Aduro BioTech (NASDAQ:ADRO) Shares Up 6.1%

Aduro BioTech Inc (NASDAQ:ADRO)’s stock price shot up 6.1% during trading on Thursday . The stock traded as high as $1.44 and last traded at $1.40, 354,149 shares were traded during trading. A decline of 37% from the average session volume of 559,929 shares. The stock had previously closed at $1.32.

Several research firms recently commented on ADRO. Oppenheimer lowered shares of Aduro BioTech from an “outperform” rating to a “market perform” rating in a research note on Monday, June 3rd. Cowen reissued a “buy” rating on shares of Aduro BioTech in a research note on Friday. BidaskClub raised shares of Aduro BioTech from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Svb Leerink reissued an “outperform” rating and set a $9.00 price objective on shares of Aduro BioTech in a research note on Monday, April 15th. Finally, CIBC reissued a “market perform” rating on shares of Aduro BioTech in a research note on Monday, June 3rd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.01.

The company has a quick ratio of 9.11, a current ratio of 9.11 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $108.05 million, a price-to-earnings ratio of -1.16 and a beta of 1.48. The stock has a fifty day moving average price of $1.57.

Aduro BioTech (NASDAQ:ADRO) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.05). The firm had revenue of $4.89 million during the quarter, compared to analysts’ expectations of $4.56 million. Aduro BioTech had a negative return on equity of 63.81% and a negative net margin of 784.73%. Equities research analysts forecast that Aduro BioTech Inc will post -0.92 EPS for the current year.

Institutional investors have recently modified their holdings of the business. D. E. Shaw & Co. Inc. purchased a new position in Aduro BioTech in the fourth quarter worth about $107,000. Geode Capital Management LLC raised its holdings in Aduro BioTech by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 627,397 shares of the biotechnology company’s stock worth $1,656,000 after buying an additional 63,447 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Aduro BioTech by 2,060.2% in the first quarter. BNP Paribas Arbitrage SA now owns 13,631 shares of the biotechnology company’s stock worth $54,000 after buying an additional 13,000 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Aduro BioTech by 17.6% in the fourth quarter. Bank of New York Mellon Corp now owns 263,127 shares of the biotechnology company’s stock worth $695,000 after buying an additional 39,343 shares during the last quarter. Finally, Bailard Inc. purchased a new position in Aduro BioTech in the first quarter worth about $100,000. 41.76% of the stock is owned by institutional investors and hedge funds.

About Aduro BioTech (NASDAQ:ADRO)

Aduro BioTech, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies to harness the body's natural immune system for the treatment of patients with challenging diseases. The company is developing ADU-S100, which is in Phase I dose escalation and dose expansion clinical trial and Phase Ib dose escalation and dose expansion clinical trial in combination with spartalizumab to treat patients with advanced, metastatic treatment-refractory solid tumors; Phase I clinical trial in combination with ipilimumab for the treatment of relapsed and refractory melanoma; and Phase Ib/II clinical trial in combination with an approved anti-PD-1 antibody in patients with squamous cell carcinoma of the head and neck.

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