Aduro BioTech Inc (ADRO) Expected to Post Quarterly Sales of $4.32 Million
Brokerages predict that Aduro BioTech Inc (NASDAQ:ADRO) will announce sales of $4.32 million for the current quarter, Zacks reports. Four analysts have issued estimates for Aduro BioTech’s earnings, with the highest sales estimate coming in at $6.05 million and the lowest estimate coming in at $3.70 million. Aduro BioTech posted sales of $3.88 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.3%. The business is expected to report its next quarterly earnings results on Wednesday, March 7th.
On average, analysts expect that Aduro BioTech will report full year sales of $4.32 million for the current fiscal year, with estimates ranging from $17.19 million to $19.50 million. For the next fiscal year, analysts forecast that the firm will report sales of $33.03 million per share, with estimates ranging from $15.02 million to $74.82 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Aduro BioTech.
Several research analysts have issued reports on the company. ValuEngine lowered Aduro BioTech from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. BidaskClub lowered Aduro BioTech from a “sell” rating to a “strong sell” rating in a report on Saturday. Canaccord Genuity set a $30.00 price target on Aduro BioTech and gave the stock a “buy” rating in a report on Thursday, December 14th. HC Wainwright set a $18.00 price target on Aduro BioTech and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Oppenheimer cut their price target on Aduro BioTech from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. Aduro BioTech currently has an average rating of “Buy” and a consensus price target of $17.71.
In other news, EVP Dirk G. Brockstedt sold 5,877 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $8.00, for a total value of $47,016.00. Following the completion of the sale, the executive vice president now directly owns 75,533 shares of the company’s stock, valued at $604,264. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen T. Isaacs sold 19,800 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $7.97, for a total value of $157,806.00. Following the completion of the sale, the insider now directly owns 190,321 shares of the company’s stock, valued at $1,516,858.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 223,391 shares of company stock valued at $1,897,707. Company insiders own 6.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Alps Advisors Inc. raised its stake in shares of Aduro BioTech by 12.5% in the fourth quarter. Alps Advisors Inc. now owns 82,678 shares of the biotechnology company’s stock worth $620,000 after purchasing an additional 9,197 shares during the last quarter. Fox Run Management L.L.C. raised its stake in shares of Aduro BioTech by 91.4% in the fourth quarter. Fox Run Management L.L.C. now owns 22,775 shares of the biotechnology company’s stock worth $171,000 after purchasing an additional 10,875 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Aduro BioTech by 2,294.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 24,420 shares of the biotechnology company’s stock worth $183,000 after purchasing an additional 23,400 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Aduro BioTech in the third quarter worth approximately $1,023,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Aduro BioTech in the third quarter worth approximately $516,000. 45.14% of the stock is owned by hedge funds and other institutional investors.
Aduro BioTech Company Profile
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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