Zacks: Brokerages Anticipate Aadi Bioscience, Inc. (NASDAQ:AADI) to Announce -$0.72 EPS

Wall Street analysts expect that Aadi Bioscience, Inc. (NASDAQ:AADIGet Rating) will report ($0.72) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Aadi Bioscience’s earnings, with the lowest EPS estimate coming in at ($0.77) and the highest estimate coming in at ($0.66). Aadi Bioscience posted earnings per share of ($1.35) in the same quarter last year, which indicates a positive year over year growth rate of 46.7%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Aadi Bioscience will report full-year earnings of ($2.85) per share for the current year, with EPS estimates ranging from ($3.22) to ($2.26). For the next fiscal year, analysts anticipate that the company will post earnings of ($2.97) per share, with EPS estimates ranging from ($3.51) to ($2.30). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover Aadi Bioscience.

Aadi Bioscience (NASDAQ:AADIGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.02. During the same period in the previous year, the firm posted ($0.90) EPS.

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their target price on shares of Aadi Bioscience from $50.00 to $30.00 in a research report on Thursday, May 12th. Zacks Investment Research cut Aadi Bioscience from a “buy” rating to a “hold” rating in a research note on Tuesday, January 25th. Finally, HC Wainwright dropped their price objective on Aadi Bioscience from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, April 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $40.20.

AADI traded up $0.49 during trading hours on Thursday, reaching $14.35. 71,306 shares of the company’s stock traded hands, compared to its average volume of 118,402. The firm has a market capitalization of $300.52 million, a PE ratio of -1.20 and a beta of 1.57. Aadi Bioscience has a 52-week low of $11.00 and a 52-week high of $49.80. The firm has a 50-day moving average price of $16.36 and a 200 day moving average price of $19.89.

In other Aadi Bioscience news, insider Neil Desai sold 3,550 shares of the stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $20.07, for a total transaction of $71,248.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AADI. VR Adviser LLC bought a new stake in shares of Aadi Bioscience in the 3rd quarter valued at about $44,919,000. BVF Inc. IL bought a new stake in shares of Aadi Bioscience in the 3rd quarter valued at about $33,689,000. Rock Springs Capital Management LP bought a new stake in shares of Aadi Bioscience in the 3rd quarter valued at about $22,459,000. RTW Investments LP bought a new stake in shares of Aadi Bioscience in the 3rd quarter valued at about $21,336,000. Finally, State Street Corp boosted its holdings in shares of Aadi Bioscience by 72.0% in the 1st quarter. State Street Corp now owns 535,578 shares of the company’s stock valued at $9,089,000 after buying an additional 224,178 shares in the last quarter. 62.56% of the stock is currently owned by institutional investors and hedge funds.

Aadi Bioscience Company Profile (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.

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