Aadi Bioscience (NASDAQ:AADI) Posts Earnings Results, Hits Estimates

Aadi Bioscience (NASDAQ:AADI) released its earnings results on Wednesday. The company reported ($0.46) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.46), Zacks reports. Aadi Bioscience had a negative net margin of 274.77% and a negative return on equity of 66.67%. The company had revenue of $7.21 million during the quarter, compared to analyst estimates of $6.55 million. During the same period in the prior year, the firm posted ($0.60) EPS.

Aadi Bioscience Stock Performance

Shares of AADI traded down $0.02 during midday trading on Thursday, hitting $2.10. 164,419 shares of the company traded hands, compared to its average volume of 78,156. Aadi Bioscience has a 52 week low of $1.21 and a 52 week high of $5.70. The firm has a 50 day moving average of $1.95 and a 200-day moving average of $1.76. The stock has a market cap of $51.68 million, a price-to-earnings ratio of -0.87 and a beta of 0.71.

Wall Street Analyst Weigh In

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

Insider Transactions at Aadi Bioscience

In other Aadi Bioscience news, Chairman Neil Desai sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.71, for a total transaction of $68,400.00. Following the completion of the transaction, the chairman now owns 1,171,543 shares in the company, valued at $2,003,338.53. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 37.30% of the company’s stock.

About Aadi Bioscience

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.