Wall Street analysts expect that Aduro BioTech Inc (NASDAQ:ADRO) will post sales of $4.59 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Aduro BioTech’s earnings, with estimates ranging from $3.52 million to $6.49 million. Aduro BioTech posted sales of $3.79 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.1%. The business is expected to announce its next earnings results on Tuesday, October 30th.
According to Zacks, analysts expect that Aduro BioTech will report full year sales of $19.42 million for the current financial year, with estimates ranging from $16.31 million to $23.10 million. For the next financial year, analysts forecast that the company will post sales of $31.89 million per share, with estimates ranging from $17.25 million to $55.10 million. Zacks’ sales averages are an average based on a survey of research firms that follow Aduro BioTech.
Aduro BioTech (NASDAQ:ADRO) last released its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.02. The business had revenue of $2.64 million for the quarter, compared to analysts’ expectations of $3.74 million. Aduro BioTech had a negative return on equity of 44.97% and a negative net margin of 574.11%.
ADRO has been the topic of a number of research reports. ValuEngine cut Aduro BioTech from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 24th. BidaskClub upgraded Aduro BioTech from a “hold” rating to a “buy” rating in a report on Saturday, May 12th. HC Wainwright set a $10.00 price target on Aduro BioTech and gave the stock a “buy” rating in a report on Thursday, April 26th. Bank of America lowered their price target on Aduro BioTech from $8.00 to $6.00 and set an “underperform” rating on the stock in a report on Thursday, August 2nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $30.00 price target on shares of Aduro BioTech in a report on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Aduro BioTech presently has a consensus rating of “Hold” and a consensus price target of $13.67.
Shares of ADRO traded up $0.25 on Wednesday, reaching $6.00. The stock had a trading volume of 294,500 shares, compared to its average volume of 480,601. The stock has a market cap of $446.69 million, a P/E ratio of -4.23 and a beta of 2.06. Aduro BioTech has a twelve month low of $5.10 and a twelve month high of $12.35.
In other Aduro BioTech news, insider Elsas Andrea Van sold 10,454 shares of the stock in a transaction on Tuesday, July 17th. The stock was sold at an average price of $6.96, for a total transaction of $72,759.84. Following the sale, the insider now owns 206,215 shares in the company, valued at approximately $1,435,256.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen T. Isaacs sold 40,000 shares of the stock in a transaction on Friday, June 1st. The shares were sold at an average price of $8.68, for a total value of $347,200.00. Following the sale, the insider now owns 245,746 shares in the company, valued at approximately $2,133,075.28. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.
A number of large investors have recently made changes to their positions in ADRO. Geode Capital Management LLC grew its holdings in Aduro BioTech by 12.4% during the 4th quarter. Geode Capital Management LLC now owns 355,653 shares of the biotechnology company’s stock valued at $2,667,000 after buying an additional 39,356 shares during the last quarter. Teachers Advisors LLC grew its holdings in Aduro BioTech by 22.8% during the 4th quarter. Teachers Advisors LLC now owns 93,042 shares of the biotechnology company’s stock valued at $698,000 after buying an additional 17,296 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in Aduro BioTech by 17.9% during the 4th quarter. TIAA CREF Investment Management LLC now owns 126,577 shares of the biotechnology company’s stock valued at $949,000 after buying an additional 19,236 shares during the last quarter. Millennium Management LLC grew its holdings in Aduro BioTech by 3.8% during the 4th quarter. Millennium Management LLC now owns 298,441 shares of the biotechnology company’s stock valued at $2,238,000 after buying an additional 10,991 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in Aduro BioTech during the 4th quarter valued at $140,000. Hedge funds and other institutional investors own 47.30% of the company’s stock.
Aduro BioTech Company Profile
Aduro BioTech, Inc, an immunotherapy company, focuses on the discovery, development, and commercialization of therapies that transform the treatment of challenging diseases. The company is developing ADU-S100, which is in Phase I monotherapy study, as well as in Phase 1b combination study with an anti-PD1 immune checkpoint inhibitor; ADU-214 that is in Phase I clinical trials for the treatment of lung cancer; and ADU-741 for the treatment of prostate cancer.
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