Aduro Biotech, Inc. (NASDAQ:ADRO) Given a $30.00 Price Target by Canaccord Genuity Analysts
Aduro Biotech, Inc. (NASDAQ:ADRO) has been assigned a $30.00 price target by stock analysts at Canaccord Genuity in a research report issued on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity’s target price points to a potential upside of 144.90% from the company’s current price.
Several other research firms also recently weighed in on ADRO. BidaskClub upgraded Aduro Biotech from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Cowen and Company began coverage on Aduro Biotech in a research report on Tuesday, July 18th. They issued an “outperform” rating on the stock. Zacks Investment Research downgraded Aduro Biotech from a “buy” rating to a “hold” rating in a research report on Wednesday. HC Wainwright set a $18.00 price objective on Aduro Biotech and gave the company a “buy” rating in a research report on Thursday. Finally, Rodman & Renshaw began coverage on Aduro Biotech in a research report on Monday, May 1st. They issued a “buy” rating and a $18.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Aduro Biotech has an average rating of “Buy” and a consensus target price of $19.00.
Shares of Aduro Biotech (NASDAQ ADRO) traded up 2.94% during trading on Thursday, reaching $12.25. The company’s stock had a trading volume of 362,185 shares. Aduro Biotech has a 12-month low of $8.75 and a 12-month high of $16.43. The company’s market cap is $902.53 million. The company has a 50 day moving average of $12.14 and a 200 day moving average of $10.93.
Aduro Biotech (NASDAQ:ADRO) last released its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.02. The company had revenue of $5.90 million for the quarter, compared to analysts’ expectations of $3.98 million. Aduro Biotech had a negative net margin of 609.58% and a negative return on equity of 43.92%. Aduro Biotech’s revenue for the quarter was down 84.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. On average, analysts anticipate that Aduro Biotech will post ($1.33) EPS for the current fiscal year.
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In other 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 transaction, the insider now directly owns 41,300 shares in the company, valued at $409,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen T. Isaacs sold 10,600 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $10.01, for a total value of $106,106.00. The disclosure for this sale can be found here. Insiders sold 419,205 shares of company stock worth $4,410,591 over the last 90 days. Company insiders own 6.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Blair William & Co. IL boosted its stake in shares of Aduro Biotech by 0.4% in the first quarter. Blair William & Co. IL now owns 189,790 shares of the biotechnology company’s stock valued at $2,135,000 after buying an additional 735 shares during the period. 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 during the period. Bank of New York Mellon Corp boosted its stake in shares of Aduro Biotech by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 148,166 shares of the biotechnology company’s stock valued at $1,593,000 after buying an additional 5,470 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in shares of Aduro Biotech during the first quarter valued at about $145,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Aduro Biotech during the first quarter valued at about $202,000. Institutional investors and hedge funds own 35.68% 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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