BidaskClub Lowers Aduro BioTech (ADRO) to Sell
BidaskClub downgraded shares of Aduro BioTech (NASDAQ:ADRO) from a hold rating to a sell rating in a research report sent to investors on Saturday.
ADRO has been the topic of several other research reports. HC Wainwright set a $18.00 price objective on Aduro BioTech and gave the company a buy rating in a research note on Wednesday, November 1st. Oppenheimer started coverage on Aduro BioTech in a research note on Monday, October 30th. They issued a buy rating and a $15.00 price objective on the stock. Finally, William Blair restated an outperform rating on shares of Aduro BioTech in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $19.14.
Shares of Aduro BioTech (ADRO) opened at $7.85 on Friday. Aduro BioTech has a 52 week low of $6.01 and a 52 week high of $14.05.
Aduro BioTech (NASDAQ:ADRO) last released its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.03). The business had revenue of $3.79 million during the quarter, compared to the consensus estimate of $4.04 million. Aduro BioTech had a negative net margin of 548.92% and a negative return on equity of 39.28%. Aduro BioTech’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.54) EPS. sell-side analysts expect that Aduro BioTech will post -1.28 EPS for the current fiscal year.
In other news, CEO Stephen T. Isaacs sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $10.78, for a total value of $431,200.00. Following the transaction, the chief executive officer now owns 213,921 shares of the company’s stock, valued at $2,306,068.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elsas Andrea Van sold 4,922 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $10.99, for a total value of $54,092.78. Following the completion of the transaction, the insider now directly owns 212,153 shares in the company, valued at approximately $2,331,561.47. The disclosure for this sale can be found here. Insiders sold 264,480 shares of company stock worth $2,484,317 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of ADRO. Harvard Management Co. Inc. acquired a new position in shares of Aduro BioTech in the third quarter valued at approximately $69,418,000. JPMorgan Chase & Co. grew its position in shares of Aduro BioTech by 283.7% in the second quarter. JPMorgan Chase & Co. now owns 372,348 shares of the biotechnology company’s stock valued at $4,244,000 after purchasing an additional 275,295 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Aduro BioTech by 762.1% in the first quarter. Renaissance Technologies LLC now owns 181,900 shares of the biotechnology company’s stock valued at $1,955,000 after purchasing an additional 160,800 shares during the last quarter. Nexthera Capital LP acquired a new position in shares of Aduro BioTech in the second quarter valued at approximately $1,767,000. Finally, Baillie Gifford & Co. grew its position in shares of Aduro BioTech by 45.8% in the second quarter. Baillie Gifford & Co. now owns 422,700 shares of the biotechnology company’s stock valued at $4,819,000 after purchasing an additional 132,700 shares during the last quarter. 45.19% of the stock is currently owned by institutional investors.
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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