Franklin Resources Inc. Grows Position in Janux Therapeutics, Inc. (NASDAQ:JANX)

Franklin Resources Inc. boosted its stake in shares of Janux Therapeutics, Inc. (NASDAQ:JANX) by 64.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,983 shares of the company’s stock after purchasing an additional 7,442 shares during the period. Franklin Resources Inc.’s holdings in Janux Therapeutics were worth $937,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in shares of Janux Therapeutics by 202.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock worth $10,639,000 after buying an additional 156,675 shares during the period. Ally Bridge Group NY LLC purchased a new position in shares of Janux Therapeutics in the 3rd quarter worth about $4,943,000. Algert Global LLC acquired a new position in shares of Janux Therapeutics in the 3rd quarter valued at about $1,112,000. FMR LLC grew its holdings in shares of Janux Therapeutics by 0.6% during the 3rd quarter. FMR LLC now owns 7,824,675 shares of the company’s stock worth $355,475,000 after purchasing an additional 47,075 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in Janux Therapeutics during the 3rd quarter worth approximately $940,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on JANX shares. Leerink Partnrs upgraded shares of Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. HC Wainwright raised their price objective on Janux Therapeutics from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Lifesci Capital upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Friday. Scotiabank increased their target price on Janux Therapeutics from $42.00 to $62.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 4th. Finally, BTIG Research boosted their price target on Janux Therapeutics from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Janux Therapeutics presently has a consensus rating of “Buy” and an average target price of $89.90.

Insider Buying and Selling at Janux Therapeutics

In other Janux Therapeutics news, Director Ra Capital Management, L.P. acquired 1,200,000 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average price of $44.75 per share, with a total value of $53,700,000.00. Following the transaction, the director now directly owns 9,317,246 shares in the company, valued at approximately $416,946,758.50. This represents a 14.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ventures Xi L.P. Avalon sold 958 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $46.24, for a total transaction of $44,297.92. Following the sale, the insider now owns 6,887 shares in the company, valued at approximately $318,454.88. This trade represents a 12.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,801 shares of company stock worth $5,174,735 over the last quarter. 29.40% of the stock is owned by corporate insiders.

Janux Therapeutics Trading Down 1.9 %

Shares of NASDAQ:JANX opened at $54.10 on Friday. Janux Therapeutics, Inc. has a 12-month low of $7.79 and a 12-month high of $71.71. The firm has a market cap of $2.84 billion, a PE ratio of -46.24 and a beta of 3.29. The company has a fifty day simple moving average of $54.43 and a 200 day simple moving average of $47.46.

Janux Therapeutics (NASDAQ:JANX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The company had revenue of $0.44 million during the quarter, compared to analyst estimates of $1.50 million. Janux Therapeutics had a negative net margin of 463.91% and a negative return on equity of 10.47%. The business’s revenue was down 82.6% on a year-over-year basis. As a group, equities research analysts forecast 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.