Insider Selling: Aduro Biotech Inc. (ADRO) CEO Sells $345,548.91 in Stock
Aduro Biotech Inc. (NASDAQ:ADRO) CEO Stephen T. Isaacs sold 27,273 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $12.67, for a total transaction of $345,548.91. Following the completion of the transaction, the chief executive officer now owns 129,473 shares of the company’s stock, valued at approximately $1,640,422.91. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Aduro Biotech Inc. (NASDAQ:ADRO) opened at 12.73 on Monday. The firm’s market cap is $824.32 million. The company’s 50-day moving average is $13.99 and its 200-day moving average is $13.10. Aduro Biotech Inc. has a 52 week low of $7.26 and a 52 week high of $34.95.
Aduro Biotech (NASDAQ:ADRO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.21. The firm had revenue of $39 million for the quarter, compared to analysts’ expectations of $25.24 million. Aduro Biotech had a negative net margin of 23.69% and a negative return on equity of 9.23%. The firm’s revenue for the quarter was up 306.3% on a year-over-year basis. Analysts forecast that Aduro Biotech Inc. will post ($1.39) EPS for the current fiscal year.
ADRO has been the subject of several research analyst reports. Roth Capital restated a “buy” rating and issued a $22.00 target price on shares of Aduro Biotech in a report on Monday, July 11th. Zacks Investment Research cut shares of Aduro Biotech from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Finally, Canaccord Genuity restated a “buy” rating and issued a $30.00 target price on shares of Aduro Biotech in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $22.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its position in shares of Aduro Biotech by 198.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 65,571 shares of the company’s stock worth $742,000 after buying an additional 43,636 shares during the period. American Century Companies Inc. acquired a new position in shares of Aduro Biotech during the second quarter worth $1,265,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Aduro Biotech during the second quarter worth $312,000. QVT Financial LP acquired a new position in shares of Aduro Biotech during the second quarter worth $2,171,000. Finally, AQR Capital Management LLC acquired a new position in shares of Aduro Biotech during the second quarter worth $821,000. 29.76% of the stock is currently owned by hedge funds and other institutional investors.
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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