Aduro Biotech Inc. (ADRO) Announces Approval of Merger Agreement with Chinook Therapeutics by Shareholders

Aduro Biotech, Inc. (ADRO) on Oct. 01, 2020 reported the results for the three proposals considered and voted upon by its stockholders at its Special Meeting on October 1, 2020. The Company reported that the various proposals giving effect to the merger agreement between Aduro and Chinook Therapeutics were approved by approximately 55,168,606 of the outstanding shares of Aduro. All proposals were approved by the Aduro stockholders. A Form 8-K disclosing the full voting results will be filed with the Securities and Exchange Commission on October 1, 2020.

Following stockholder approval, the Company announced a one-for-five reverse stock split. The Company’s common stock will begin trading on a split-adjusted basis on The Nasdaq Global Select Market effective with the open of the market on Friday, October 2, 2020.

The closing of the merger is expected to take place on or around October 5, 2020. Following closing of the merger, the combined company will be renamed Chinook Therapeutics and trade under the trading symbol “KDNY.”

ISAACS STEPHEN T, the President and CEO of Aduro Biotech Inc., sold 32481.0 shares at the valuation of $2.39 during an exchange that occurred on Sep 15, which implies that ISAACS STEPHEN T is holding 279,166 shares at the estimation of $77,691 dependent on the most recent closing price.

In another transaction, on Sep 15, Chief Legal Officer of Aduro Biotech Inc., Templeman Blaine, sold 12369.0 shares at the price of $2.39. After this activity, Templeman Blaine now keeps 121,916 shares of Aduro Biotech Inc., esteemed at $29,585 with the most recent shutting price.

ADRO Recent Trade

The share price of ADRO ascended by $0.43 during the exchanging session on 10/01/20 to exchange at $2.86. Aduro Biotech Inc. stock has an exchanging volume of 2.74 million shares, which is high, contrasted with its 3-months average volume of 510.63K shares. Its market capitalization has now reached to $226.23M and analysts have a consensus target price of $3.75 in the 12-month period.

ADRO Past Trading Activity

The market tends to become urbane often, in any event, for prepared investors and traders. In any event, when a merchant got what he/she had expected, the market occasionally chooses to move the other way. This instability leads a few traders questioning and re-thinking their moves. This is the reason becoming acquainted with past price performance, just as both long and short time period, is significant. If we look the past performance, during the last one week, ADRO price has rose by 25.44%. In the course of past three months sees the stock go up around 14.40%, while it has gain 13.94% over the past six months and 142.37% since the start of the year.

ADRO Earning History

Earnings per share are the amount of profit that a company produces during a specific period, which is usually defined as a quarter (three calendar months) or a year. In recent quarter of (Sep 2020), the firm recorded a revenue of 5.57 billion, which was higher than the gauge of 3.4M made by certain experts. For that equivalent quarter, Aduro Biotech Inc. posted -$0.21 earnings per share (EPS) which was underneath the consensus estimate of -$0.19 by -$0.02, which represents to a reduction by -10.50%.

ADRO Price Performance

Let us presently take a gander at a portion of its probable help and opposition resistance. Late research on Aduro Biotech Inc. has seen its stock exchanging -16.86% underneath its three-month high price. A glance at the opposite side additionally observes stock exchanging +30.00% above its three-month low. A more extensive look sees ADRO exchanging -29.21% beneath its 52-week high and 217.39% above from its 52-week low price.

ADRO Instability & Beta Factor

The Volatility of a stock means that the stock’s drop or increase in the event that the more extensive market drops or rushes. A beta score higher than 1 implies that a stock is profoundly unpredictable while underneath 1 implies that the Volatility of a stock is low. If we look trading Volatility. Its 7-day Volatility is around 9.99%, while it has a month to month instability of 7.83%. Ticker has an ATR (Average True Range) of 0.21 and a beta factor of 0.47.

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