Short Interest in Aadi Bioscience, Inc. (NASDAQ:AADI) Declines By 13.7%

Aadi Bioscience, Inc. (NASDAQ:AADI - Get Free Report) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 472,700 shares, a decline of 13.7% from the January 15th total of 547,500 shares. Based on an average daily volume of 349,100 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.3% of the company's stock are short sold.

Aadi Bioscience Price Performance

Aadi Bioscience stock traded down $0.07 during mid-day trading on Thursday, reaching $2.83. The stock had a trading volume of 51,723 shares, compared to its average volume of 229,426. Aadi Bioscience has a one year low of $1.21 and a one year high of $3.81. The company has a 50-day moving average price of $2.87 and a two-hundred day moving average price of $2.21. The company has a market capitalization of $69.76 million, a price-to-earnings ratio of -1.24 and a beta of 0.65.

Aadi Bioscience (NASDAQ:AADI - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.46) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.46). The firm had revenue of $7.21 million for 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, equities research analysts anticipate that Aadi Bioscience will post -2.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aadi Bioscience

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BML Capital Management LLC bought a new stake in shares of Aadi Bioscience in the 3rd quarter worth $4,120,000. Peapod Lane Capital LLC bought a new stake in Aadi Bioscience in the 4th quarter worth about $1,397,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Aadi Bioscience in the 2nd quarter worth about $37,000. Finally, XTX Topco Ltd purchased a new position in Aadi Bioscience in the 3rd quarter worth about $32,000. 52.08% of the stock is owned by 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.