BidaskClub Downgrades Aduro BioTech (ADRO) to Hold

Aduro BioTech (NASDAQ:ADRO) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Aduro BioTech from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Canaccord Genuity reiterated a “buy” rating on shares of Aduro BioTech in a research note on Friday, March 2nd. HC Wainwright set a $10.00 price objective on shares of Aduro BioTech and gave the company a “buy” rating in a research note on Thursday, May 3rd. Zacks Investment Research upgraded shares of Aduro BioTech from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research note on Tuesday, March 6th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $15.00 price objective on shares of Aduro BioTech in a research note on Monday, March 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $13.92.

Shares of ADRO stock opened at $8.20 on Tuesday. Aduro BioTech has a 12-month low of $5.82 and a 12-month high of $14.05.

Aduro BioTech (NASDAQ:ADRO) last issued its quarterly earnings results on Wednesday, May 2nd. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.07. Aduro BioTech had a negative net margin of 455.58% and a negative return on equity of 39.00%. The company had revenue of $6.63 million during the quarter, compared to analyst estimates of $3.88 million. analysts expect that Aduro BioTech will post -1.27 earnings per share for the current fiscal year.

In other Aduro BioTech news, CEO Stephen T. Isaacs sold 40,000 shares of the firm’s stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $8.01, for a total value of $320,400.00. Following the completion of the transaction, the chief executive officer now directly owns 211,434 shares of the company’s stock, valued at approximately $1,693,586.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Elsas Andrea Van sold 6,874 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $6.48, for a total transaction of $44,543.52. Following the completion of the transaction, the insider now directly owns 216,669 shares of the company’s stock, valued at $1,404,015.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,925 shares of company stock valued at $1,348,636. Insiders own 5.00% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Swiss National Bank lifted its holdings in shares of Aduro BioTech by 14.3% during the 1st quarter. Swiss National Bank now owns 57,500 shares of the biotechnology company’s stock worth $535,000 after acquiring an additional 7,200 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Aduro BioTech by 12.5% during the 4th quarter. Alps Advisors Inc. now owns 82,678 shares of the biotechnology company’s stock worth $620,000 after acquiring an additional 9,197 shares during the last quarter. Fox Run Management L.L.C. lifted its holdings in shares of Aduro BioTech by 91.4% during the 4th quarter. Fox Run Management L.L.C. now owns 22,775 shares of the biotechnology company’s stock worth $171,000 after acquiring an additional 10,875 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Aduro BioTech by 3.8% during the 4th quarter. Millennium Management LLC now owns 298,441 shares of the biotechnology company’s stock worth $2,238,000 after acquiring an additional 10,991 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Aduro BioTech by 105.3% during the 1st quarter. Legal & General Group Plc now owns 22,233 shares of the biotechnology company’s stock worth $206,000 after acquiring an additional 11,405 shares during the last quarter. 46.44% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Aduro BioTech (NASDAQ:ADRO)

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