Morningside Venture (Vi) Investments Ltd
recently disclosed that they own 12.5% of Aduro Biotech, Inc. (NASDAQ:ADRO) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Friday, September 15th. The investor owns 9,305,532 shares of the stock worth $104,221,958. The reporting parties listed on the disclosure included Morningside Venture (VI) Investments Ltd, Louise Mary Garbarino, Wong Yuk Lan, Ultimate Keen Limited, Raymond Long Sing Tang and Jill Marie Franklin. The disclosure is available through Edgar at this hyperlink.
Morningside Venture (Vi) Investments Ltd
provided the following explanation of their ownership:
No changes except as described below.
On September 7,2017, Morningside Venture (VI) Investments Ltd. (“MVIL”) donated 7,000,000 shares of Common Stock to the President and Fellows of Harvard College.
On September 7,2017, MVIL donated 3,500,000 shares of Common Stock to The Morningside Foundation.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its position in Aduro Biotech by 11.2% in the 2nd quarter. Legal & General Group Plc now owns 10,359 shares of the biotechnology company’s stock valued at $118,000 after acquiring an additional 1,043 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Aduro Biotech by 15.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 15,424 shares of the biotechnology company’s stock valued at $166,000 after acquiring an additional 2,119 shares in the last quarter. Tudor Investment Corp ET AL grew its position in Aduro Biotech by 34.8% in the 1st quarter. Tudor Investment Corp ET AL now owns 15,436 shares of the biotechnology company’s stock valued at $166,000 after acquiring an additional 3,984 shares in the last quarter. Voya Investment Management LLC grew its position in Aduro Biotech by 15.3% in the 2nd quarter. Voya Investment Management LLC now owns 18,935 shares of the biotechnology company’s stock valued at $216,000 after acquiring an additional 2,515 shares in the last quarter. Finally, American International Group Inc. grew its position in Aduro Biotech by 7.1% in the 1st quarter. American International Group Inc. now owns 21,840 shares of the biotechnology company’s stock valued at $235,000 after acquiring an additional 1,447 shares in the last quarter. 35.05% of the stock is owned by institutional investors.
In other news, insider Thomas W. Dubensky sold 50,000 shares of the stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $11.33, for a total value of $566,500.00. Following the completion of the sale, the insider now owns 51,700 shares in the company, valued at $585,761. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Gregory W. Schafer sold 4,859 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $10.99, for a total value of $53,400.41. Following the completion of the sale, the chief operating officer now owns 153,604 shares of the company’s stock, valued at approximately $1,688,107.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 467,261 shares of company stock valued at $5,359,431. Insiders own 6.60% of the company’s stock.
A number of equities analysts have recently commented on the company. Zacks Investment Research raised Aduro Biotech from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Tuesday, July 4th. BidaskClub raised Aduro Biotech from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. HC Wainwright set a $18.00 price objective on Aduro Biotech and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Cowen and Company assumed coverage on Aduro Biotech in a research report on Tuesday, July 18th. They set an “outperform” rating for the company. Finally, Canaccord Genuity set a $30.00 price objective on Aduro Biotech and gave the stock a “buy” rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.00.
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Shares of Aduro Biotech, Inc. (NASDAQ ADRO) remained flat at $11.20 during trading on Friday. The stock had a trading volume of 2,170,865 shares. The stock’s market cap is $835.65 million. The company has a 50 day moving average price of $11.67 and a 200-day moving average price of $10.97. Aduro Biotech, Inc. has a 1-year low of $8.75 and a 1-year high of $15.52.
Aduro Biotech (NASDAQ:ADRO) last posted its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). Aduro Biotech had a negative net margin of 609.58% and a negative return on equity of 43.92%. The company had revenue of $5.90 million during the quarter, compared to analyst estimates of $3.98 million. During the same quarter last year, the business posted $0.03 EPS. Aduro Biotech’s quarterly revenue was down 84.9% compared to the same quarter last year. Analysts predict that Aduro Biotech, Inc. will post ($1.37) earnings per share for the current fiscal year.
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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