Short Interest in Aadi Bioscience, Inc. (NASDAQ:AADI) Increases By 6.0%

Aadi Bioscience, Inc. (NASDAQ:AADI) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 320,900 shares, an increase of 6.0% from the August 15th total of 302,600 shares. Based on an average daily volume of 295,100 shares, the short-interest ratio is presently 1.1 days. Approximately 1.8% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Jefferies Financial Group downgraded Aadi Bioscience from a “buy” rating to a “hold” rating and lowered their target price for the company from $11.00 to $1.50 in a research note on Wednesday, August 21st. Piper Sandler downgraded Aadi Bioscience from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $5.00 to $1.75 in a research note on Tuesday, August 27th. TD Cowen cut shares of Aadi Bioscience from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Piper Sandler Companies cut shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 price target on the stock. in a research report on Tuesday, August 27th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Aadi Bioscience in a research report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Aadi Bioscience currently has a consensus rating of “Hold” and an average price target of $10.25.

Aadi Bioscience Stock Down 2.1 %

Shares of NASDAQ AADI opened at $1.84 on Wednesday. The firm’s 50-day moving average price is $1.60 and its two-hundred day moving average price is $1.78. Aadi Bioscience has a 52-week low of $1.21 and a 52-week high of $5.70. The stock has a market capitalization of $45.18 million, a P/E ratio of -0.72 and a beta of 0.69.

Aadi Bioscience (NASDAQ:AADI) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.17. The company had revenue of $6.18 million for the quarter, compared to analysts’ expectations of $6.33 million. Aadi Bioscience had a negative return on equity of 66.67% and a negative net margin of 274.77%. During the same quarter in the previous year, the company posted ($0.67) earnings per share. As a group, equities research analysts expect that Aadi Bioscience will post -2.02 earnings per share for the current year.

Insider Activity at Aadi Bioscience

In other news, Chairman Neil Desai sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.71, for a total transaction of $68,400.00. Following the completion of the sale, the chairman now directly owns 1,171,543 shares in the company, valued at $2,003,338.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 92,415 shares of company stock worth $144,551. Corporate insiders own 37.30% of the company’s stock.

Institutional Investors Weigh In On Aadi Bioscience

A number of hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Aadi Bioscience during the second quarter valued at approximately $37,000. Acuitas Investments LLC increased its stake in shares of Aadi Bioscience by 10.8% during the second quarter. Acuitas Investments LLC now owns 352,483 shares of the company’s stock valued at $515,000 after acquiring an additional 34,344 shares during the period. Marquette Asset Management LLC acquired a new position in shares of Aadi Bioscience during the first quarter valued at approximately $135,000. Finally, Decheng Capital LLC acquired a new position in shares of Aadi Bioscience during the fourth quarter valued at approximately $1,063,000. Institutional investors 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.