Wall Street brokerages expect that Aduro BioTech Inc (NASDAQ:ADRO) will report sales of $4.32 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Aduro BioTech’s earnings, with the lowest sales estimate coming in at $3.70 million and the highest estimate coming in at $6.05 million. Aduro BioTech reported sales of $3.88 million in the same quarter last year, which indicates a positive year over year growth rate of 11.3%. The firm is expected to announce its next quarterly earnings results on Wednesday, March 7th.
On average, analysts expect that Aduro BioTech will report full year sales of $4.32 million for the current year, with estimates ranging from $17.19 million to $19.50 million. For the next fiscal year, analysts anticipate that the firm will post sales of $33.03 million per share, with estimates ranging from $15.02 million to $74.82 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Aduro BioTech.
Several equities analysts have commented on the stock. HC Wainwright set a $18.00 price target on shares of Aduro BioTech and gave the company a “buy” rating in a research note on Wednesday, November 1st. Oppenheimer dropped their price target on shares of Aduro BioTech from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 13th. BidaskClub lowered shares of Aduro BioTech from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 3rd. Finally, Canaccord Genuity set a $30.00 price target on shares of Aduro BioTech and gave the company a “buy” rating in a research note on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Aduro BioTech presently has an average rating of “Buy” and an average price target of $17.71.
In other news, insider Stephen T. Isaacs sold 19,800 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $7.97, for a total transaction of $157,806.00. Following the transaction, the insider now directly owns 190,321 shares in the company, valued at $1,516,858.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Gregory W. Schafer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $7.61, for a total transaction of $152,200.00. Following the transaction, the chief operating officer now owns 190,745 shares in the company, valued at $1,451,569.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 205,176 shares of company stock worth $1,752,625. Insiders own 6.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Harvard Management Co. Inc. purchased a new position in shares of Aduro BioTech during the third quarter worth approximately $69,418,000. Vanguard Group Inc. lifted its holdings in shares of Aduro BioTech by 5.4% during the second quarter. Vanguard Group Inc. now owns 2,511,995 shares of the biotechnology company’s stock worth $28,637,000 after purchasing an additional 129,079 shares during the period. State Street Corp lifted its holdings in shares of Aduro BioTech by 8.3% during the second quarter. State Street Corp now owns 684,699 shares of the biotechnology company’s stock worth $7,808,000 after purchasing an additional 52,597 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Aduro BioTech by 30.8% during the third quarter. Baillie Gifford & Co. now owns 553,090 shares of the biotechnology company’s stock worth $5,891,000 after purchasing an additional 130,390 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Aduro BioTech by 15.1% during the second quarter. Northern Trust Corp now owns 453,115 shares of the biotechnology company’s stock worth $5,166,000 after purchasing an additional 59,490 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.
Shares of Aduro BioTech (NASDAQ:ADRO) traded up $0.05 during trading on Wednesday, reaching $6.10. 886,973 shares of the company’s stock traded hands, compared to its average volume of 538,847. The stock has a market capitalization of $467.69, a price-to-earnings ratio of -4.49 and a beta of 3.01. Aduro BioTech has a one year low of $5.82 and a one year high of $14.05.
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About Aduro BioTech
Aduro Biotech, Inc is an immunotherapy company, which focuses on the discovery, development and commercialization of therapies that manage the treatment of various diseases, including cancer. The Company’s product candidates from its Live, Attenuated, Double-Deleted (LADD) Listeria monocytogenes, Stimulator of Interferon Genes Pathway Activator, and B-select monoclonal antibody platforms are designed to stimulate and/or regulate innate and adaptive immune responses, either as single agents or in combination with conventional therapies, as well as other immunotherapies.
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