Aduro BioTech (NASDAQ:ADRO) had its price objective cut by research analysts at Oppenheimer from $15.00 to $13.00 in a research note issued to investors on Wednesday. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Oppenheimer’s price objective suggests a potential upside of 57.58% from the stock’s previous close. Oppenheimer also issued estimates for Aduro BioTech’s Q1 2019 earnings at ($0.44) EPS, Q2 2019 earnings at ($0.47) EPS and Q3 2019 earnings at ($0.47) EPS.
ADRO has been the topic of a number of other research reports. HC Wainwright set a $18.00 price objective on Aduro BioTech and gave the stock a “buy” rating in a research report on Wednesday, November 1st. William Blair restated an “outperform” rating on shares of Aduro BioTech in a research report on Monday, October 2nd. Finally, BidaskClub downgraded Aduro BioTech from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Aduro BioTech currently has a consensus rating of “Buy” and an average target price of $17.64.
Shares of Aduro BioTech (ADRO) traded up $0.40 during mid-day trading on Wednesday, reaching $8.25. The company had a trading volume of 1,145,500 shares, compared to its average volume of 411,032. Aduro BioTech has a twelve month low of $6.01 and a twelve month high of $14.05.
Aduro BioTech (NASDAQ:ADRO) last issued its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.03). The firm had revenue of $3.79 million for the quarter, compared to the consensus estimate of $4.04 million. Aduro BioTech had a negative return on equity of 39.28% and a negative net margin of 548.92%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.54) EPS. analysts forecast that Aduro BioTech will post -1.28 earnings per share for the current fiscal year.
In related 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 transaction of $431,200.00. Following the transaction, the chief executive officer now directly owns 213,921 shares of the company’s stock, valued at approximately $2,306,068.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stephen T. Isaacs sold 20,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $7.98, for a total value of $161,196.00. Following the transaction, the insider now directly owns 190,321 shares in the company, valued at $1,518,761.58. The disclosure for this sale can be found here. Insiders sold a total of 251,142 shares of company stock worth $2,337,732 over the last three months. 6.60% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc increased its holdings in Aduro BioTech by 11.2% during the 2nd quarter. Legal & General Group Plc now owns 10,359 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 1,043 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Aduro BioTech during the 3rd quarter worth approximately $127,000. SG Americas Securities LLC bought a new stake in Aduro BioTech during the 3rd quarter worth approximately $167,000. Trexquant Investment LP bought a new stake in Aduro BioTech during the 3rd quarter worth approximately $175,000. Finally, Voya Investment Management LLC increased its holdings in Aduro BioTech by 15.3% during the 2nd quarter. Voya Investment Management LLC now owns 18,935 shares of the biotechnology company’s stock worth $216,000 after purchasing an additional 2,515 shares in the last quarter. 45.19% of the stock is owned by hedge funds and other institutional investors.
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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.