Aduro BioTech Inc (NASDAQ:ADRO) – Stock analysts at Oppenheimer dropped their FY2023 earnings per share estimates for shares of Aduro BioTech in a research report issued to clients and investors on Tuesday, December 17th, Zacks Investment Research reports. Oppenheimer analyst M. Breidenbach now anticipates that the biotechnology company will earn ($0.87) per share for the year, down from their prior estimate of ($0.65).
Aduro BioTech (NASDAQ:ADRO) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. The company had revenue of $4.80 million during the quarter, compared to the consensus estimate of $4.55 million. Aduro BioTech had a negative return on equity of 78.64% and a negative net margin of 544.94%.
A number of other analysts have also weighed in on ADRO. HC Wainwright reduced their target price on Aduro BioTech from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. William Blair lowered Aduro BioTech from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 18th. Cowen lowered Aduro BioTech from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, ValuEngine upgraded Aduro BioTech from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $6.50.
ADRO traded down $0.14 during trading on Friday, reaching $1.19. The company had a trading volume of 2,414,566 shares, compared to its average volume of 963,147. The company has a quick ratio of 7.26, a current ratio of 7.26 and a debt-to-equity ratio of 0.39. The business has a 50 day simple moving average of $1.16 and a 200-day simple moving average of $1.23. Aduro BioTech has a 52 week low of $0.90 and a 52 week high of $4.59. The stock has a market cap of $107.08 million, a P/E ratio of -1.03 and a beta of 1.49.
Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC increased its stake in shares of Aduro BioTech by 234.9% during the third quarter. Virtu Financial LLC now owns 33,901 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 23,778 shares during the period. Wedbush Securities Inc. purchased a new position in shares of Aduro BioTech during the third quarter valued at $39,000. Jane Street Group LLC purchased a new position in shares of Aduro BioTech during the second quarter valued at $56,000. Prudential Financial Inc. increased its stake in shares of Aduro BioTech by 31.4% during the second quarter. Prudential Financial Inc. now owns 38,880 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 9,300 shares during the period. Finally, Alambic Investment Management L.P. purchased a new position in shares of Aduro BioTech during the second quarter valued at $62,000. Hedge funds and other institutional investors own 39.58% of the company’s stock.
In other news, insider Elsas Andrea Van sold 73,311 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $1.19, for a total transaction of $87,240.09. Following the transaction, the insider now owns 445,190 shares in the company, valued at $529,776.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 80,880 shares of company stock worth $96,020. Insiders own 5.20% of the company’s stock.
About Aduro BioTech
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.
