We recently published a list of Unknown Billionaire Phill Gross’ 10 Stock Picks with Huge Upside Potential. In this article, we are going to take a look at where Janux Therapeutics, Inc. (NASDAQ:JANX) stands against other unknown billionaire Phill Gross’ stock picks with huge upside potential.
Phillip “Phill” Gross is a seasoned investor and influential figure in the world of institutional asset management, best known as the Co-founder, Managing Director, and Healthcare Portfolio Manager of Adage Capital Management. While Robert Atchinson, his longtime collaborator and fellow Co-founder, serves as the firm’s Portfolio Manager, Gross’s leadership and strategic vision have played a foundational role in shaping Adage’s long-term investment philosophy and reputation. The two met in the mid-1980s while working as Harvard University’s endowment analysts. Their professional synergy led them to leave Harvard Management Company in the 1990s, following public scrutiny over performance-based bonuses. With the backing of an initial $1.8 billion investment from Harvard and an agreement for the university to receive 10% of the firm’s earnings, they launched Adage Capital Management in 2001 alongside an 18-person team.
Under Gross’s co-leadership, Adage has become a key player in managing assets for prominent institutional clients such as Harvard University, Dartmouth College, Northwestern University, the American Red Cross, and the Getty Foundation. The firm specializes in long/short equity strategies guided by fundamental analysis and engages in risk arbitrage and event-driven opportunities when market conditions are favourable. Adage Capital Management and its predecessor, the Select Equity Group at Harvard Management Company, have consistently outperformed broader market benchmarks by an average of 3.5% over the past 15 years. This is a testament to the disciplined, research-driven investment framework that Gross helped instill.
Gross himself brings a deep background in healthcare investing, having served for nearly two decades at Harvard Management Company in various roles, including Healthcare and Retail Analyst, Equity Research Director, and Partner. His academic credentials include a B.S. in finance and economics (1982) and an M.S. in investments (1983), both from the University of Wisconsin. He remains actively engaged with his alma mater, serving on the advisory boards of the Steve Hawk Center for Applied Securities Analysis and the Nicholas Center for Applied Corporate Finance. In recognition of his professional accomplishments and ongoing contributions, Gross received the Distinguished Alumnus Award from the University of Wisconsin Business School in 2006.
Beyond finance, Gross is a committed philanthropist. He co-founded Strategic Grant Partners, an organization focused on driving systemic change in education and family services throughout Massachusetts. He also serves as Vice President of the Board of Directors for Youth Enrichment Services, a nonprofit that provides urban youth with outdoor recreational experiences. In addition, he holds board positions with the U.S. Ski and Snowboard Association, where he is Vice-Chair of the Investment Committee, and with the T2 Foundation.
Adage Capital Management’s latest 13F filing for Q4 2024 reported $57.19 billion in managed securities, with the top 10 holdings comprising 31.7% of the total portfolio, demonstrating a strategic yet diversified approach to asset allocation. While Atchinson oversees day-to-day portfolio management, Gross’s enduring influence and expertise, particularly in healthcare investing, continue to shape the firm’s long-term success and institutional credibility.
Our Methodology
We searched through Adage Capital Management’s Q4 2024 13F filings to identify unknown billionaire Phill Gross’ stock picks with the highest upside potential. We compiled the equities with upside potential higher than 34% at the time of writing this article and discussed why they stood out as strong potential investments. Finally, we ranked the stocks based on the ascending order of their upside potential. To assist readers with more context, we mentioned the hedge fund sentiment around each stock using data from 1,009 hedge funds tracked by Insider Monkey in the fourth quarter of 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 363.5% since May 2014, beating its benchmark by 208 percentage points (see more details here).
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Janux Therapeutics, Inc. (NASDAQ:JANX)
Number of Hedge Fund Holders as of Q4: 54
Adage Capital Management’s Equity Stake: $163.93 Million
Upside Potential as of May 2: 189.86%
Janux Therapeutics, Inc. (NASDAQ:JANX) is a clinical-stage biopharmaceutical company dedicated to advancing innovative immunotherapies designed to generate tumor-specific immune responses. The company focuses on therapies that target and destroy cancer cells while sparing healthy tissue, thereby minimizing adverse effects often associated with traditional cancer treatments.
Financially, Janux Therapeutics, Inc. (NASDAQ:JANX) demonstrated a robust capital position at the close of 2024. As of December 31, the company reported $1.03 billion in cash, cash equivalents, and short-term investments, a substantial increase from $344.0 million reported at the end of 2023. This significant boost in financial reserves positions Janux to sustain and accelerate its research efforts over the coming years. The company’s research and development expenses rose to $20.8 million for the fourth quarter and totalled $68.4 million for the year, compared to $12.2 million and $54.9 million for the same periods in 2023, reflecting intensified clinical activity and investment in its pipeline. Likewise, general and administrative expenses grew to $8.2 million for the quarter and $41.0 million for the full year, up from $6.4 million and $26.1 million in the prior year, as the company expanded its operational infrastructure to support clinical development and long-term growth.
Despite increased expenditures, Janux Therapeutics, Inc. (NASDAQ:JANX) reported a net loss of $20.2 million for the fourth quarter and $69.0 million for the full year of 2024, compared to $11.8 million and $58.3 million in 2023. These figures are consistent with a company in the clinical development phase, where investments in research, trials, and infrastructure precede revenue generation. The increased losses correspond with the company’s strategic ramp-up of its therapeutic programs and development pipeline. Janux remains well-capitalized and committed to advancing its mission of delivering transformative immunotherapies that leverage tumor-specific biology to safely and effectively combat cancer.
In the fourth quarter of 2024, Adage Capital Management significantly increased its investment in Janux Therapeutics, Inc. (NASDAQ:JANX), increasing its position to over 3 million shares—a 48% rise from the 2.08 million shares held in the previous quarter. This expansion brought the fund’s total stake in the company to an estimated $1.6 billion.
Overall, JANX ranks 1st on our list of unknown billionaire Phill Gross’ stock picks with huge upside potential. While we acknowledge the potential of JANX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than JANX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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