Aduro Biotech, Inc. (NASDAQ:ADRO) Upgraded to “Buy” by BidaskClub
BidaskClub upgraded shares of Aduro Biotech, Inc. (NASDAQ:ADRO) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.
Other equities analysts have also recently issued reports about the company. HC Wainwright started coverage on Aduro Biotech in a report on Monday, May 1st. They issued a buy rating and a $18.00 price target for the company. Rodman & Renshaw started coverage on Aduro Biotech in a report on Monday, May 1st. They issued a buy rating and a $18.00 price target for the company. Canaccord Genuity set a $30.00 price target on Aduro Biotech and gave the stock a buy rating in a report on Monday, March 27th. Zacks Investment Research raised Aduro Biotech from a hold rating to a buy rating and set a $13.00 price target for the company in a report on Tuesday, July 4th. Finally, Cowen and Company started coverage on Aduro Biotech in a report on Tuesday, July 18th. They issued an outperform rating for the company. Nine equities research analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and an average target price of $19.00.
Shares of Aduro Biotech (ADRO) traded down 1.13% during mid-day trading on Tuesday, hitting $13.10. The company’s stock had a trading volume of 370,422 shares. The stock has a 50-day moving average of $12.03 and a 200-day moving average of $10.94. The company’s market cap is $915.86 million. Aduro Biotech has a 12-month low of $8.75 and a 12-month high of $16.43.
Aduro Biotech (NASDAQ:ADRO) last posted its earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.32) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.07. The company had revenue of $3.77 million for the quarter, compared to the consensus estimate of $3.74 million. Aduro Biotech had a negative return on equity of 35.35% and a negative net margin of 166.85%. On average, equities research analysts forecast that Aduro Biotech will post ($1.41) EPS for the current year.
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In related news, insider Thomas W. Dubensky sold 144,301 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $10.03, for a total value of $1,447,339.03. Following the completion of the transaction, the insider now directly owns 117,871 shares in the company, valued at $1,182,246.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas W. Dubensky sold 50,000 shares of the company’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $11.33, for a total value of $566,500.00. Following the completion of the transaction, the insider now owns 51,700 shares of the company’s stock, valued at $585,761. The disclosure for this sale can be found here. Over the last three months, insiders sold 419,205 shares of company stock valued at $4,410,591. Insiders own 6.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new position in Aduro Biotech during the second quarter valued at approximately $408,000. Goldman Sachs Group Inc. raised its position in Aduro Biotech by 330.5% in the first quarter. Goldman Sachs Group Inc. now owns 236,721 shares of the biotechnology company’s stock valued at $2,545,000 after buying an additional 181,734 shares during the last quarter. Tudor Investment Corp ET AL raised its position in Aduro Biotech by 34.8% in the first quarter. Tudor Investment Corp ET AL now owns 15,436 shares of the biotechnology company’s stock valued at $166,000 after buying an additional 3,984 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in Aduro Biotech during the first quarter valued at approximately $853,000. Finally, Schwab Charles Investment Management Inc. raised its position in Aduro Biotech by 5.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 145,112 shares of the biotechnology company’s stock valued at $1,560,000 after buying an additional 7,812 shares during the last quarter. Hedge funds and other institutional investors own 35.65% of the company’s stock.
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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