Zacks: Brokerages Anticipate Aduro BioTech Inc (ADRO) Will Post Quarterly Sales of $4.32 Million
Wall Street brokerages predict that Aduro BioTech Inc (NASDAQ:ADRO) will announce $4.32 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Aduro BioTech’s earnings, with the lowest sales estimate coming in at $3.70 million and the highest estimate coming in at $6.05 million. Aduro BioTech posted sales of $3.88 million during the same quarter last year, which suggests a positive year over year growth rate of 11.3%. The business is expected to announce its next earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that Aduro BioTech will report full-year sales of $4.32 million for the current fiscal year, with estimates ranging from $17.19 million to $19.50 million. For the next fiscal year, analysts anticipate that the business will report sales of $33.03 million per share, with estimates ranging from $15.02 million to $74.82 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Aduro BioTech.
A number of analysts have commented on ADRO shares. HC Wainwright reduced their price objective on Aduro BioTech from $18.00 to $9.50 and set a “buy” rating for the company in a research report on Wednesday, December 13th. Oppenheimer started coverage on Aduro BioTech in a research report on Monday, October 30th. They set a “buy” rating and a $15.00 target price for the company. BidaskClub cut Aduro BioTech from a “hold” rating to a “sell” rating in a report on Saturday, December 9th. Finally, Canaccord Genuity set a $30.00 target price on Aduro BioTech and gave the company a “buy” rating in a research note on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $17.71.
In related news, insider Stephen T. Isaacs sold 7,949 shares of Aduro BioTech stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $7.95, for a total value of $63,194.55. Following the sale, the insider now owns 213,695 shares of the company’s stock, valued at $1,698,875.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen T. Isaacs sold 19,800 shares of Aduro BioTech stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $7.97, for a total value of $157,806.00. Following the completion of the sale, the insider now directly owns 190,321 shares in the company, valued at approximately $1,516,858.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 205,176 shares of company stock worth $1,752,625. 6.60% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new position in Aduro BioTech during the fourth quarter worth approximately $1,309,000. Virtus Fund Advisers LLC acquired a new position in Aduro BioTech during the fourth quarter worth approximately $321,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new position in Aduro BioTech during the fourth quarter worth approximately $191,000. Alps Advisors Inc. increased its position in Aduro BioTech by 12.5% during the fourth quarter. Alps Advisors Inc. now owns 82,678 shares of the biotechnology company’s stock worth $620,000 after buying an additional 9,197 shares during the last quarter. Finally, Fox Run Management L.L.C. increased its position in Aduro BioTech by 91.4% during the fourth quarter. Fox Run Management L.L.C. now owns 22,775 shares of the biotechnology company’s stock worth $171,000 after buying an additional 10,875 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.
Aduro BioTech Company Profile
Aduro Biotech, Inc is an immunotherapy company, which focuses on the discovery, development and commercialization of therapies that manage the treatment of various diseases, including cancer. The Company’s product candidates from its Live, Attenuated, Double-Deleted (LADD) Listeria monocytogenes, Stimulator of Interferon Genes Pathway Activator, and B-select monoclonal antibody platforms are designed to stimulate and/or regulate innate and adaptive immune responses, either as single agents or in combination with conventional therapies, as well as other immunotherapies.
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