Short Interest in Aadi Bioscience, Inc. (NASDAQ:AADI) Decreases By 8.8%

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AADI shares. TD Cowen lowered Aadi Bioscience from a "buy" rating to a "hold" rating in a report on Wednesday, August 21st. HC Wainwright reiterated a "neutral" rating on shares of Aadi Bioscience in a report on Wednesday, August 21st. Jefferies Financial Group cut shares of 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 research note on Wednesday, August 21st. Piper Sandler Companies downgraded shares of Aadi Bioscience from an "overweight" rating to a "neutral" rating and set a $1.75 price objective on the stock. in a report on Tuesday, August 27th. Finally, Piper Sandler cut shares of Aadi Bioscience from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $5.00 to $1.75 in a report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $1.67.

Aadi Bioscience Price Performance

NASDAQ:AADI traded up $0.02 during trading hours on Monday, reaching $2.36. The company had a trading volume of 46,873 shares, compared to its average volume of 259,411. Aadi Bioscience has a 1-year low of $1.21 and a 1-year high of $5.54. The business's 50 day moving average price is $2.07 and its 200-day moving average price is $1.79. The firm has a market cap of $58.17 million, a PE ratio of -1.03 and a beta of 0.71.

Aadi Bioscience (NASDAQ:AADI - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $6.55 million. Aadi Bioscience had a negative net margin of 246.06% and a negative return on equity of 71.87%. During the same quarter in the prior year, the firm posted ($0.60) earnings per share. On average, analysts expect that Aadi Bioscience will post -1.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Aadi Bioscience

In other news, Chairman Neil Desai sold 40,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1.71, for a total transaction of $68,400.00. Following the sale, the chairman now directly owns 1,171,543 shares of the company's stock, valued at $2,003,338.53. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 37.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aadi Bioscience

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acuitas Investments LLC lifted its stake in shares of Aadi Bioscience by 10.8% in the second quarter. Acuitas Investments LLC now owns 352,483 shares of the company's stock worth $515,000 after buying an additional 34,344 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Aadi Bioscience in the 2nd quarter worth approximately $37,000. BML Capital Management LLC acquired a new position in shares of Aadi Bioscience during the 3rd quarter worth approximately $4,120,000. Finally, XTX Topco Ltd purchased a new stake in shares of Aadi Bioscience in the third quarter valued at approximately $32,000. Institutional investors and hedge funds 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.