Aadi Bioscience (NASDAQ:AADI) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Aadi Bioscience (NASDAQ:AADI) from a sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Aadi Bioscience Inc. is a clinical-stage biopharmaceutical company. It focuses on precision therapies for genetically-defined cancers with alterations in mTOR pathway genes. Aadi Bioscience Inc., formerly known as Aerpio Pharmaceuticals Inc., is based in LOS ANGELES. “

AADI has been the subject of a number of other reports. Piper Sandler initiated coverage on Aadi Bioscience in a research report on Wednesday, September 8th. They set an overweight rating and a $45.00 target price for the company. HC Wainwright raised their price target on Aadi Bioscience from $47.00 to $49.00 and gave the stock a buy rating in a research report on Wednesday, November 24th. Cowen initiated coverage on Aadi Bioscience in a research report on Friday, October 1st. They issued an outperform rating on the stock. Finally, LADENBURG THALM/SH SH initiated coverage on Aadi Bioscience in a research report on Tuesday, September 14th. They issued a buy rating and a $51.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Buy and an average target price of $40.80.

Shares of NASDAQ:AADI opened at $20.09 on Wednesday. Aadi Bioscience has a 12-month low of $14.31 and a 12-month high of $49.80. The stock has a market cap of $419.76 million, a PE ratio of -1.50 and a beta of 1.45. The business has a 50 day moving average of $25.82 and a 200-day moving average of $24.76.

A number of large investors have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC acquired a new stake in Aadi Bioscience in the second quarter valued at about $7,605,000. RA Capital Management L.P. acquired a new stake in Aadi Bioscience in the second quarter valued at about $4,552,000. Renaissance Technologies LLC boosted its stake in Aadi Bioscience by 33.1% in the second quarter. Renaissance Technologies LLC now owns 2,584,347 shares of the company’s stock valued at $4,368,000 after buying an additional 642,809 shares in the last quarter. Vanguard Group Inc. boosted its stake in Aadi Bioscience by 2.9% in the second quarter. Vanguard Group Inc. now owns 1,774,463 shares of the company’s stock valued at $2,999,000 after buying an additional 49,256 shares in the last quarter. Finally, VR Adviser LLC acquired a new stake in Aadi Bioscience in the third quarter valued at about $44,919,000.

Aadi Bioscience Company Profile

Aadi Bioscience, Inc operates as a clinical-stage biopharmaceutical company. It develops precision therapies for genetically-defined cancers patients with mTOR pathway driver alterations such as alterations in TSC1 or TSC2 genes. The company was founded by Neil Desai in October, 2011 and is headquartered in Los Angeles, CA.

Recommended Story: What is a Futures Contract?

Get a free copy of the Zacks research report on Aadi Bioscience (AADI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Aadi Bioscience (NASDAQ:AADI)