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

Aadi Bioscience, Inc. (NASDAQ:AADI) was the recipient of a significant increase in short interest during the month of 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 trading volume, of 295,100 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.8% of the shares of the stock are short sold.

Aadi Bioscience Stock Down 2.1 %

Shares of NASDAQ:AADI opened at $1.84 on Wednesday. The firm has a fifty day moving average of $1.60 and a two-hundred day moving average of $1.78. The firm has a market capitalization of $45.18 million, a P/E ratio of -0.72 and a beta of 0.69. Aadi Bioscience has a 12-month low of $1.21 and a 12-month high of $5.70.

Aadi Bioscience (NASDAQ:AADI) last issued its 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. Aadi Bioscience had a negative net margin of 274.77% and a negative return on equity of 66.67%. The company had revenue of $6.18 million during the quarter, compared to analyst estimates of $6.33 million. During the same quarter last year, the business posted ($0.67) EPS. Equities research analysts expect that Aadi Bioscience will post -2.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Aadi Bioscience news, Chairman Neil Desai sold 40,000 shares of Aadi Bioscience stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $1.71, for a total value of $68,400.00. Following the transaction, the chairman now owns 1,171,543 shares in the company, valued at $2,003,338.53. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have sold 92,415 shares of company stock worth $144,551. 37.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Aadi Bioscience

Several institutional investors and hedge funds have recently modified their holdings of AADI. Decheng Capital LLC acquired a new stake in shares of Aadi Bioscience in the 4th quarter valued at $1,063,000. Marquette Asset Management LLC acquired a new stake in shares of Aadi Bioscience in the 1st quarter valued at $135,000. Acuitas Investments LLC lifted its stake in shares of Aadi Bioscience by 10.8% in the 2nd quarter. Acuitas Investments LLC now owns 352,483 shares of the company’s stock valued at $515,000 after purchasing an additional 34,344 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Aadi Bioscience in the 2nd quarter valued at $37,000. 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.