Aduro Biotech Inc. (ADRO) Shares Down 2.2%
Aduro Biotech Inc. (NASDAQ:ADRO) shares were down 2.2% during trading on Monday . The company traded as low as $14.22 and last traded at $14.34, with a volume of 310,243 shares changing hands. The stock had previously closed at $14.67.
ADRO has been the topic of a number of analyst reports. FBR & Co reaffirmed a “buy” rating on shares of Aduro Biotech in a research report on Monday, June 6th. Roth Capital reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Aduro Biotech in a research report on Monday, July 11th. Zacks Investment Research downgraded shares of Aduro Biotech from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Aduro Biotech in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Aduro Biotech presently has an average rating of “Hold” and an average price target of $22.00.
The company has a 50 day moving average price of $14.76 and a 200-day moving average price of $13.15. The company’s market capitalization is $936.99 million.
Aduro Biotech (NASDAQ:ADRO) last posted its earnings results on Wednesday, August 3rd. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.21. Aduro Biotech had a negative net margin of 23.69% and a negative return on equity of 9.23%. The company had revenue of $39 million for the quarter, compared to analysts’ expectations of $25.24 million. The business’s revenue was up 306.3% compared to the same quarter last year. On average, equities analysts anticipate that Aduro Biotech Inc. will post ($1.39) earnings per share for the current fiscal year.
In other news, insider Thomas W. Dubensky sold 25,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $15.18, for a total transaction of $379,500.00. Following the sale, the insider now owns 12,500 shares of the company’s stock, valued at $189,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.50% of the company’s stock.
Several hedge funds have recently modified their holdings of ADRO. Acrospire Investment Management LLC boosted its stake in shares of Aduro Biotech by 27.6% in the second quarter. Acrospire Investment Management LLC now owns 9,700 shares of the company’s stock valued at $110,000 after buying an additional 2,100 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Aduro Biotech by 1,850.5% in the second quarter. BlackRock Inc. now owns 12,600 shares of the company’s stock valued at $142,000 after buying an additional 11,954 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new stake in shares of Aduro Biotech during the second quarter valued at about $143,000. Creative Planning acquired a new stake in shares of Aduro Biotech during the second quarter valued at about $158,000. Finally, American International Group Inc. boosted its stake in shares of Aduro Biotech by 317.7% in the second quarter. American International Group Inc. now owns 20,416 shares of the company’s stock valued at $231,000 after buying an additional 15,528 shares in the last quarter. 29.76% of the stock is currently owned by institutional investors and hedge funds.
Aduro Biotech Company Profile
Aduro Biotech, Inc is a clinical-stage immunotherapy company. The Company is focused on the discovery, development and commercialization of therapies that transform the treatment of various diseases. The Company has developed approximately three technology platforms, which include Live, Attenuated, Double-Deleted (LADD), Stimulator of Interferon Genes (STING) Pathway Activator and B-select monoclonal antibodies.
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