Aduro BioTech (ADRO) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Aduro BioTech (NASDAQ:ADRO) announced its quarterly earnings data on Tuesday. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.02, MarketWatch Earnings reports. Aduro BioTech had a negative return on equity of 44.97% and a negative net margin of 574.11%. The firm had revenue of $3.06 million during the quarter, compared to analysts’ expectations of $4.59 million.

ADRO stock traded down $0.09 during trading on Wednesday, hitting $4.35. 5,301 shares of the company traded hands, compared to its average volume of 615,727. The stock has a market cap of $351.82 million, a P/E ratio of -3.08 and a beta of 2.22. Aduro BioTech has a 1 year low of $3.69 and a 1 year high of $10.00.

Several research analysts recently weighed in on ADRO shares. BidaskClub upgraded Aduro BioTech from a “sell” rating to a “hold” rating in a research report on Saturday, September 29th. Zacks Investment Research cut Aduro BioTech from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. HC Wainwright set a $8.00 price target on Aduro BioTech and gave the company a “buy” rating in a research report on Tuesday, October 2nd. ValuEngine upgraded Aduro BioTech from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 30th. Finally, William Blair reiterated a “buy” rating on shares of Aduro BioTech in a research report on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.83.

In other news, insider Blaine Templeman sold 10,262 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $5.81, for a total value of $59,622.22. Following the completion of the sale, the insider now directly owns 131,119 shares in the company, valued at $761,801.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen T. Isaacs sold 62,572 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $7.91, for a total value of $494,944.52. Following the completion of the sale, the insider now owns 221,331 shares of the company’s stock, valued at $1,750,728.21. The disclosure for this sale can be found here. Insiders sold 113,160 shares of company stock valued at $819,523 over the last 90 days. Company insiders own 5.00% of the company’s stock.

An institutional investor recently raised its position in Aduro BioTech stock. Bank of New York Mellon Corp grew its holdings in Aduro BioTech Inc (NASDAQ:ADRO) by 19.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 220,247 shares of the biotechnology company’s stock after buying an additional 36,387 shares during the quarter. Bank of New York Mellon Corp owned 0.28% of Aduro BioTech worth $1,541,000 as of its most recent SEC filing. Institutional investors and hedge funds own 48.17% 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.

Featured Article: How Do I Invest in Dividend Stocks

Earnings History for Aduro BioTech (NASDAQ:ADRO)

Receive News & Ratings for Aduro BioTech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aduro BioTech and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply