Aadi Bioscience, Inc. (NASDAQ:AADI – Get Free Report) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 623,300 shares, a decline of 5.1% from the August 15th total of 656,500 shares. Based on an average trading volume of 139,700 shares, the days-to-cover ratio is currently 4.5 days. Currently, 3.7% of the company’s shares are sold short.
Aadi Bioscience Price Performance
NASDAQ AADI opened at $5.38 on Wednesday. Aadi Bioscience has a 1 year low of $5.06 and a 1 year high of $14.77. The stock has a market capitalization of $131.92 million, a PE ratio of -2.20 and a beta of 1.09. The business’s 50-day moving average is $5.85 and its 200 day moving average is $7.02.
Aadi Bioscience (NASDAQ:AADI – Get Free Report) last issued its quarterly earnings data on Wednesday, August 9th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.03). Aadi Bioscience had a negative return on equity of 40.72% and a negative net margin of 285.87%. The business had revenue of $6.20 million during the quarter, compared to the consensus estimate of $6.18 million. As a group, equities research analysts anticipate that Aadi Bioscience will post -2.76 earnings per share for the current year.
Analyst Upgrades and Downgrades
Separately, HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of Aadi Bioscience in a report on Thursday, August 10th.
Insider Transactions at Aadi Bioscience
In other news, Chairman Neil Desai sold 10,000 shares of Aadi Bioscience stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $6.64, for a total value of $66,400.00. Following the transaction, the chairman now owns 1,779,543 shares in the company, valued at $11,816,165.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 83,770 shares of company stock worth $492,014. 35.80% of the stock is currently owned by insiders.
Institutional Trading of Aadi Bioscience
Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Aadi Bioscience by 20.1% in the second quarter. JPMorgan Chase & Co. now owns 13,362 shares of the company’s stock valued at $91,000 after acquiring an additional 2,234 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Aadi Bioscience by 59.4% in the third quarter. Tower Research Capital LLC TRC now owns 6,462 shares of the company’s stock worth $91,000 after buying an additional 2,408 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Aadi Bioscience by 21.1% in the second quarter. Cubist Systematic Strategies LLC now owns 15,538 shares of the company’s stock worth $191,000 after buying an additional 2,712 shares during the period. Legal & General Group Plc purchased a new stake in Aadi Bioscience in the second quarter worth about $34,000. Finally, Bank of New York Mellon Corp lifted its holdings in Aadi Bioscience by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 48,707 shares of the company’s stock worth $333,000 after buying an additional 2,812 shares during the period. Institutional investors own 58.31% of the company’s stock.
Aadi Bioscience Company Profile
Aadi Bioscience, Inc, a clinical-stage 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 bound to albumin. The company is also involved in evaluating FYARRO in cancers with known mTOR pathway activation, including tumor agnostic indications targeting specific genomic alterations that activate the mTOR pathway.