Alliancebernstein L.P. Cuts Stake in Aduro Biotech, Inc. (NASDAQ:ADRO)
Alliancebernstein L.P. lowered its position in Aduro Biotech, Inc. (NASDAQ:ADRO) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,100 shares of the biotechnology company’s stock after selling 3,300 shares during the period. Alliancebernstein L.P.’s holdings in Aduro Biotech were worth $442,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Aduro Biotech during the fourth quarter worth about $3,266,000. Foundry Partners LLC raised its stake in shares of Aduro Biotech by 46.6% in the first quarter. Foundry Partners LLC now owns 113,575 shares of the biotechnology company’s stock worth $1,221,000 after buying an additional 36,123 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Aduro Biotech during the fourth quarter worth $324,000. Renaissance Technologies LLC purchased a new stake in shares of Aduro Biotech during the fourth quarter worth $241,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Aduro Biotech during the first quarter worth $202,000. Institutional investors own 35.60% of the company’s stock.
Shares of Aduro Biotech, Inc. (ADRO) traded up 1.35% during midday trading on Friday, hitting $11.30. 10,709 shares of the stock were exchanged. Aduro Biotech, Inc. has a 12-month low of $8.75 and a 12-month high of $16.15. The firm has a 50 day moving average of $12.44 and a 200 day moving average of $10.98. The firm’s market cap is $843.12 million.
Aduro Biotech (NASDAQ:ADRO) last posted its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.02. Aduro Biotech had a negative return on equity of 43.92% and a negative net margin of 609.58%. The firm had revenue of $5.90 million for the quarter, compared to analyst estimates of $3.98 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The company’s revenue for the quarter was down 84.9% on a year-over-year basis. Equities analysts forecast that Aduro Biotech, Inc. will post ($1.37) EPS for the current fiscal year.
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ADRO has been the topic of a number of analyst reports. BidaskClub upgraded shares of Aduro Biotech from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Aduro Biotech from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, July 4th. Rodman & Renshaw initiated coverage on shares of Aduro Biotech in a report on Monday, May 1st. They issued a “buy” rating and a $18.00 price objective on the stock. Cowen and Company initiated coverage on shares of Aduro Biotech in a report on Tuesday, July 18th. They issued an “outperform” rating on the stock. Finally, HC Wainwright set a $18.00 price objective on shares of Aduro Biotech and gave the company a “buy” rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Aduro Biotech currently has an average rating of “Buy” and a consensus price target of $19.00.
In other news, CEO Stephen T. Isaacs sold 40,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $12.19, for a total transaction of $487,600.00. Following the transaction, the chief executive officer now directly owns 144,025 shares of the company’s stock, valued at $1,755,664.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Gregory W. Schafer sold 25,811 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $12.17, for a total transaction of $314,119.87. Following the transaction, the chief operating officer now directly owns 133,879 shares in the company, valued at $1,629,307.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 527,917 shares of company stock worth $5,766,939. Corporate insiders own 6.60% 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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