Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Juno Therapeutics Inc (JUNO) Shares Spike 27% In Morning Trading: Will Bearish Hedgies Change Their Minds?

How are hedge funds trading Juno Therapeutics Inc (NASDAQ:JUNO)?

According to hedge fund experts at Insider Monkey, Anders Hove and Bong Koh‘s VHCP Management had the biggest position in Juno Therapeutics Inc (NASDAQ:JUNO), worth close to $97 million, amounting to 22.3% of its total 13F portfolio. The second-largest stake is held by Partner Fund Management, managed by Christopher Medlock James, which held a $30.5 million position; the fund has 0.8% of its 13F portfolio invested in the stock. Other members of the smart money that are bullish consist of Peter Kolchinsky’s RA Capital Management, James E. Flynn’s Deerfield Management, and Kris Jenner, Gordon Bussard, and Graham McPhail’s Rock Springs Capital Management.

Because Juno Therapeutics Inc (NASDAQ:JUNO) has experienced falling interest from hedge fund managers, it’s easy to see that there lies a certain “tier” of funds that elected to cut their entire stakes in the first quarter. Interestingly, Israel Englander‘s Millennium Management said goodbye to the largest investment of all the hedgies followed by Insider Monkey, valued at close to $5.8 million and consisting of 110,410 shares, while Stanley Druckenmiller of Duquesne Capital was right behind this move, as the fund manager dumped about $3.7 million worth of shares, 70,000 in all. These bearish behaviors are intriguing to say the least, as total hedge fund interest dropped by six funds in the first quarter.

The bearish behavior of hedge funds, evidenced by fewer hedge funds having long positions in the company and by the reduced value of their holdings when considering share price appreciation in the first quarter by those who still held long positions at the end of the first quarter, lead us to conclude that Juno Therapeutics Inc (NASDAQ:JUNO) may not be a stock to bet on at the moment, even in light of its recent agreement, given the perhaps overly gung-ho reaction of the market.

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.