Aduro BioTech (ADRO) PT Lowered to $10.00

Aduro BioTech (NASDAQ:ADRO) had its target price lowered by Canaccord Genuity from $30.00 to $10.00 in a research report released on Tuesday morning. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other analysts have also recently issued reports about the stock. HC Wainwright set a $10.00 price objective on shares of Aduro BioTech and gave the stock a buy rating in a research note on Thursday, August 2nd. BidaskClub cut shares of Aduro BioTech from a sell rating to a strong sell rating in a research note on Wednesday, August 8th. Bank of America reduced their price objective on shares of Aduro BioTech from $8.00 to $6.00 and set an underperform rating for the company in a research note on Thursday, August 2nd. ValuEngine raised shares of Aduro BioTech from a sell rating to a hold rating in a research note on Monday, October 22nd. Finally, William Blair restated a buy rating on shares of Aduro BioTech in a research report on Wednesday, October 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $9.50.

Shares of NASDAQ ADRO opened at $3.28 on Tuesday. Aduro BioTech has a 1 year low of $3.19 and a 1 year high of $10.00.

Aduro BioTech (NASDAQ:ADRO) last announced its quarterly earnings data on Tuesday, October 30th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.02. The firm had revenue of $3.06 million during the quarter, compared to analysts’ expectations of $4.59 million. Aduro BioTech had a negative net margin of 591.66% and a negative return on equity of 50.03%. Analysts forecast that Aduro BioTech will post -1.13 EPS for the current fiscal year.

In related news, insider Blaine Templeman sold 10,262 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $5.81, for a total transaction of $59,622.22. Following the completion of the transaction, the insider now owns 131,119 shares in the company, valued at $761,801.39. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen T. Isaacs sold 62,572 shares of the company’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $7.91, for a total transaction of $494,944.52. Following the transaction, the insider now owns 221,331 shares of the company’s stock, valued at approximately $1,750,728.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,160 shares of company stock valued at $819,523. 5.00% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of ADRO. Legal & General Group Plc boosted its position in shares of Aduro BioTech by 105.3% during the first 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. Baillie Gifford & Co. lifted its position in Aduro BioTech by 69.6% during the second quarter. Baillie Gifford & Co. now owns 2,810,508 shares of the biotechnology company’s stock valued at $19,673,000 after purchasing an additional 1,153,771 shares during the last quarter. Alps Advisors Inc. lifted its position 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 purchasing an additional 14,187 shares during the last quarter. Rhumbline Advisers lifted its position in Aduro BioTech by 52.2% during the second quarter. Rhumbline Advisers now owns 60,733 shares of the biotechnology company’s stock valued at $425,000 after purchasing an additional 20,821 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Aduro BioTech by 19.8% during the second quarter. Bank of New York Mellon Corp now owns 220,247 shares of the biotechnology company’s stock valued at $1,541,000 after purchasing an additional 36,387 shares during the last quarter. Hedge funds and other institutional investors own 47.90% of the company’s stock.

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.

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Analyst Recommendations for Aduro BioTech (NASDAQ:ADRO)

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