SCHEDULE: FMR LLC Maintains 5.8% Stake in Janux Therapeutics

FMR LLC and its affiliates, including Abigail P. Johnson, reported a 5.8% beneficial ownership stake in Janux Therapeutics Inc. common stock as of December 31, 2025.

Summary

• FMR LLC and Abigail P. Johnson beneficially own 3,512,384 shares of JANUX THERAPEUTICS INC common stock.
• This represents 5.8% of the total outstanding common stock of Janux Therapeutics Inc.
• The filing is an Amendment No. 4 to a Schedule 13G, indicating an update to a previously reported ownership stake.
• FMR LLC holds sole voting power over 3,505,856 shares and sole dispositive power over 3,512,384 shares.
• Abigail P. Johnson, as a Director, Chairman, and CEO of FMR LLC, is also deemed to beneficially own these shares with sole dispositive power.
• The filing certifies that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a routine ownership disclosure (Schedule 13G Amendment) and does not contain information that would significantly alter the sentiment towards the company. It confirms a continued significant institutional stake, which is generally neutral to slightly positive.

Positives

• A significant institutional investor, FMR LLC, maintains a substantial 5.8% stake in Janux Therapeutics, indicating continued confidence in the company.

Negatives

• No specific negative information is disclosed in this routine ownership filing.

Risks

• No specific risks related to Janux Therapeutics are mentioned in this ownership disclosure.

Future Outlook

NA

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

This filing is a routine disclosure of a significant ownership stake by a major asset management firm in a biotechnology company. Such disclosures provide transparency regarding institutional holdings, which can be a signal of investor confidence in the company's long-term prospects within the competitive biotech sector.

Comparison to Industry Standards

• FMR LLC, through its various investment advisory and trust company subsidiaries (e.g., FIAM LLC, Fidelity Management & Research Company LLC), is a prominent institutional investor. Their holding of 5.8% in Janux Therapeutics is a substantial stake, typical for large asset managers taking positions in publicly traded companies, particularly in sectors like biotechnology which often attract specialized institutional investment.
• The disclosure of a >5% stake is standard practice for institutional investors under SEC regulations, ensuring transparency in significant ownership positions.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake, potentially signaling confidence.
• Management: Awareness of a large institutional holder's position.

Next Steps

• FMR LLC and Abigail P. Johnson will continue to monitor their beneficial ownership in Janux Therapeutics Inc.
• Further Schedule 13G amendments will be filed if there are material changes to their ownership stake (e.g., crossing a 1% threshold up or down, or a change in intent).

Key Dates

Keywords

Janux Therapeutics, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Ownership Disclosure