HC Wainwright Reiterates $18.00 Price Target for Aduro Biotech, Inc. (ADRO)
ADRO has been the topic of a number of other reports. Zacks Investment Research upgraded Aduro Biotech from a hold rating to a buy rating and set a $13.00 price objective on the stock in a research note on Tuesday, July 4th. Canaccord Genuity restated a buy rating and issued a $30.00 price objective on shares of Aduro Biotech in a research note on Wednesday, May 3rd. BidaskClub upgraded Aduro Biotech from a hold rating to a buy rating in a research note on Tuesday, July 25th. Rodman & Renshaw started coverage on Aduro Biotech in a research note on Monday, May 1st. They issued a buy rating and a $18.00 price objective on the stock. Finally, Cowen and Company started coverage on Aduro Biotech in a research note on Tuesday, July 18th. They issued an outperform rating on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Aduro Biotech currently has a consensus rating of Buy and an average price target of $19.00.
Aduro Biotech (NASDAQ ADRO) opened at 12.25 on Thursday. The company’s market capitalization is $902.53 million. Aduro Biotech has a 52-week low of $8.75 and a 52-week high of $16.43. The company’s 50-day moving average is $12.14 and its 200-day moving average is $10.93.
Aduro Biotech (NASDAQ:ADRO) last issued its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.02. The company had revenue of $5.90 million during the quarter, compared to analysts’ expectations of $3.98 million. Aduro Biotech had a negative return on equity of 43.92% and a negative net margin of 609.58%. Aduro Biotech’s quarterly revenue was down 84.9% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. On average, analysts expect that Aduro Biotech will post ($1.33) earnings per share for the current fiscal year.
In related news, insider Thomas W. Dubensky sold 5,699 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $9.92, for a total value of $56,534.08. Following the sale, the insider now directly owns 41,300 shares in the company, valued at approximately $409,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas W. Dubensky sold 50,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 51,700 shares in the company, valued at $585,761. The disclosure for this sale can be found here. Insiders sold a total of 419,205 shares of company stock worth $4,410,591 over the last 90 days. 6.60% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in ADRO. Legal & General Group Plc boosted its stake in shares of Aduro Biotech by 11.2% in the second quarter. Legal & General Group Plc now owns 10,359 shares of the biotechnology company’s stock valued at $118,000 after buying an additional 1,043 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of Aduro Biotech during the first quarter valued at $145,000. Daiwa SB Investments Ltd. bought a new stake in shares of Aduro Biotech during the first quarter valued at $153,000. Creative Planning boosted its stake in shares of Aduro Biotech by 73.9% in the first quarter. Creative Planning now owns 15,000 shares of the biotechnology company’s stock valued at $161,000 after buying an additional 6,375 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Aduro Biotech by 15.9% in the first quarter. Parametric Portfolio Associates LLC now owns 15,424 shares of the biotechnology company’s stock valued at $166,000 after buying an additional 2,119 shares in the last quarter. Hedge funds and other institutional investors own 35.68% of the company’s stock.
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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