Equities analysts forecast that Aduro BioTech Inc (NASDAQ:ADRO) will announce $4.59 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Aduro BioTech’s earnings, with the lowest sales estimate coming in at $3.52 million and the highest estimate coming in at $6.49 million. Aduro BioTech posted sales of $3.79 million during the same quarter last year, which would indicate a positive year over year growth rate of 21.1%. The business is expected to report its next earnings report on Tuesday, October 30th.
On average, 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 year, analysts forecast that the business will post sales of $31.89 million per share, with estimates ranging from $17.25 million to $55.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Aduro BioTech.
Aduro BioTech (NASDAQ:ADRO) last posted its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.02. Aduro BioTech had a negative net margin of 574.11% and a negative return on equity of 44.97%. The business had revenue of $2.64 million for the quarter, compared to analysts’ expectations of $3.74 million.
Several research firms have recently commented on ADRO. ValuEngine upgraded shares of Aduro BioTech from a “strong sell” rating to a “sell” rating in a report on Friday, June 1st. BidaskClub upgraded shares of Aduro BioTech from a “hold” rating to a “buy” rating in a report on Monday, June 18th. Zacks Investment Research cut shares of Aduro BioTech from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Canaccord Genuity reiterated a “buy” rating and issued a $30.00 price objective on shares of Aduro BioTech in a report on Thursday, August 2nd. Finally, Bank of America decreased their price objective on shares of Aduro BioTech from $8.00 to $6.00 and set an “underperform” rating for the company in a report on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Aduro BioTech presently has a consensus rating of “Hold” and an average price target of $13.67.
In related news, insider Stephen T. Isaacs sold 24,143 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $6.50, for a total value of $156,929.50. Following the completion of the sale, the insider now directly owns 356,996 shares in the company, valued at $2,320,474. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Natalie Sacks sold 4,504 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $7.13, for a total transaction of $32,113.52. Following the completion of the sale, the insider now owns 89,548 shares of the company’s stock, valued at $638,477.24. The disclosure for this sale can be found here. Insiders sold 113,352 shares of company stock valued at $832,661 over the last quarter. 5.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Swiss National Bank boosted its holdings in Aduro BioTech by 14.3% in the first quarter. Swiss National Bank now owns 57,500 shares of the biotechnology company’s stock worth $535,000 after purchasing an additional 7,200 shares in the last quarter. Legal & General Group Plc boosted its holdings in Aduro BioTech by 105.3% during the first quarter. Legal & General Group Plc now owns 22,233 shares of the biotechnology company’s stock valued at $206,000 after acquiring an additional 11,405 shares during the period. MetLife Investment Advisors LLC boosted its holdings in Aduro BioTech by 70.6% during the second quarter. MetLife Investment Advisors LLC now owns 31,799 shares of the biotechnology company’s stock valued at $223,000 after acquiring an additional 13,156 shares during the period. Alps Advisors Inc. boosted its holdings in Aduro BioTech by 14.2% during the second quarter. Alps Advisors Inc. now owns 114,257 shares of the biotechnology company’s stock valued at $800,000 after acquiring an additional 14,187 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Aduro BioTech by 10.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 164,071 shares of the biotechnology company’s stock valued at $1,526,000 after acquiring an additional 14,863 shares during the period. Hedge funds and other institutional investors own 49.01% of the company’s stock.
Aduro BioTech stock opened at $6.20 on Tuesday. Aduro BioTech has a 12 month low of $5.10 and a 12 month high of $11.55. The firm has a market cap of $549.47 million, a PE ratio of -4.37 and a beta of 2.23.
About Aduro BioTech
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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