Aduro BioTech Inc (NASDAQ:ADRO) Sees Significant Decline in Short Interest

Aduro BioTech Inc (NASDAQ:ADRO) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 1,817,400 shares, a decline of 5.4% from the May 15th total of 1,920,200 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average daily trading volume, of 414,100 shares, the days-to-cover ratio is currently 4.4 days.

A number of equities research analysts have commented on the stock. BidaskClub lowered shares of YRC Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Oppenheimer upgraded shares of Teva Pharmaceutical Industries from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Monday, June 3rd. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. CIBC upgraded shares of Centerra Gold from a “neutral” rating to an “outperform” rating and upped their target price for the company from C$9.00 to C$10.50 in a research report on Monday, June 3rd. Finally, Zacks Investment Research downgraded shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Aduro BioTech has an average rating of “Hold” and an average price target of $7.68.

In other Aduro BioTech news, CFO Jennifer Lew sold 18,602 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $4.20, for a total value of $78,128.40. Following the sale, the chief financial officer now owns 139,381 shares of the company’s stock, valued at approximately $585,400.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Aduro BioTech during the 4th quarter worth approximately $42,000. BNP Paribas Arbitrage SA grew its stake in shares of Aduro BioTech by 2,060.2% in the first quarter. BNP Paribas Arbitrage SA now owns 13,631 shares of the biotechnology company’s stock valued at $54,000 after buying an additional 13,000 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Aduro BioTech in the fourth quarter valued at $59,000. Algert Global LLC bought a new position in shares of Aduro BioTech in the first quarter valued at $77,000. Finally, Legal & General Group Plc grew its stake in shares of Aduro BioTech by 25.6% in the fourth quarter. Legal & General Group Plc now owns 30,303 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 6,184 shares in the last quarter. Hedge funds and other institutional investors own 41.97% of the company’s stock.

Shares of NASDAQ:ADRO traded down $0.05 during mid-day trading on Friday, reaching $1.42. The stock had a trading volume of 358,928 shares, compared to its average volume of 432,913. The stock has a 50 day moving average of $1.79. The company has a debt-to-equity ratio of 0.29, a current ratio of 9.11 and a quick ratio of 9.11. Aduro BioTech has a twelve month low of $1.41 and a twelve month high of $8.10.

Aduro BioTech (NASDAQ:ADRO) last announced its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.10). The firm had revenue of $3.94 million during the quarter, compared to analyst estimates of $8.08 million. Aduro BioTech had a negative net margin of 784.73% and a negative return on equity of 63.81%. Equities research analysts expect that Aduro BioTech will post -0.92 earnings per share for the current year.

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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