The $4.04 Million in Sales Expected for Aduro Biotech, Inc. (ADRO) This Quarter

The $4.04 Million in Sales Expected for Aduro Biotech, Inc. (ADRO) This Quarter

According to Zacks, analysts expect that Aduro Biotech will report full year sales of $4.04 million for the current fiscal year, with estimates ranging from $14.88 million to $18.50 million. For the next fiscal year, analysts anticipate that the firm will report sales of $38.27 million per share, with estimates ranging from $15.00 million to $74.82 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Aduro Biotech.

Brokerages predict that Aduro Biotech, Inc. (NASDAQ:ADRO) will report sales of $4.04 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Aduro Biotech’s earnings, with the lowest sales estimate coming in at $3.70 million and the highest estimate coming in at $4.63 million. Aduro Biotech reported sales of $38.98 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 89.6%. The business is scheduled to issue its next earnings report on Wednesday, August 2nd.

Aduro Biotech (NASDAQ:ADRO) last announced its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. The business had revenue of $3.77 million for the quarter, compared to the consensus estimate of $3.74 million. Aduro Biotech had a negative return on equity of 35.35% and a negative net margin of 166.85%.

A number of brokerages recently issued reports on ADRO. Cowen and Company began coverage on Aduro Biotech in a report on Tuesday, July 18th. They issued an “outperform” rating on the stock. Zacks Investment Research upgraded Aduro Biotech from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, July 4th. Canaccord Genuity set a $30.00 target price on Aduro Biotech and gave the stock a “buy” rating in a report on Monday, March 27th. HC Wainwright began coverage on Aduro Biotech in a report on Monday, May 1st. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Rodman & Renshaw began coverage on Aduro Biotech in a report on Monday, May 1st. They issued a “buy” rating and a $18.00 target price on the stock. Eight analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $19.00.

In other news, insider Thomas W. Dubensky sold 144,301 shares of Aduro Biotech stock in a transaction on Monday, June 5th. The stock was sold at an average price of $10.03, for a total transaction of $1,447,339.03. Following the transaction, the insider now owns 117,871 shares in the company, valued at $1,182,246.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dirk G. Brockstedt sold 8,000 shares of Aduro Biotech stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $9.72, for a total value of $77,760.00. Following the transaction, the executive vice president now owns 57,300 shares in the company, valued at approximately $556,956. The disclosure for this sale can be found here. Insiders have sold 419,205 shares of company stock worth $4,410,591 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in shares of Aduro Biotech by 330.5% in the first quarter. Goldman Sachs Group Inc. now owns 236,721 shares of the biotechnology company’s stock worth $2,545,000 after buying an additional 181,734 shares during the period. Tudor Investment Corp ET AL increased its position in shares of Aduro Biotech by 34.8% in the first quarter. Tudor Investment Corp ET AL now owns 15,436 shares of the biotechnology company’s stock worth $166,000 after buying an additional 3,984 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of Aduro Biotech during the first quarter worth approximately $853,000. Schwab Charles Investment Management Inc. increased its position in shares of Aduro Biotech by 5.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 145,112 shares of the biotechnology company’s stock worth $1,560,000 after buying an additional 7,812 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Aduro Biotech by 762.1% in the first quarter. Renaissance Technologies LLC now owns 181,900 shares of the biotechnology company’s stock worth $1,955,000 after buying an additional 160,800 shares during the period. Hedge funds and other institutional investors own 35.65% of the company’s stock.

Shares of Aduro Biotech (ADRO) traded up 0.36% during mid-day trading on Thursday, hitting $13.75. The company had a trading volume of 244,258 shares. The firm’s 50 day moving average is $11.45 and its 200-day moving average is $10.85. The firm’s market cap is $961.30 million. Aduro Biotech has a 12-month low of $8.75 and a 12-month high of $16.43.

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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