Aduro BioTech Inc (NASDAQ:ADRO) shares were down 7% on Wednesday . The company traded as low as $2.76 and last traded at $2.77. Approximately 1,008,042 shares changed hands during trading, a decline of 53% from the average daily volume of 2,147,012 shares. The stock had previously closed at $2.98.
A number of research analysts recently weighed in on ADRO shares. William Blair reissued a “buy” rating on shares of Aduro BioTech in a report on Wednesday, October 3rd. BidaskClub raised Aduro BioTech from a “sell” rating to a “hold” rating in a report on Saturday, September 29th. HC Wainwright set a $8.00 target price on Aduro BioTech and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Oppenheimer set a $10.00 target price on Aduro BioTech and gave the stock a “buy” rating in a report on Tuesday, October 30th. Finally, Cowen reissued a “buy” rating on shares of Aduro BioTech in a report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $8.68.
The firm has a market capitalization of $219.95 million, a PE ratio of -2.01 and a beta of 1.87.
Aduro BioTech (NASDAQ:ADRO) last issued its earnings results on Tuesday, October 30th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Aduro BioTech had a negative return on equity of 50.03% and a negative net margin of 591.66%. The business had revenue of $3.06 million during the quarter, compared to analysts’ expectations of $4.59 million. As a group, equities analysts predict that Aduro BioTech Inc will post -1.18 EPS for the current year.
Several hedge funds have recently modified their holdings of the company. Federated Investors Inc. PA increased its stake in shares of Aduro BioTech by 268.3% in the third quarter. Federated Investors Inc. PA now owns 10,331 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 7,526 shares during the period. MetLife Investment Advisors LLC grew its stake in Aduro BioTech by 70.6% during the second quarter. MetLife Investment Advisors LLC now owns 31,799 shares of the biotechnology company’s stock worth $223,000 after purchasing an additional 13,156 shares during the period. Swiss National Bank grew its stake in Aduro BioTech by 27.5% during the second quarter. Swiss National Bank now owns 73,300 shares of the biotechnology company’s stock worth $513,000 after purchasing an additional 15,800 shares during the period. Credit Suisse AG grew its stake in Aduro BioTech by 54.5% during the third quarter. Credit Suisse AG now owns 47,915 shares of the biotechnology company’s stock worth $352,000 after purchasing an additional 16,896 shares during the period. Finally, Capital Fund Management S.A. acquired a new stake in Aduro BioTech during the second quarter worth approximately $130,000. 48.32% of the stock is owned by institutional investors.
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Aduro BioTech Company Profile (NASDAQ:ADRO)
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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