Aadi Bioscience (NASDAQ:AADI) Releases Earnings Results, Beats Estimates By $0.02 EPS

Aadi Bioscience (NASDAQ:AADIGet Rating) announced its earnings results on Thursday. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.02, MarketWatch Earnings reports. During the same quarter last year, the firm earned ($0.90) earnings per share.

NASDAQ:AADI opened at $14.02 on Friday. The company’s 50-day moving average is $16.63 and its two-hundred day moving average is $20.15. Aadi Bioscience has a 12-month low of $11.00 and a 12-month high of $49.80.

Several equities analysts have issued reports on AADI shares. HC Wainwright dropped their price objective on shares of Aadi Bioscience from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, April 11th. Piper Sandler dropped their price objective on shares of Aadi Bioscience from $50.00 to $30.00 in a research note on Thursday. Finally, Zacks Investment Research cut shares of Aadi Bioscience from a “buy” rating to a “hold” rating in a research note on Tuesday, January 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Aadi Bioscience has an average rating of “Buy” and an average price target of $40.20.

In other Aadi Bioscience news, insider Neil Desai sold 3,550 shares of the company’s stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $20.07, for a total value of $71,248.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new stake in Aadi Bioscience during the 2nd quarter worth approximately $125,000. Cubist Systematic Strategies LLC acquired a new position in Aadi Bioscience in the fourth quarter valued at approximately $265,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Aadi Bioscience during the 4th quarter worth approximately $381,000. Susquehanna International Group LLP acquired a new stake in shares of Aadi Bioscience during the 4th quarter worth approximately $530,000. Finally, Marshall Wace LLP acquired a new stake in shares of Aadi Bioscience during the 4th quarter worth approximately $704,000. 62.56% of the stock is owned by institutional investors.

About Aadi Bioscience (Get Rating)

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 candidate, FYARRO is a form of sirolimus bound to albumin. Aadi is evaluating FYARRO in cancers with known mTOR pathway activation, including tumor agnostic indications targeting specific genomic alterations that activate the mTOR pathway.

Further Reading

Earnings History for Aadi Bioscience (NASDAQ:AADI)

Receive News & Ratings for Aadi Bioscience Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aadi Bioscience and related companies with MarketBeat.com's FREE daily email newsletter.