Aadi Bioscience (NASDAQ:AADI) Stock Rating Reaffirmed by HC Wainwright

Aadi Bioscience (NASDAQ:AADI)‘s stock had its “neutral” rating reiterated by stock analysts at HC Wainwright in a report released on Wednesday, Benzinga reports.

Separately, TD Cowen downgraded shares of Aadi Bioscience from a “buy” rating to a “hold” rating in a report on Wednesday.

Aadi Bioscience Price Performance

Shares of AADI opened at $1.55 on Wednesday. The company has a market capitalization of $38.06 million, a price-to-earnings ratio of -0.61 and a beta of 0.69. Aadi Bioscience has a 52 week low of $1.21 and a 52 week high of $7.24. The stock’s 50-day moving average price is $1.51 and its 200-day moving average price is $1.80.

Aadi Bioscience (NASDAQ:AADI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.17. The company had revenue of $6.18 million during the quarter, compared to the consensus estimate of $6.33 million. Aadi Bioscience had a negative return on equity of 61.83% and a negative net margin of 288.72%. During the same period in the previous year, the company posted ($0.67) earnings per share. As a group, equities analysts anticipate that Aadi Bioscience will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Neil Desai sold 31,348 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $1.45, for a total value of $45,454.60. Following the completion of the sale, the chairman now directly owns 1,260,195 shares in the company, valued at $1,827,282.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 52,415 shares of company stock worth $76,151. 37.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aadi Bioscience

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Aadi Bioscience during the second quarter valued at $37,000. Acuitas Investments LLC raised its position in shares of Aadi Bioscience by 10.8% during the 2nd quarter. Acuitas Investments LLC now owns 352,483 shares of the company’s stock worth $515,000 after purchasing an additional 34,344 shares during the last quarter. Marquette Asset Management LLC purchased a new position in Aadi Bioscience in the 1st quarter valued at about $135,000. Finally, Decheng Capital LLC acquired a new stake in Aadi Bioscience in the 4th quarter worth about $1,063,000. Institutional investors and hedge funds own 52.08% of the company’s stock.

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.