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Aduro Biotech (ADRO) closed at $3.33 in the latest trading session, marking a -0.6% move from the prior day. This move was narrower than the S&P 500's daily loss of 3.39%. At the same time, the Dow lost 3.58%, and the tech-heavy Nasdaq lost 3.1%.
Prior to today's trading, shares of the drug developer had gained 21.82% over the past month. This has outpaced the Medical sector's loss of 1.65% and the S&P 500's loss of 4.8% in that time.
Investors will be hoping for strength from ADRO as it approaches its next earnings release. In that report, analysts expect ADRO to post earnings of -$0.21 per share. This would mark year-over-year growth of 25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.95 million, up 79.35% from the year-ago period.
It is also important to note the recent changes to analyst estimates for ADRO. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.26% higher. ADRO currently has a Zacks Rank of #1 (Strong Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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