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

Aadi Bioscience, Inc. (NASDAQ:AADI) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 943,100 shares, a decrease of 16.5% from the March 15th total of 1,130,000 shares. Based on an average trading volume of 386,100 shares, the short-interest ratio is presently 2.4 days. Approximately 5.4% of the shares of the company are sold short.

Insider Buying and Selling at Aadi Bioscience

In other news, Chairman Neil Desai sold 17,772 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $2.31, for a total transaction of $41,053.32. Following the completion of the sale, the chairman now owns 1,393,771 shares of the company’s stock, valued at approximately $3,219,611.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 101,772 shares of company stock worth $198,819. Company insiders own 35.80% of the company’s stock.

Institutional Trading of Aadi Bioscience

A number of institutional investors and hedge funds have recently made changes to their positions in the business. TD Asset Management Inc increased its position in shares of Aadi Bioscience by 100.0% during the third quarter. TD Asset Management Inc now owns 48,166 shares of the company’s stock worth $233,000 after purchasing an additional 24,083 shares in the last quarter. Deutsche Bank AG boosted its stake in Aadi Bioscience by 46.4% during the first quarter. Deutsche Bank AG now owns 9,381 shares of the company’s stock worth $68,000 after buying an additional 2,973 shares during the last quarter. UBS Group AG acquired a new position in Aadi Bioscience during the fourth quarter worth $64,000. MetLife Investment Management LLC acquired a new position in Aadi Bioscience during the second quarter worth $59,000. Finally, Barclays PLC boosted its stake in Aadi Bioscience by 88.2% during the first quarter. Barclays PLC now owns 7,316 shares of the company’s stock worth $53,000 after buying an additional 3,428 shares during the last quarter. 52.08% of the stock is currently owned by hedge funds and other institutional investors.

Aadi Bioscience Stock Down 1.5 %

Aadi Bioscience stock opened at $1.96 on Friday. Aadi Bioscience has a 52 week low of $1.55 and a 52 week high of $8.65. The company has a market capitalization of $48.12 million, a price-to-earnings ratio of -0.80 and a beta of 0.62. The stock has a 50-day moving average price of $2.05 and a 200 day moving average price of $3.04.

Aadi Bioscience (NASDAQ:AADI) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.07. Aadi Bioscience had a negative return on equity of 52.53% and a negative net margin of 270.04%. The company had revenue of $6.33 million during the quarter, compared to the consensus estimate of $6.46 million. Research analysts anticipate that Aadi Bioscience will post -2.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler lowered their price target on Aadi Bioscience from $30.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday, December 15th. HC Wainwright lowered Aadi Bioscience from a “buy” rating to a “neutral” rating in a research note on Friday, December 15th.

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.