Lord Abbett & CO. LLC Boosts Holdings in Janux Therapeutics, Inc. (NASDAQ:JANX)

Lord Abbett & CO. LLC grew its position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) by 0.1% during the third quarter, HoldingsChannel reports. The firm owned 703,481 shares of the company’s stock after buying an additional 874 shares during the period. Lord Abbett & CO. LLC’s holdings in Janux Therapeutics were worth $31,959,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Janux Therapeutics by 202.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock valued at $10,639,000 after purchasing an additional 156,675 shares during the period. Algert Global LLC purchased a new stake in shares of Janux Therapeutics during the third quarter valued at approximately $1,112,000. Ally Bridge Group NY LLC purchased a new stake in shares of Janux Therapeutics during the third quarter valued at approximately $4,943,000. FMR LLC raised its stake in shares of Janux Therapeutics by 0.6% during the third quarter. FMR LLC now owns 7,824,675 shares of the company’s stock valued at $355,475,000 after purchasing an additional 47,075 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in shares of Janux Therapeutics during the third quarter valued at approximately $940,000. Hedge funds and other institutional investors own 75.39% of the company’s stock.

Insider Activity

In other news, CEO David Alan Campbell sold 25,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $46.31, for a total transaction of $1,157,750.00. Following the completion of the transaction, the chief executive officer now owns 307,054 shares of the company’s stock, valued at approximately $14,219,670.74. The trade was a 7.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Hollman Meyer sold 50,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $45.96, for a total transaction of $2,298,000.00. Following the transaction, the insider now directly owns 67,592 shares of the company’s stock, valued at approximately $3,106,528.32. This trade represents a 42.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 192,032 shares of company stock valued at $9,512,515. 29.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

JANX has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Janux Therapeutics from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Leerink Partners lifted their price target on shares of Janux Therapeutics from $79.00 to $91.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. UBS Group began coverage on shares of Janux Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target for the company. BTIG Research lifted their price target on shares of Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of Janux Therapeutics in a research note on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $89.90.

Janux Therapeutics Price Performance

JANX stock opened at $61.11 on Monday. Janux Therapeutics, Inc. has a 1-year low of $7.79 and a 1-year high of $71.71. The firm has a fifty day moving average price of $52.73 and a two-hundred day moving average price of $46.80. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -52.23 and a beta of 3.29.

Janux Therapeutics (NASDAQ:JANX) last released its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.18). Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. The company’s revenue for the quarter was down 82.6% compared to the same quarter last year. As a group, analysts expect that Janux Therapeutics, Inc. will post -1.35 EPS for the current fiscal year.

About Janux Therapeutics

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.