Aduro BioTech (ADRO) Stock Price Down 1.4% After Insider Selling
Aduro BioTech Inc (NASDAQ:ADRO) dropped 1.4% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $8.85 and last traded at $8.93. Approximately 127,230 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 407,337 shares. The stock had previously closed at $9.05.
Specifically, VP Blaine Templeman sold 3,557 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $10.99, for a total transaction of $39,091.43. Following the completion of the sale, the vice president now directly owns 65,275 shares of the company’s stock, valued at approximately $717,372.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen T. Isaacs sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $10.78, for a total value of $431,200.00. Following the sale, the chief executive officer now directly owns 213,921 shares of the company’s stock, valued at $2,306,068.38. The disclosure for this sale can be found here. Insiders have sold a total of 264,480 shares of company stock valued at $2,484,317 over the last three months. 6.60% of the stock is owned by corporate insiders.
ADRO has been the subject of a number of research analyst reports. BidaskClub lowered Aduro BioTech from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Aduro BioTech in a research note on Wednesday, September 27th. William Blair restated an “outperform” rating on shares of Aduro BioTech in a report on Monday, October 2nd. Finally, Oppenheimer initiated coverage on Aduro BioTech in a report on Monday, October 30th. They set a “buy” rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Aduro BioTech presently has an average rating of “Buy” and a consensus target price of $19.14.
Aduro BioTech (NASDAQ:ADRO) last released its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.03). The firm had revenue of $3.79 million for the quarter, compared to analysts’ expectations of $4.04 million. Aduro BioTech had a negative return on equity of 39.28% and a negative net margin of 548.92%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.54) earnings per share. equities analysts predict that Aduro BioTech Inc will post -1.28 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Aduro BioTech by 283.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 372,348 shares of the biotechnology company’s stock valued at $4,244,000 after acquiring an additional 275,295 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Aduro BioTech by 5.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 145,112 shares of the biotechnology company’s stock valued at $1,560,000 after acquiring an additional 7,812 shares during the period. Vanguard Group Inc. increased its holdings in shares of Aduro BioTech by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 2,382,916 shares of the biotechnology company’s stock valued at $25,617,000 after acquiring an additional 48,840 shares during the period. PDT Partners LLC purchased a new position in shares of Aduro BioTech in the 2nd quarter valued at $570,000. Finally, Baillie Gifford & Co. increased its holdings in shares of Aduro BioTech by 30.8% in the 3rd quarter. Baillie Gifford & Co. now owns 553,090 shares of the biotechnology company’s stock valued at $5,891,000 after acquiring an additional 130,390 shares during the period. Institutional investors own 45.19% of the company’s stock.
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About Aduro BioTech
Aduro Biotech, Inc is an immunotherapy company, which focuses on the discovery, development and commercialization of therapies that manage the treatment of various diseases, including cancer. The Company’s product candidates from its Live, Attenuated, Double-Deleted (LADD) Listeria monocytogenes, Stimulator of Interferon Genes Pathway Activator, and B-select monoclonal antibody platforms are designed to stimulate and/or regulate innate and adaptive immune responses, either as single agents or in combination with conventional therapies, as well as other immunotherapies.
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