Aadi Bioscience, Inc. (NASDAQ:AADI) Short Interest Up 22.8% in September

Aadi Bioscience, Inc. (NASDAQ:AADI) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 394,100 shares, an increase of 22.8% from the August 31st total of 320,900 shares. Approximately 2.2% of the company’s stock are sold short. Based on an average daily volume of 294,600 shares, the short-interest ratio is currently 1.3 days.

Insider Transactions at Aadi Bioscience

In related news, Chairman Neil Desai sold 40,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at $2,003,338.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 92,415 shares of company stock valued at $144,551. Insiders own 37.30% of the company’s stock.

Institutional Investors Weigh In On Aadi Bioscience

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Aadi Bioscience in the second quarter worth $37,000. Marquette Asset Management LLC acquired a new stake in shares of Aadi Bioscience during the 1st quarter valued at approximately $135,000. Finally, Acuitas Investments LLC lifted 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 valued at $515,000 after acquiring an additional 34,344 shares during the period. Hedge funds and other institutional investors own 52.08% of the company’s stock.

Aadi Bioscience Stock Performance

Shares of NASDAQ:AADI opened at $1.93 on Friday. Aadi Bioscience has a one year low of $1.21 and a one year high of $5.70. The stock has a market capitalization of $47.39 million, a price-to-earnings ratio of -0.76 and a beta of 0.69. The company has a 50-day simple moving average of $1.66 and a 200-day simple moving average of $1.77.

Aadi Bioscience (NASDAQ:AADI) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.17. The company had revenue of $6.18 million during the quarter, compared to analysts’ expectations of $6.33 million. Aadi Bioscience had a negative return on equity of 66.67% and a negative net margin of 274.77%. During the same period last year, the firm earned ($0.67) EPS. As a group, research analysts forecast that Aadi Bioscience will post -2.02 EPS for the current fiscal year.

Analysts Set New Price Targets

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