Is Juno Therapeutics Inc (JUNO) A Good Stock To Buy?

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As one would reasonably expect, key hedge funds have been driving this bullishness. Partner Fund Management established the most valuable position in Juno Therapeutics Inc (NASDAQ:JUNO). Stanley Druckenmiller’s Duquesne Capital also made a $14.8 million investment in the stock during the quarter. The other funds with brand new JUNO positions are Principal Global Investors’ Columbus Circle Investors, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Ken Griffin’s Citadel Investment Group.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Juno Therapeutics Inc (NASDAQ:JUNO) but similarly valued. These stocks are Graphic Packaging Holding Company (NYSE:GPK), Eaton Vance Corp (NYSE:EV), Retail Properties of America Inc (NYSE:RPAI), and Columbia Sportswear Company (NASDAQ:COLM). This group of stocks’ market values resemble JUNO’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GPK 32 936168 -4
EV 9 15421 -1
RPAI 14 234056 -5
COLM 17 107668 -3

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $323 million. That figure was $83 million in JUNO’s case. Graphic Packaging Holding Company (NYSE:GPK) is the most popular stock in this table. On the other hand Eaton Vance Corp (NYSE:EV) is the least popular one with only 9 bullish hedge fund positions. Juno Therapeutics Inc (NASDAQ:JUNO) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard GPK might be a better candidate to consider taking a long position in.

Disclosure: None

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