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

Aadi Bioscience, Inc. (NASDAQ:AADI) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 256,500 shares, a decrease of 8.8% from the October 31st total of 281,100 shares. Based on an average daily volume of 148,600 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.3% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

Aadi Bioscience Trading Up 2.6 %

NASDAQ AADI opened at $2.34 on Monday. The firm’s fifty day simple moving average is $2.07 and its two-hundred day simple moving average is $1.79. The firm has a market capitalization of $57.68 million, a P/E ratio of -1.03 and a beta of 0.71. Aadi Bioscience has a 12-month low of $1.21 and a 12-month high of $5.54.

Aadi Bioscience (NASDAQ:AADI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.46) earnings per share for the quarter, hitting the consensus estimate of ($0.46). Aadi Bioscience had a negative return on equity of 71.87% and a negative net margin of 246.06%. The firm had revenue of $7.21 million for the quarter, compared to the consensus estimate of $6.55 million. During the same period in the previous year, the business earned ($0.60) EPS. As a group, sell-side analysts predict that Aadi Bioscience will post -1.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Neil Desai sold 40,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.71, for a total value of $68,400.00. Following the completion of the sale, the chairman now directly owns 1,171,543 shares of the company’s stock, valued at $2,003,338.53. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 37.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Aadi Bioscience

Large investors have recently modified their holdings of the business. BML Capital Management LLC purchased a new position in shares of Aadi Bioscience in the 3rd quarter valued at approximately $4,120,000. Acuitas Investments LLC increased 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 purchasing an additional 34,344 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Aadi Bioscience during the 2nd quarter valued at approximately $37,000. Finally, XTX Topco Ltd purchased a new position in shares of Aadi Bioscience in the third quarter worth $32,000. Hedge funds and other 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.