Aadi Bioscience (NASDAQ:AADI) Trading Down 16.1% – Here’s What Happened

Aadi Bioscience, Inc. (NASDAQ:AADI)’s share price fell 16.1% during mid-day trading on Monday . The stock traded as low as $3.00 and last traded at $3.02. 441,737 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 410,748 shares. The stock had previously closed at $3.60.

Aadi Bioscience Stock Down 16.1 %

The company’s 50 day simple moving average is $2.61 and its 200-day simple moving average is $2.03. The firm has a market cap of $74.43 million, a P/E ratio of -1.32 and a beta of 0.65.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in shares of Aadi Bioscience in the third quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Aadi Bioscience during the second quarter valued at approximately $37,000. Finally, BML Capital Management LLC purchased a new position in Aadi Bioscience during the third quarter valued at approximately $4,120,000. 52.08% of the stock is currently owned by hedge funds and other institutional investors.

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.