Aduro BioTech (NASDAQ:ADRO) Lowered to Buy at BidaskClub

BidaskClub downgraded shares of Aduro BioTech (NASDAQ:ADRO) from a strong-buy rating to a buy rating in a research note issued to investors on Friday, April 6th.

A number of other brokerages also recently issued reports on ADRO. ValuEngine upgraded Aduro BioTech from a strong sell rating to a sell rating in a research note on Wednesday, March 14th. Oppenheimer dropped their price target on Aduro BioTech from $15.00 to $13.00 and set an outperform rating for the company in a research note on Wednesday, December 13th. HC Wainwright dropped their price target on Aduro BioTech from $18.00 to $9.50 and set a buy rating for the company in a research note on Wednesday, December 13th. Canaccord Genuity set a $30.00 price target on Aduro BioTech and gave the stock a buy rating in a research note on Thursday, December 14th. Finally, Zacks Investment Research downgraded Aduro BioTech from a buy rating to a hold rating in a research report on Wednesday, March 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $14.50.

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Shares of NASDAQ:ADRO opened at $7.20 on Friday. Aduro BioTech has a fifty-two week low of $5.82 and a fifty-two week high of $14.05.

Aduro BioTech (NASDAQ:ADRO) last released its quarterly earnings results on Thursday, March 1st. The biotechnology company reported ($0.35) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.01. Aduro BioTech had a negative net margin of 532.88% and a negative return on equity of 37.86%. The firm had revenue of $3.76 million during the quarter, compared to analyst estimates of $4.32 million. research analysts anticipate that Aduro BioTech will post -1.29 EPS for the current fiscal year.

In other news, insider Stephen T. Isaacs sold 40,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $8.91, for a total transaction of $356,400.00. Following the transaction, the insider now owns 245,746 shares in the company, valued at $2,189,596.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen T. Isaacs sold 72,051 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $8.48, for a total value of $610,992.48. Following the sale, the insider now directly owns 231,380 shares in the company, valued at approximately $1,962,102.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,925 shares of company stock worth $1,011,936. Insiders own 6.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ADRO. Bank of New York Mellon Corp boosted its holdings in Aduro BioTech by 23.9% in the third quarter. Bank of New York Mellon Corp now owns 175,642 shares of the biotechnology company’s stock worth $1,871,000 after acquiring an additional 33,843 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Aduro BioTech in the third quarter worth about $167,000. Trexquant Investment LP purchased a new position in shares of Aduro BioTech in the third quarter worth about $175,000. Wells Fargo & Company MN raised its stake in shares of Aduro BioTech by 111.5% in the third quarter. Wells Fargo & Company MN now owns 72,854 shares of the biotechnology company’s stock worth $776,000 after purchasing an additional 38,415 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Aduro BioTech by 5.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 174,478 shares of the biotechnology company’s stock worth $1,859,000 after purchasing an additional 9,140 shares during the last quarter. 44.91% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Aduro BioTech (NASDAQ:ADRO)

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