Shares of Aduro Biotech, Inc. (NASDAQ:ADRO) reached a new 52-week low on Tuesday following a weaker than expected earnings announcement. The company traded as low as $8.00 and last traded at $8.03, with a volume of 366,037 shares trading hands. The stock had previously closed at $8.25.
The biotechnology company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.03). The company had revenue of $3.79 million during the quarter, compared to analyst estimates of $4.04 million. Aduro Biotech had a negative return on equity of 40.04% and a negative net margin of 548.92%. Aduro Biotech’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.54) earnings per share.
A number of research firms have recently commented on ADRO. BidaskClub upgraded shares of Aduro Biotech from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Cowen and Company began coverage on shares of Aduro Biotech in a research note on Tuesday, July 18th. They set an “outperform” rating for the company. Zacks Investment Research downgraded shares of Aduro Biotech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. HC Wainwright set a $18.00 price objective on shares of Aduro Biotech and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Canaccord Genuity set a $30.00 price objective on shares of Aduro Biotech and gave the stock a “buy” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.14.
In other 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 transaction of $431,200.00. Following the completion of the transaction, the chief executive officer now directly 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, VP Blaine Templeman sold 3,557 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $10.99, for a total transaction of $39,091.43. Following the transaction, the vice president now owns 65,275 shares of the company’s stock, valued at $717,372.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 342,745 shares of company stock valued at $3,956,397. Company insiders own 6.60% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Legal & General Group Plc raised its holdings in shares of Aduro Biotech by 11.2% in the 2nd quarter. Legal & General Group Plc now owns 10,359 shares of the biotechnology company’s stock valued at $118,000 after purchasing an additional 1,043 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Aduro Biotech in the 3rd quarter valued at about $127,000. Tudor Investment Corp ET AL raised its holdings in shares of Aduro Biotech by 34.8% in the 1st quarter. Tudor Investment Corp ET AL now owns 15,436 shares of the biotechnology company’s stock valued at $166,000 after purchasing an additional 3,984 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Aduro Biotech by 15.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 15,424 shares of the biotechnology company’s stock valued at $166,000 after purchasing an additional 2,119 shares during the period. Finally, Voya Investment Management LLC raised its holdings in shares of Aduro Biotech by 15.3% in the 2nd quarter. Voya Investment Management LLC now owns 18,935 shares of the biotechnology company’s stock valued at $216,000 after purchasing an additional 2,515 shares during the period. 35.24% of the stock is currently owned by institutional investors.
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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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