Aadi Bioscience, Inc. (NASDAQ:AADI) Sees Large Drop in Short Interest

Aadi Bioscience, Inc. (NASDAQ:AADI) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 256,500 shares, a decrease of 8.8% from the October 31st total of 281,100 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 148,600 shares, the short-interest ratio is currently 1.7 days.

Aadi Bioscience Stock Up 0.4 %

Shares of NASDAQ AADI traded up $0.01 during mid-day trading on Wednesday, reaching $2.49. 101,485 shares of the company were exchanged, compared to its average volume of 259,140. The stock has a market cap of $61.38 million, a price-to-earnings ratio of -1.09 and a beta of 0.73. Aadi Bioscience has a 1 year low of $1.21 and a 1 year high of $5.54. The firm has a 50-day moving average of $2.09 and a 200 day moving average of $1.80.

Aadi Bioscience (NASDAQ:AADI) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.46) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.46). The business had revenue of $7.21 million for the quarter, compared to analyst estimates of $6.55 million. Aadi Bioscience had a negative return on equity of 71.87% and a negative net margin of 246.06%. During the same period in the prior year, the company earned ($0.60) earnings per share. On average, equities analysts forecast that Aadi Bioscience will post -1.98 earnings per share for the current year.

Hedge Funds Weigh In On Aadi Bioscience

A number of institutional investors have recently added to or reduced their stakes in the stock. BML Capital Management LLC acquired a new stake in Aadi Bioscience during the third quarter worth $4,120,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Aadi Bioscience during the second quarter worth $37,000. Acuitas Investments LLC increased its stake in Aadi Bioscience by 10.8% during the second quarter. Acuitas Investments LLC now owns 352,483 shares of the company’s stock worth $515,000 after acquiring an additional 34,344 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Aadi Bioscience during the third quarter worth $32,000. Hedge funds and other institutional investors own 52.08% of the company’s stock.

Analyst Upgrades and Downgrades

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