Why Juno Therapeutics Stock Is Blasting Off Today

Shares of Juno Therapeutics (NASDAQ: JUNO) are up by double digits for the second day in a row on extremely heavy volume. The catalyst behind this continued surge higher is the nearly $12 billion buyout of rival adoptive cell therapy company Kite Pharma (NASDAQ: KITE) by Gilead Sciences (NASDAQ: GILD) yesterday.

As of 1:26 p.m. EDT, investors have already bid up Juno's shares by another 18%. If this sizable move northward holds -- and all signs indicate that it will -- Juno's shares will end up gaining 40% in just the first two trading sessions of this week.

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Source: Fool.com