Aadi Bioscience, Inc. (NASDAQ:AADI) Sees Significant Growth in Short Interest

Aadi Bioscience, Inc. (NASDAQ:AADI) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 320,900 shares, an increase of 6.0% from the August 15th total of 302,600 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average trading volume of 295,100 shares, the short-interest ratio is currently 1.1 days.

Insider Activity

In related news, Chairman Neil Desai sold 40,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.71, for a total transaction of $68,400.00. Following the completion of the sale, the chairman now directly owns 1,171,543 shares in the company, valued at $2,003,338.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 92,415 shares of company stock worth $144,551 in the last ninety days. Corporate insiders own 37.30% of the company’s stock.

Institutional Trading of Aadi Bioscience

Several institutional investors have recently bought and sold shares of AADI. Point72 Asia Singapore Pte. Ltd. acquired a new position in Aadi Bioscience during the second quarter worth $37,000. Acuitas Investments LLC grew its holdings in shares of Aadi Bioscience by 10.8% in the 2nd quarter. Acuitas Investments LLC now owns 352,483 shares of the company’s stock worth $515,000 after purchasing an additional 34,344 shares during the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Aadi Bioscience during the 1st quarter worth about $135,000. Finally, Decheng Capital LLC bought a new position in Aadi Bioscience during the 4th quarter valued at about $1,063,000. Institutional investors and hedge funds own 52.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Cowen lowered Aadi Bioscience from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. HC Wainwright reiterated a “neutral” rating on shares of Aadi Bioscience in a report on Wednesday, August 21st. Piper Sandler cut shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $5.00 to $1.75 in a research note on Tuesday, August 27th. Jefferies Financial Group downgraded shares of Aadi Bioscience from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $11.00 to $1.50 in a report on Wednesday, August 21st. Finally, Piper Sandler Companies lowered shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 target price for the company. in a research report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.25.

Aadi Bioscience Price Performance

Shares of Aadi Bioscience stock opened at $1.87 on Thursday. The company’s fifty day moving average price is $1.60 and its two-hundred day moving average price is $1.78. The firm has a market capitalization of $45.92 million, a PE ratio of -0.73 and a beta of 0.69. Aadi Bioscience has a 52-week low of $1.21 and a 52-week high of $5.70.

Aadi Bioscience (NASDAQ:AADI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.17. Aadi Bioscience had a negative net margin of 274.77% and a negative return on equity of 66.67%. The firm had revenue of $6.18 million during the quarter, compared to analyst estimates of $6.33 million. During the same quarter in the prior year, the business posted ($0.67) earnings per share. Analysts predict that Aadi Bioscience will post -2.02 earnings per share for the current fiscal year.

About Aadi Bioscience

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.