Short Interest in Aadi Bioscience, Inc. (NASDAQ:AADI) Expands By 16.6%

Aadi Bioscience, Inc. (NASDAQ:AADI) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,100,000 shares, a growth of 16.6% from the March 31st total of 943,100 shares. Currently, 6.3% of the shares of the company are short sold. Based on an average daily volume of 346,800 shares, the short-interest ratio is presently 3.2 days.

Aadi Bioscience Stock Up 4.2 %

Shares of NASDAQ AADI opened at $1.75 on Monday. The company’s fifty day simple moving average is $2.05 and its 200 day simple moving average is $2.83. Aadi Bioscience has a 12-month low of $1.55 and a 12-month high of $8.60. The firm has a market cap of $42.96 million, a PE ratio of -0.72 and a beta of 0.62.

Aadi Bioscience (NASDAQ:AADI) last released its earnings results on Wednesday, March 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.33 million during the quarter, compared to the consensus estimate of $6.46 million. On average, equities analysts predict that Aadi Bioscience will post -2.47 earnings per share for the current year.

Insider Buying and Selling at Aadi Bioscience

In related news, Chairman Neil Desai sold 42,000 shares of Aadi Bioscience stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $1.74, for a total transaction of $73,080.00. Following the sale, the chairman now directly owns 1,453,543 shares of the company’s stock, valued at approximately $2,529,164.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 101,772 shares of company stock valued at $198,819 in the last quarter. Company insiders own 35.80% of the company’s stock.

Institutional Investors Weigh In On Aadi Bioscience

A hedge fund recently raised its stake in Aadi Bioscience stock. TD Asset Management Inc increased its position in Aadi Bioscience, Inc. (NASDAQ:AADI) by 100.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,166 shares of the company’s stock after acquiring an additional 24,083 shares during the period. TD Asset Management Inc owned about 0.20% of Aadi Bioscience worth $233,000 at the end of the most recent reporting period. 52.08% of the stock is currently owned by institutional investors.

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.