Irenic Capital Management LP Invests $10.64 Million in Janux Therapeutics, Inc. $JANX

Irenic Capital Management LP acquired a new stake in Janux Therapeutics, Inc. (NASDAQ:JANX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 765,804 shares of the company’s stock, valued at approximately $10,645,000. Janux Therapeutics comprises 0.7% of Irenic Capital Management LP’s holdings, making the stock its 25th largest position.

A number of other institutional investors have also modified their holdings of JANX. State Street Corp lifted its stake in shares of Janux Therapeutics by 103.8% during the fourth 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 during the period. Prosight Management LP grew its stake in Janux Therapeutics by 176.5% in the 4th quarter. Prosight Management LP now owns 2,392,523 shares of the company’s stock worth $33,017,000 after acquiring an additional 1,527,173 shares during the period. Wellington Management Group LLP raised its holdings in Janux Therapeutics by 129.5% in the 4th quarter. Wellington Management Group LLP now owns 1,610,186 shares of the company’s stock valued at $22,221,000 after acquiring an additional 908,582 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Janux Therapeutics in the 4th quarter valued at $12,221,000. Finally, Alyeska Investment Group L.P. raised its holdings in Janux Therapeutics by 206.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,301,089 shares of the company’s stock valued at $17,955,000 after acquiring an additional 876,244 shares during the last quarter. Institutional investors and hedge funds own 75.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays cut Janux Therapeutics from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $29.00 to $14.00 in a report on Monday, April 20th. Wedbush dropped their target price on Janux Therapeutics from $45.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Truist Financial reiterated a “buy” rating and set a $26.00 target price (down from $80.00) on shares of Janux Therapeutics in a research report on Thursday, June 25th. Wall Street Zen raised Janux Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, April 5th. Finally, Guggenheim lowered their price target on Janux Therapeutics from $68.00 to $58.00 and set a “buy” rating for the company in a report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.08.

Insiders Place Their Bets

In other Janux Therapeutics news, insider Janeen Noel Doyle sold 4,059 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $14.03, for a total transaction of $56,947.77. Following the completion of the sale, the insider owned 75,941 shares of the company’s stock, valued at approximately $1,065,452.23. The trade was a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $14.17, for a total value of $28,878.46. Following the sale, the vice president directly owned 32,270 shares of the company’s stock, valued at approximately $457,265.90. This trade represents a 5.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 7.90% of the stock is currently owned by company insiders.

Janux Therapeutics Stock Down 3.7%

NASDAQ:JANX opened at $15.00 on Wednesday. The company has a market cap of $914.70 million, a P/E ratio of -8.15 and a beta of 2.52. The firm’s 50 day moving average is $14.86 and its two-hundred day moving average is $14.35. Janux Therapeutics, Inc. has a fifty-two week low of $12.12 and a fifty-two week high of $35.34.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.13. The company had revenue of $3.73 million for the quarter, compared to analysts’ expectations of $4.36 million. Research analysts forecast that Janux Therapeutics, Inc. will post -1.7 earnings per share for the current fiscal year.

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.