Analysts Expect Aadi Bioscience, Inc. (NASDAQ:AADI) Will Post Quarterly Sales of $2.96 Million

Wall Street brokerages expect Aadi Bioscience, Inc. (NASDAQ:AADIGet Rating) to announce $2.96 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Aadi Bioscience’s earnings, with the lowest sales estimate coming in at $2.50 million and the highest estimate coming in at $3.89 million. The firm is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Aadi Bioscience will report full-year sales of $13.01 million for the current financial year, with estimates ranging from $8.80 million to $19.83 million. For the next financial year, analysts forecast that the company will post sales of $17.15 million, with estimates ranging from $13.50 million to $20.80 million. Zacks’ sales averages are an average based on a survey of research firms that cover Aadi Bioscience.

Aadi Bioscience (NASDAQ:AADIGet Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.02. During the same period in the previous year, the company earned ($0.90) earnings per share.

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

AADI opened at $14.79 on Friday. The stock’s fifty day moving average is $16.22 and its two-hundred day moving average is $19.70. The company has a market capitalization of $309.73 million, a P/E ratio of -1.24 and a beta of 1.57. Aadi Bioscience has a 52 week low of $11.00 and a 52 week high of $49.80.

In other Aadi Bioscience news, insider Neil Desai sold 3,550 shares of the stock in a transaction on Friday, March 18th. The stock was 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 accessible through the SEC website. 7.10% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada acquired a new stake in shares of Aadi Bioscience in the 1st quarter worth $49,000. US Bancorp DE acquired a new stake in shares of Aadi Bioscience in the 3rd quarter worth $98,000. Millennium Management LLC acquired a new stake in shares of Aadi Bioscience in the 2nd quarter worth $125,000. Sciencast Management LP acquired a new stake in shares of Aadi Bioscience in the 1st quarter worth $201,000. Finally, Ascent Wealth Partners LLC acquired a new stake in shares of Aadi Bioscience in the 4th quarter worth $241,000. 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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