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

Irenic Capital Management LP acquired a new position in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 765,804 shares of the company’s stock, valued at approximately $10,645,000. Janux Therapeutics comprises about 0.7% of Irenic Capital Management LP’s holdings, making the stock its 25th biggest holding. Irenic Capital Management LP owned about 1.26% of Janux Therapeutics at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Janux Therapeutics in the 4th quarter valued at about $34,000. Osaic Holdings Inc. lifted its stake in Janux Therapeutics by 704.6% in the second quarter. Osaic Holdings Inc. now owns 3,468 shares of the company’s stock valued at $80,000 after buying an additional 3,037 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Janux Therapeutics in the fourth quarter valued at approximately $51,000. Tower Research Capital LLC TRC boosted its holdings in shares of Janux Therapeutics by 175.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,928 shares of the company’s stock valued at $91,000 after acquiring an additional 2,502 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Janux Therapeutics by 185.1% during the second quarter. BNP Paribas Financial Markets now owns 7,673 shares of the company’s stock worth $177,000 after acquiring an additional 4,982 shares during the last quarter. Institutional investors and hedge funds own 75.39% of the company’s stock.

Wall Street Analyst Weigh In

JANX has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Janux Therapeutics in a report on Monday, July 20th. Piper Sandler lowered their price objective on shares of Janux Therapeutics from $30.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Guggenheim dropped their price objective on shares of Janux Therapeutics from $68.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Evercore set a $22.00 target price on shares of Janux Therapeutics in a research note on Monday, May 11th. Finally, Truist Financial reissued a “buy” rating and set a $26.00 price target (down from $80.00) on shares of Janux Therapeutics in a report on Thursday, June 25th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.08.

Janux Therapeutics Price Performance

NASDAQ JANX opened at $15.00 on Wednesday. The business has a 50 day moving average price of $14.86 and a 200 day moving average price of $14.35. The company has a market capitalization of $914.70 million, a P/E ratio of -8.15 and a beta of 2.52. Janux Therapeutics, Inc. has a 1-year low of $12.12 and a 1-year high of $35.34.

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

Insider Activity

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

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.