approximately $174,000. Hedge funds and other institutional investors own 75.39% of the company's stock.

Analysts Set New Price Targets

JANX has been the subject of several analyst reports. Guggenheim reduced their price objective on Janux Therapeutics from $58.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, August 7th. TD Cowen upgraded Janux Therapeutics to a "strong-buy" rating in a research report on Monday, August 24th. Wolfe Research raised Janux Therapeutics from a "peer perform" rating to an "outperform" rating and set a $23.00 price objective on the stock in a research note on Monday, August 24th. Truist Financial reaffirmed a "buy" rating and set a $26.00 price objective (down from $80.00) on shares of Janux Therapeutics in a research report on Thursday, June 25th. Finally, Stifel Nicolaus set a $35.00 price objective on Janux Therapeutics in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $36.46.

Janux Therapeutics Price Performance

JANX stock opened at $16.68 on Friday. Janux Therapeutics, Inc. has a 1-year low of $12.12 and a 1-year high of $35.34. The business has a 50 day simple moving average of $17.06 and a two-hundred day simple moving average of $15.43. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -10.17 and a beta of 2.53.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.10). The firm had revenue of $10.27 million for the quarter, compared to analysts' expectations of $19.07 million. Sell-side analysts anticipate that Janux Therapeutics, Inc. will post -1.7 EPS for the current fiscal year.

About Janux Therapeutics

Janux Therapeutics, Inc NASDAQ: JANX is a clinical-stage biotechnology company developing immunotherapies designed to activate the body's T cells against cancer while limiting activity in healthy tissues. The company's approach is intended to address challenges associated with conventional T-cell engagers, including systemic toxicity and limited tolerability.

Janux's programs are based on its Tumor Activated T Cell Engager (TRACTr) platform. These therapeutic molecules are designed to remain inactive in circulation and become activated within the tumor microenvironment, where they can direct T cells to recognize and attack cancer cells.

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