Aduro Biotech Inc. (NASDAQ:ADRO) shares traded down 7% during trading on Thursday following insider selling activity. The stock traded as low as $12.59 and last traded at $12.68, with a volume of 85,259 shares changing hands. The stock had previously closed at $13.64.
Specifically, insider Jennifer Lew sold 6,360 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $14.95, for a total transaction of $95,082.00. Following the completion of the sale, the insider now owns 48,955 shares of the company’s stock, valued at $731,877.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas W. Dubensky sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $14.03, for a total transaction of $350,750.00. Following the sale, the insider now directly owns 16,407 shares of the company’s stock, valued at approximately $230,190.21. The disclosure for this sale can be found here. Corporate insiders own 6.50% of the company’s stock.
ADRO has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Aduro Biotech from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Canaccord Genuity reissued a “buy” rating and set a $30.00 price target on shares of Aduro Biotech in a research report on Friday, August 5th. Finally, Roth Capital reissued a “buy” rating and set a $22.00 price target on shares of Aduro Biotech in a research report on Monday, July 11th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $22.00.
The company’s market capitalization is $826.91 million. The company has a 50 day moving average price of $14.06 and a 200-day moving average price of $13.10.
Aduro Biotech (NASDAQ:ADRO) last announced its earnings results on Wednesday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.21. Aduro Biotech had a negative net margin of 23.69% and a negative return on equity of 9.23%. The business had revenue of $39 million for the quarter, compared to analyst estimates of $25.24 million. The business’s revenue for the quarter was up 306.3% on a year-over-year basis. On average, analysts expect that Aduro Biotech Inc. will post ($1.39) earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its stake in shares of Aduro Biotech by 27.6% in the second quarter. Acrospire Investment Management LLC now owns 9,700 shares of the company’s stock valued at $110,000 after buying an additional 2,100 shares during the period. BlackRock Inc. raised its stake in shares of Aduro Biotech by 1,850.5% in the second quarter. BlackRock Inc. now owns 12,600 shares of the company’s stock valued at $142,000 after buying an additional 11,954 shares during the period. Parametric Portfolio Associates LLC bought a new stake in shares of Aduro Biotech during the second quarter valued at about $143,000. Creative Planning bought a new stake in shares of Aduro Biotech during the second quarter valued at about $158,000. Finally, American International Group Inc. raised its stake in shares of Aduro Biotech by 317.7% in the second quarter. American International Group Inc. now owns 20,416 shares of the company’s stock valued at $231,000 after buying an additional 15,528 shares during the period. Institutional investors and hedge funds own 29.76% of the company’s stock.
About Aduro Biotech
Aduro Biotech, Inc is a clinical-stage immunotherapy company. The Company is focused on the discovery, development and commercialization of therapies that transform the treatment of various diseases. The Company has developed approximately three technology platforms, which include Live, Attenuated, Double-Deleted (LADD), Stimulator of Interferon Genes (STING) Pathway Activator and B-select monoclonal antibodies.
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