Aadi Bioscience, Inc. (NASDAQ:AADI) Short Interest Update

Aadi Bioscience, Inc. (NASDAQ:AADI) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,130,000 shares, an increase of 19.0% from the February 29th total of 949,300 shares. Currently, 6.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 441,000 shares, the days-to-cover ratio is currently 2.6 days.

Aadi Bioscience Trading Down 1.3 %

Shares of AADI stock opened at $2.34 on Monday. Aadi Bioscience has a 12 month low of $1.55 and a 12 month high of $8.65. The stock has a market cap of $57.45 million, a PE ratio of -0.96 and a beta of 0.57. The company’s fifty day moving average price is $1.98 and its 200-day moving average price is $3.26.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Piper Sandler decreased their target price on shares of Aadi Bioscience from $30.00 to $5.00 and set an “overweight” rating on the stock in a research note on Friday, December 15th. HC Wainwright downgraded shares of Aadi Bioscience from a “buy” rating to a “neutral” rating in a research note on Friday, December 15th.

Insider Transactions at Aadi Bioscience

In other news, Chairman Neil Desai sold 42,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1.74, for a total value of $73,080.00. Following the sale, the chairman now directly owns 1,453,543 shares of the company’s stock, valued at $2,529,164.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 126,000 shares of company stock valued at $244,285. 35.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aadi Bioscience

A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Aadi Bioscience by 20.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,362 shares of the company’s stock worth $91,000 after acquiring an additional 2,234 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Aadi Bioscience by 59.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,462 shares of the company’s stock worth $91,000 after acquiring an additional 2,408 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Aadi Bioscience by 7.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 39,000 shares of the company’s stock valued at $189,000 after buying an additional 2,600 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Aadi Bioscience by 21.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,538 shares of the company’s stock valued at $191,000 after buying an additional 2,712 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in Aadi Bioscience during the 2nd quarter valued at approximately $34,000. Institutional investors own 52.08% of the company’s stock.

Aadi Bioscience Company Profile

Aadi Bioscience, Inc, a biopharmaceutical company, engages in developing and commercializing precision therapies for genetically defined cancers with alterations in mTOR pathway genes. Its lead drug product candidate comprises FYARRO, a form of sirolimus protein-bound particles for injectable suspension for the treatment in adult patients with advanced unresectable or metastatic malignant PEComa.