Wellington Management Group LLP Sells 90,290 Shares of Janux Therapeutics, Inc. $JANX

Key Points

• Wellington Management reduced its Janux Therapeutics stake by 5.7%, selling 90,290 shares and retaining 1.51 million shares valued at approximately $23.2 million. Institutional investors and hedge funds collectively own 75.39% of JANX.
• Janux shares opened at $20.24, up 2.2%, but the company reported a quarterly loss of $0.35 per share and revenue of $10.27 million, missing analyst expectations for both measures.
• Analyst sentiment remains a “Moderate Buy”, with a consensus price target of $36.46; recent recommendations include upgraded ratings from TD Cowen and Wolfe Research, alongside reduced price targets from Guggenheim and Truist Financial.

Wellington Management Group LLP lessened its stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) by 5.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,507,360 shares of the company's stock after selling 90,290 shares during the period. Wellington Management Group LLP owned 2.47% of Janux Therapeutics worth $23,153,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Janux Therapeutics during the second quarter valued at about $94,228,000. Janus Henderson Group PLC increased its position in Janux Therapeutics by 13.8% in the 4th quarter. Janus Henderson Group PLC now owns 5,350,453 shares of the company's stock valued at $73,850,000 after buying an additional 649,341 shares in the last quarter. State Street Corp increased its position in Janux Therapeutics by 103.8% in the 4th quarter. State Street Corp now owns 3,853,951 shares of the company's stock valued at $53,185,000 after buying an additional 1,962,486 shares in the last quarter. Vanguard Group Inc. raised its stake in Janux Therapeutics by 10.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,417,104 shares of the company's stock worth $59,074,000 after buying an additional 227,676 shares during the period. Finally, Prosight Management LP raised its stake in Janux Therapeutics by 176.5% during the 4th quarter. Prosight Management LP now owns 2,392,523 shares of the company's stock worth $33,017,000 after buying an additional 1,527,173 shares during the period. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Janux Therapeutics Trading Up 2.2%

Shares of NASDAQ:JANX opened at $20.24 on Friday. The stock's 50-day moving average price is $16.59 and its 200-day moving average price is $15.03. Janux Therapeutics, Inc. has a 12-month low of $12.12 and a 12-month high of $35.34. The stock has a market capitalization of $1.24 billion, a P/E ratio of -12.34 and a beta of 2.53.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.10). The firm had revenue of $10.27 million during the quarter, compared to the consensus estimate of $19.07 million. As a group, research analysts predict that Janux Therapeutics, Inc. will post -1.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Guggenheim reduced their target price on shares of Janux Therapeutics from $58.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Truist Financial reiterated a "buy" rating and issued a $26.00 price objective (down from $80.00) on shares of Janux Therapeutics in a research note on Thursday, June 25th. TD Cowen raised Janux Therapeutics to a "strong-buy" rating in a report on Monday, August 24th. Wolfe Research raised Janux Therapeutics from a "peer perform" rating to an "outperform" rating and set a $23.00 target price for the company in a research report on Monday, August 24th. Finally, Stifel Nicolaus set a $35.00 price objective on Janux Therapeutics in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.46.

About Janux Therapeutics

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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