Zacks Investment Research cut shares of Juno Therapeutics, Inc. (NASDAQ:JUNO) from a hold rating to a sell rating in a report issued on Monday.

According to Zacks, “Juno reported wider-than-expected loss in second-quarter 2017 with revenue beating estimates. The company suffered a huge setback with discontinuation of the development of cancer candidate, JCAR015, due to the toxicity witnessed in a phase II ROCKET study. Also, increased competition in the immunotherapy space is a matter of concern for the company as several companies are looking to bring these treatments to the market. Juno’s pipeline candidates are still a few steps away from approval and hence, any setback would weigh heavily on the stock. Shares of the company have also underperformed the industry in the last one year. However, the company remains on track with its pipeline and continues to pursue acquisitions and licensing agreements. The company’s deal with Celgene for global development and commercialization of immunotherapies is encouraging.”

A number of other equities analysts have also commented on JUNO. FBR & Co cut their price objective on shares of Juno Therapeutics from $30.00 to $29.00 and set a mkt perform rating on the stock in a report on Friday, May 5th. Wedbush reiterated a neutral rating and issued a $24.00 price objective on shares of Juno Therapeutics in a report on Friday, May 5th. Morgan Stanley cut their price objective on shares of Juno Therapeutics from $27.00 to $26.00 and set an equal weight rating on the stock in a report on Monday, May 8th. Vetr upgraded shares of Juno Therapeutics to a buy rating in a report on Tuesday, May 23rd. Finally, BTIG Research lowered shares of Juno Therapeutics from a neutral rating to a sell rating and boosted their price objective for the stock from $12.00 to $23.00 in a report on Tuesday, June 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $31.86.

Shares of Juno Therapeutics (NASDAQ:JUNO) opened at 41.27 on Monday. The firm has a 50-day moving average price of $29.97 and a 200-day moving average price of $25.69. Juno Therapeutics has a 1-year low of $17.52 and a 1-year high of $43.10. The firm’s market capitalization is $4.33 billion. Juno Therapeutics also was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 6,838 put options on the company. This represents an increase of approximately 977% compared to the average volume of 635 put options.

Juno Therapeutics (NASDAQ:JUNO) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by $0.24. Juno Therapeutics had a negative return on equity of 27.10% and a negative net margin of 354.36%. The firm had revenue of $21.30 million during the quarter, compared to analyst estimates of $15.59 million. During the same quarter in the prior year, the firm earned ($0.64) EPS. The business’s quarterly revenue was down 22.8% compared to the same quarter last year. On average, analysts forecast that Juno Therapeutics will post ($3.12) EPS for the current fiscal year.

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In related news, CFO Steve Harr sold 8,750 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $30.00, for a total transaction of $262,500.00. Following the completion of the sale, the chief financial officer now owns 736,189 shares of the company’s stock, valued at approximately $22,085,670. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Douglas K. Bratton sold 8,000,000 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $27.00, for a total transaction of $216,000,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,066,369 shares of company stock valued at $218,108,557. Insiders own 15.26% of the company’s stock.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Juno Therapeutics by 31,399.7% in the first quarter. BlackRock Inc. now owns 4,183,793 shares of the biopharmaceutical company’s stock worth $92,838,000 after buying an additional 4,170,511 shares in the last quarter. Redmile Group LLC acquired a new stake in shares of Juno Therapeutics during the second quarter worth $66,344,000. Jennison Associates LLC acquired a new stake in shares of Juno Therapeutics during the second quarter worth $22,689,000. Wasatch Advisors Inc. acquired a new stake in shares of Juno Therapeutics during the second quarter worth $19,787,000. Finally, First Trust Advisors LP increased its stake in shares of Juno Therapeutics by 47.1% in the first quarter. First Trust Advisors LP now owns 1,377,667 shares of the biopharmaceutical company’s stock worth $30,570,000 after buying an additional 440,984 shares in the last quarter. 70.76% of the stock is owned by institutional investors and hedge funds.

About Juno Therapeutics

Juno Therapeutics, Inc (Juno) is a biopharmaceutical company, which is focused on developing cellular immunotherapies for the treatment of cancer. The Company is developing cell-based cancer immunotherapies based on its chimeric antigen receptor (CAR) and T cell receptor (TCR) technologies to genetically engineer T cells to recognize and kill cancer cells.

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