Cormorant Asset Management LP Has $8.97 Million Stake in Janux Therapeutics, Inc. $JANX

Cormorant Asset Management LP decreased its position in Janux Therapeutics, Inc. (NASDAQ:JANX) by 23.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 650,000 shares of the company’s stock after selling 200,000 shares during the period. Janux Therapeutics comprises about 0.4% of Cormorant Asset Management LP’s investment portfolio, making the stock its 28th biggest holding. Cormorant Asset Management LP’s holdings in Janux Therapeutics were worth $8,970,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JANX. AQR Capital Management LLC boosted its stake in Janux Therapeutics by 71.7% in the 1st quarter. AQR Capital Management LLC now owns 9,717 shares of the company’s stock worth $262,000 after purchasing an additional 4,059 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Janux Therapeutics by 18.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,403 shares of the company’s stock worth $583,000 after purchasing an additional 3,393 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Janux Therapeutics by 12.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,394 shares of the company’s stock worth $5,033,000 after purchasing an additional 20,657 shares during the period. JPMorgan Chase & Co. boosted its stake in Janux Therapeutics by 82.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 247,424 shares of the company’s stock worth $5,715,000 after purchasing an additional 112,116 shares during the period. Finally, Legal & General Group Plc boosted its stake in Janux Therapeutics by 12.0% in the 2nd quarter. Legal & General Group Plc now owns 47,353 shares of the company’s stock worth $1,094,000 after purchasing an additional 5,055 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. UBS Group lowered shares of Janux Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $57.00 to $15.00 in a research note on Wednesday, April 15th. Piper Sandler decreased their target price on shares of Janux Therapeutics from $30.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Wedbush decreased their target price on shares of Janux Therapeutics from $45.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Barclays lowered shares of Janux Therapeutics from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $29.00 to $14.00 in a research note on Monday, April 20th. Finally, Truist Financial raised shares of Janux Therapeutics to a “strong-buy” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $45.85.

Janux Therapeutics Stock Up 3.3%

Shares of NASDAQ:JANX opened at $14.15 on Thursday. The firm has a fifty day moving average of $14.43 and a two-hundred day moving average of $14.47. The firm has a market capitalization of $862.87 million, a P/E ratio of -7.69 and a beta of 2.53. Janux Therapeutics, Inc. has a 12-month low of $12.12 and a 12-month high of $35.34.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Thursday, May 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.13. The company had revenue of $3.73 million for the quarter, compared to analyst estimates of $4.36 million. Equities research analysts expect that Janux Therapeutics, Inc. will post -1.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Janux Therapeutics Company 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.