Analysts Expect Aduro BioTech Inc (ADRO) Will Post Quarterly Sales of $4.59 Million

Analysts expect that Aduro BioTech Inc (NASDAQ:ADRO) will report sales of $4.59 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Aduro BioTech’s earnings. The highest sales estimate is $6.49 million and the lowest is $3.52 million. Aduro BioTech posted sales of $3.79 million during the same quarter last year, which indicates a positive year over year growth rate of 21.1%. The company is scheduled to announce its next earnings results on Tuesday, October 30th.

On average, analysts expect that Aduro BioTech will report full year sales of $19.42 million for the current year, with estimates ranging from $16.31 million to $23.10 million. For the next year, analysts expect that the firm will post sales of $31.89 million per share, with estimates ranging from $17.25 million to $55.10 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Aduro BioTech.

Aduro BioTech (NASDAQ:ADRO) last released its earnings results on Wednesday, August 1st. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.02. Aduro BioTech had a negative return on equity of 44.97% and a negative net margin of 574.11%. The firm had revenue of $2.64 million during the quarter, compared to analysts’ expectations of $3.74 million.

ADRO has been the subject of several research analyst reports. BidaskClub cut Aduro BioTech from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Canaccord Genuity restated a “buy” rating and set a $30.00 price target on shares of Aduro BioTech in a report on Thursday, August 2nd. ValuEngine upgraded Aduro BioTech from a “strong sell” rating to a “sell” rating in a report on Thursday, August 30th. Bank of America cut their price target on Aduro BioTech from $8.00 to $6.00 and set an “underperform” rating for the company in a report on Thursday, August 2nd. Finally, HC Wainwright set a $10.00 price target on Aduro BioTech and gave the company a “buy” rating in a report on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $13.67.

Shares of NASDAQ:ADRO traded down $0.10 during trading on Tuesday, hitting $6.20. 1,044,965 shares of the company’s stock were exchanged, compared to its average volume of 321,424. Aduro BioTech has a 52-week low of $5.10 and a 52-week high of $11.55. The stock has a market capitalization of $490.17 million, a P/E ratio of -4.37 and a beta of 2.23.

In other news, insider Stephen T. Isaacs sold 24,143 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $6.50, for a total value of $156,929.50. Following the completion of the sale, the insider now directly owns 356,996 shares of the company’s stock, valued at approximately $2,320,474. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jennifer Lew sold 5,623 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $6.50, for a total value of $36,549.50. Following the completion of the sale, the chief financial officer now directly owns 141,813 shares of the company’s stock, valued at $921,784.50. The disclosure for this sale can be found here. Insiders have sold a total of 113,352 shares of company stock valued at $832,661 in the last 90 days. 5.00% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Northern Trust Corp lifted its stake in shares of Aduro BioTech by 47.6% in the 2nd quarter. Northern Trust Corp now owns 695,702 shares of the biotechnology company’s stock valued at $4,871,000 after purchasing an additional 224,377 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Aduro BioTech by 19.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 220,247 shares of the biotechnology company’s stock valued at $1,541,000 after purchasing an additional 36,387 shares during the last quarter. Centaurus Financial Inc. bought a new stake in shares of Aduro BioTech in the 2nd quarter valued at approximately $564,000. MetLife Investment Advisors LLC lifted its stake in shares of Aduro BioTech by 70.6% in the 2nd quarter. MetLife Investment Advisors LLC now owns 31,799 shares of the biotechnology company’s stock valued at $223,000 after purchasing an additional 13,156 shares during the last quarter. Finally, Vident Investment Advisory LLC lifted its stake in shares of Aduro BioTech by 53.9% in the 2nd quarter. Vident Investment Advisory LLC now owns 325,660 shares of the biotechnology company’s stock valued at $2,280,000 after purchasing an additional 114,014 shares during the last quarter. 49.01% of the stock is owned by institutional investors and hedge funds.

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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