Aduro BioTech Inc (NASDAQ:ADRO) – Analysts at Oppenheimer dropped their FY2019 earnings per share (EPS) estimates for Aduro BioTech in a report issued on Sunday, November 10th. Oppenheimer analyst M. Breidenbach now anticipates that the biotechnology company will post earnings of ($1.02) per share for the year, down from their previous forecast of ($1.00). Oppenheimer also issued estimates for Aduro BioTech’s Q4 2019 earnings at ($0.23) EPS, Q1 2020 earnings at ($0.23) EPS, Q2 2020 earnings at ($0.24) EPS, Q4 2020 earnings at ($0.26) EPS, FY2020 earnings at ($0.97) EPS, FY2021 earnings at ($1.08) EPS, FY2022 earnings at ($1.19) EPS and FY2023 earnings at ($0.65) EPS.
ADRO has been the topic of a number of other reports. ValuEngine upgraded shares of Aduro BioTech from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Cowen restated a “buy” rating on shares of Aduro BioTech in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.68.
Aduro BioTech (NASDAQ:ADRO) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. Aduro BioTech had a negative net margin of 544.94% and a negative return on equity of 78.64%. The business had revenue of $4.80 million for the quarter, compared to analyst estimates of $4.55 million.
In other Aduro BioTech news, CEO Stephen T. Isaacs sold 31,098 shares of Aduro BioTech stock in a transaction on Friday, September 13th. The shares were sold at an average price of $1.31, for a total value of $40,738.38. Following the sale, the chief executive officer now directly owns 295,926 shares in the company, valued at approximately $387,663.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 52,185 shares of company stock worth $68,362 over the last quarter. Company insiders own 5.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. acquired a new position in shares of Aduro BioTech during the 3rd quarter worth about $39,000. Jane Street Group LLC acquired a new position in shares of Aduro BioTech during the 2nd quarter worth about $56,000. Prudential Financial Inc. increased its stake in shares of Aduro BioTech by 31.4% during the 2nd quarter. Prudential Financial Inc. now owns 38,880 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 9,300 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in shares of Aduro BioTech during the 2nd quarter worth about $62,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Aduro BioTech by 33.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,895 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 11,318 shares during the last quarter. Institutional investors own 41.55% 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.
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