Juno Therapeutics, Inc. was a big mover last session, as the company saw its shares rise over 20% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company — as the stock is now up 54.1% in the past one-month time frame.
The upmove could have been driven by Gilead Sciences’ acquisition of Kite Pharma, which marks a large investment by Gilead into a cancer treatment called chimeric antigen receptor T-cell therapy, or CAR-T. Juno Therapeutics is presently working in CAR-T therapy.
The company has seen three negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Juno Therapeutics currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Investors interested in the Medical - Biomedical and Genetics industry may consider a better-ranked stock like Alexion Pharmaceuticals, Inc. (ALXN - Free Report) , which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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