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Wednesday, December 2, 2020

Aduro Biotech Inc. (NASDAQ:ADRO) is Waving the Bull Flag

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Aduro Biotech Inc. (ADRO) shares are trading at higher $3.02 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $3.75.

To add more color to this target, the company’s high over the last year is $4.04 and the low is $0.90. Over the last 52 weeks, ADRO is down -25.25% while the S&P 500 is down -0.42%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, ADRO reported a profit of $22.57 million. Aduro Biotech Inc. also saw revenues increase to $5.57 million. In addition, ADRO has free cash flow of -$28.83 million as of 06-2020. The company’s EBITDA came in at -$16.14 million which compares well with its peers.

ADRO Return on Equity (ROE) is -101.70%, and its Return on Assets is -22.30%. All told, it is clear that, ADRO needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ADRO has a short ratio of 5.91 and outstanding shares of 80.86M.

Company Outlook

ADRO has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.11 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.80. Aduro Biotech Inc. ADRO also noted assets of $265.38 million at the end of the last quarter. Investors should also keep an eye on sector updates as ADRO has historically followed its peers on positive news.

All told, Aduro Biotech Inc. ADRO has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ADRO represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Aduro Biotech Inc. ADRO is now commanding a market cap of 252.92M and a float of 56.86M. ADRO is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ADRO stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ADRO, either long or short, and we have not been compensated for this article.

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