Insider Selling: Aadi Bioscience, Inc. (NASDAQ:AADI) CEO Sells 9,689 Shares of Stock

Aadi Bioscience, Inc. (NASDAQ:AADI) CEO David James Lennon sold 9,689 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $1.94, for a total value of $18,796.66. Following the transaction, the chief executive officer now directly owns 22,869 shares of the company’s stock, valued at $44,365.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Aadi Bioscience Price Performance

NASDAQ AADI traded down $0.04 on Thursday, hitting $1.92. 90,385 shares of the company were exchanged, compared to its average volume of 291,698. The company’s 50 day moving average price is $1.68 and its 200-day moving average price is $1.77. Aadi Bioscience, Inc. has a twelve month low of $1.21 and a twelve month high of $5.70. The firm has a market capitalization of $47.14 million, a P/E ratio of -0.77 and a beta of 0.69.

Aadi Bioscience (NASDAQ:AADI) last issued its earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, beating 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 business had revenue of $6.18 million for the quarter, compared to analyst estimates of $6.33 million. During the same period in the previous year, the business earned ($0.67) EPS. As a group, equities analysts expect that Aadi Bioscience, Inc. will post -2.02 EPS for the current year.

Institutional Investors Weigh In On Aadi Bioscience

Several large investors have recently made changes to their positions in AADI. Point72 Asia Singapore Pte. Ltd. acquired a new position in Aadi Bioscience in the second quarter valued at about $37,000. Marquette Asset Management LLC bought a new stake in Aadi Bioscience in the first quarter worth approximately $135,000. Finally, Acuitas Investments LLC raised its position in shares of Aadi Bioscience by 10.8% during the second 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 period. Institutional investors and hedge funds own 52.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AADI. Piper Sandler Companies lowered Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 target price on the stock. in a research report on Tuesday, August 27th. Jefferies Financial Group cut Aadi Bioscience from a “buy” rating to a “hold” rating and decreased their price objective for the company from $11.00 to $1.50 in a report 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. Piper Sandler cut Aadi Bioscience from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $5.00 to $1.75 in a research report on Tuesday, August 27th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Aadi Bioscience in a research report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.25.

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.