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Revisiting Juno: Sentiment Finally Changed


In July, I advocated Juno Therapeutics based on its broad pipeline potential and recent selloff.

Shortly after I wrote that article, biotech had a horrible quarter, leading Juno to a low of $33.

Since then, sentiment has finally changed and Juno is climbing up steadily.

I reiterate my bullish stance on Juno.

When I wrote my last article on Juno (NASDAQ:JUNO) in late July, I did not anticipate that the worst was yet to come for speculative biotech. At a price of ~$48.50, I recommended buying Juno on the basis of its weak performance compared to its CAR-T competitors in the CAR-T space, namely (NASDAQ:KITE). Since then, smaller biotechnology companies in the cancer-immunotherapy space experienced a period of enormous volatility from August to mid-October. In this article, I will not reiterate my analysis of Juno's therapeutic potential. Instead, I want to point towards the sentiment change towards Juno that I have been waiting for.

Juno and its competitors like Bluebird Bio (NASDAQ:BLUE) were essentially gapping down every day. This was triggered by general stock market weakness due to concerns over the Chinese economy, leading to massive capital outflows from speculative holdings in various sectors. To...