Cowen Reiterates Buy Rating for Aduro BioTech (ADRO)

Aduro BioTech (NASDAQ:ADRO)‘s stock had its “buy” rating reiterated by Cowen in a research note issued to investors on Wednesday.

Other equities research analysts have also recently issued reports about the stock. BidaskClub raised shares of Aduro BioTech from a “strong sell” rating to a “sell” rating in a report on Friday, August 31st. Zacks Investment Research cut shares of Aduro BioTech from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. HC Wainwright set a $10.00 target price on shares of Aduro BioTech and gave the company a “buy” rating in a report on Thursday, August 2nd. Oppenheimer set a $10.00 target price on shares of Aduro BioTech and gave the company a “buy” rating in a report on Tuesday. Finally, Bank of America dropped their target price on shares of Aduro BioTech from $8.00 to $6.00 and set an “underperform” rating on the stock in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $12.83.

Shares of NASDAQ:ADRO opened at $4.24 on Wednesday. Aduro BioTech has a one year low of $3.69 and a one year high of $10.00. The stock has a market cap of $351.02 million, a price-to-earnings ratio of -2.99 and a beta of 2.22.



Aduro BioTech (NASDAQ:ADRO) last issued its quarterly earnings results on Tuesday, October 30th. The biotechnology company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.02. Aduro BioTech had a negative net margin of 591.66% and a negative return on equity of 47.21%. The firm had revenue of $3.06 million for the quarter, compared to analysts’ expectations of $4.59 million. On average, sell-side analysts anticipate that Aduro BioTech will post -1.24 earnings per share for the current fiscal year.

In other news, insider Stephen T. Isaacs sold 62,572 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $7.91, for a total value of $494,944.52. Following the sale, the insider now directly owns 221,331 shares of the company’s stock, valued at approximately $1,750,728.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen T. Isaacs sold 24,143 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $6.50, for a total transaction of $156,929.50. Following the completion of the sale, the insider now directly owns 356,996 shares in the company, valued at $2,320,474. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,160 shares of company stock worth $819,523. 5.00% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Aquilo Capital Management LLC acquired a new position in Aduro BioTech in the 2nd quarter valued at about $14,055,000. Citadel Advisors LLC grew its stake in Aduro BioTech by 958.5% in the 2nd quarter. Citadel Advisors LLC now owns 1,590,832 shares of the biotechnology company’s stock valued at $11,136,000 after buying an additional 1,440,546 shares during the last quarter. Baillie Gifford & Co. grew its stake in Aduro BioTech by 69.6% in the 2nd quarter. Baillie Gifford & Co. now owns 2,810,508 shares of the biotechnology company’s stock valued at $19,673,000 after buying an additional 1,153,771 shares during the last quarter. BlackRock Inc. grew its stake in Aduro BioTech by 32.5% in the 2nd quarter. BlackRock Inc. now owns 4,706,526 shares of the biotechnology company’s stock valued at $32,945,000 after buying an additional 1,153,301 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Aduro BioTech by 329.7% in the 1st quarter. Millennium Management LLC now owns 1,282,347 shares of the biotechnology company’s stock valued at $11,926,000 after buying an additional 983,906 shares during the last quarter. 48.17% of the stock is currently owned by institutional investors.

About Aduro BioTech

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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