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

Aadi Bioscience, Inc. (NASDAQ:AADI) was the recipient of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 224,000 shares, a drop of 12.7% from the November 15th total of 256,500 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 125,300 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in shares of Aadi Bioscience in the third quarter valued at $32,000. BML Capital Management LLC purchased a new stake in Aadi Bioscience in the 3rd quarter worth about $4,120,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Aadi Bioscience during the 2nd quarter worth about $37,000. Finally, Acuitas Investments LLC grew its stake in Aadi Bioscience by 10.8% during the 2nd quarter. Acuitas Investments LLC now owns 352,483 shares of the company’s stock valued at $515,000 after acquiring an additional 34,344 shares in the last quarter. 52.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AADI has been the subject of several recent analyst reports. Piper Sandler Companies cut Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 price target for the company. in a research note on Tuesday, August 27th. HC Wainwright reiterated a “neutral” rating on shares of Aadi Bioscience in a research report on Wednesday, August 21st. Jefferies Financial Group cut shares of Aadi Bioscience from a “buy” rating to a “hold” rating and lowered their target price for the company from $11.00 to $1.50 in a research note on Wednesday, August 21st. TD Cowen lowered shares of Aadi Bioscience from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Piper Sandler lowered shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $5.00 to $1.75 in a research note on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $1.67.

Aadi Bioscience Stock Performance

Shares of NASDAQ AADI opened at $2.41 on Monday. The firm has a 50-day moving average of $2.17 and a two-hundred day moving average of $1.83. Aadi Bioscience has a twelve month low of $1.21 and a twelve month high of $5.49. The company has a market capitalization of $59.40 million, a price-to-earnings ratio of -1.06 and a beta of 0.73.

Aadi Bioscience (NASDAQ:AADI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.46) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.46). Aadi Bioscience had a negative return on equity of 71.87% and a negative net margin of 246.06%. The company had revenue of $7.21 million for the quarter, compared to analyst estimates of $6.55 million. During the same period in the previous year, the firm earned ($0.60) earnings per share. As a group, research analysts predict that Aadi Bioscience will post -1.78 earnings per share for the current 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.