Aadi Bioscience, Inc. (NASDAQ:AADI) Short Interest Down 12.7% in November

Aadi Bioscience, Inc. (NASDAQ:AADI) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 224,000 shares, a decline of 12.7% from the November 15th total of 256,500 shares. Based on an average daily trading volume, of 125,300 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.1% of the company’s shares are sold short.

Institutional Trading of Aadi Bioscience

Institutional investors have recently added to or reduced their stakes in the business. BML Capital Management LLC bought a new stake in shares of Aadi Bioscience in the 3rd quarter worth approximately $4,120,000. Acuitas Investments LLC lifted its stake in Aadi Bioscience by 10.8% in the second quarter. Acuitas Investments LLC now owns 352,483 shares of the company’s stock valued at $515,000 after buying an additional 34,344 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Aadi Bioscience during the second quarter valued at $37,000. Finally, XTX Topco Ltd bought a new position in shares of Aadi Bioscience during the third quarter worth about $32,000. Institutional investors own 52.08% of the company’s stock.

Aadi Bioscience Stock Performance

AADI stock opened at $2.41 on Monday. The firm has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $1.83. The company has a market capitalization of $59.40 million, a P/E ratio of -1.06 and a beta of 0.73. Aadi Bioscience has a twelve month low of $1.21 and a twelve month high of $5.49.

Aadi Bioscience (NASDAQ:AADI) last issued its earnings results on Wednesday, November 6th. The company reported ($0.46) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.46). Aadi Bioscience had a negative net margin of 246.06% and a negative return on equity of 71.87%. The business had revenue of $7.21 million for the quarter, compared to analyst estimates of $6.55 million. During the same quarter in the prior year, the business posted ($0.60) EPS. On average, research analysts predict that Aadi Bioscience will post -1.78 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AADI. Jefferies Financial Group downgraded Aadi Bioscience from a “buy” rating to a “hold” rating and lowered their price target for the company from $11.00 to $1.50 in a report on Wednesday, August 21st. Piper Sandler lowered 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. HC Wainwright restated a “neutral” rating on shares of Aadi Bioscience in a report on Wednesday, August 21st. TD Cowen downgraded shares of Aadi Bioscience from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Piper Sandler Companies cut shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 target price on the stock. in a research report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1.67.

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.