Aadi Bioscience (NASDAQ:AADI) Issues Earnings Results, Hits Expectations

Aadi Bioscience (NASDAQ:AADI) released its quarterly earnings data on Wednesday. The company reported ($0.46) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.46), Zacks reports. The firm had revenue of $7.21 million for the quarter, compared to the consensus estimate of $6.55 million. Aadi Bioscience had a negative net margin of 274.77% and a negative return on equity of 66.67%. During the same period last year, the firm earned ($0.60) earnings per share.

Aadi Bioscience Trading Up 1.4 %

Shares of NASDAQ:AADI traded up $0.03 on Friday, hitting $2.13. 50,291 shares of the company were exchanged, compared to its average volume of 267,418. The firm has a market capitalization of $52.42 million, a P/E ratio of -0.87 and a beta of 0.71. Aadi Bioscience has a 1-year low of $1.21 and a 1-year high of $5.70. The stock’s 50 day moving average price is $1.95 and its 200 day moving average price is $1.76.

Insider Buying and Selling

In other Aadi Bioscience news, Chairman Neil Desai sold 40,000 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 1,171,543 shares of the company’s stock, valued at approximately $2,003,338.53. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 37.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.