Aduro BioTech (NASDAQ:ADRO) had its price target dropped by equities research analysts at HC Wainwright from $18.00 to $9.50 in a research report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 15.85% from the stock’s current price.
The analysts wrote, “All Three Platforms Now Clinical Stage; We Have High Expectations for B-Select Platform B-select investment starts bearing clinical stage candidates. Aduro announced the expected initiation of a Phase 1/2 clinical trial with its anti-APRIL antibody, BION-1301. This two part, open-label study, is being conducted in relapsed or refractory multiple myeloma patients (at least three prior systemic therapies). Once the recommended Phase 2 dose is identified in part 1, patients are to be expanded at the selected dose with the primary endpoint of overall response rate. The APRIL/BCMA pathway was also a hot topic at the recent ASH conference as an encouraging new target against myeloma. A proliferation inducing ligand (APRIL) is one of the main high affinity ligands that binds and activates BCMA resulting in a pro-survival cell signal. APRIL is a member of the TNF family and is overexpressed in patients with multiple myeloma (MM).””
A number of other research firms have also weighed in on ADRO. William Blair restated an “outperform” rating on shares of Aduro BioTech in a report on Monday, October 2nd. Oppenheimer began coverage on shares of Aduro BioTech in a report on Monday, October 30th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, BidaskClub lowered shares of Aduro BioTech from a “hold” rating to a “sell” rating in a report on Saturday, December 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Aduro BioTech presently has an average rating of “Buy” and an average price target of $17.64.
Aduro BioTech (NASDAQ:ADRO) last posted its earnings results on Tuesday, October 31st. The biotechnology company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.03). Aduro BioTech had a negative return on equity of 39.28% and a negative net margin of 548.92%. The business had revenue of $3.79 million during the quarter, compared to analyst estimates of $4.04 million. During the same quarter in the prior year, the company earned ($0.54) EPS. The company’s revenue was up .0% on a year-over-year basis. research analysts forecast that Aduro BioTech will post -1.28 earnings per share for the current fiscal year.
In other Aduro BioTech news, CEO Stephen T. Isaacs sold 40,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $10.78, for a total value of $431,200.00. Following the completion of the sale, the chief executive officer now owns 213,921 shares in the company, valued at approximately $2,306,068.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Dirk G. Brockstedt sold 65,223 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $8.11, for a total transaction of $528,958.53. Following the completion of the sale, the executive vice president now owns 137,826 shares of the company’s stock, valued at approximately $1,117,768.86. The disclosure for this sale can be found here. Insiders sold a total of 313,481 shares of company stock worth $2,834,390 in the last 90 days. 6.60% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of ADRO. Harvard Management Co. Inc. purchased a new stake in Aduro BioTech in the 3rd quarter valued at about $69,418,000. JPMorgan Chase & Co. increased its stake in Aduro BioTech by 283.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 372,348 shares of the biotechnology company’s stock valued at $4,244,000 after buying an additional 275,295 shares during the last quarter. Renaissance Technologies LLC increased its stake in Aduro BioTech by 762.1% in the 1st quarter. Renaissance Technologies LLC now owns 181,900 shares of the biotechnology company’s stock valued at $1,955,000 after buying an additional 160,800 shares during the last quarter. Nexthera Capital LP purchased a new stake in Aduro BioTech in the 2nd quarter valued at about $1,767,000. Finally, Baillie Gifford & Co. increased its stake in Aduro BioTech by 45.8% in the 2nd quarter. Baillie Gifford & Co. now owns 422,700 shares of the biotechnology company’s stock valued at $4,819,000 after buying an additional 132,700 shares during the last quarter. Hedge funds and other institutional investors own 45.19% of the company’s stock.
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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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