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

Aadi Bioscience, Inc. (NASDAQ:AADI) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,100,000 shares, an increase of 16.6% from the March 31st total of 943,100 shares. Approximately 6.3% of the shares of the company are sold short. Based on an average daily volume of 346,800 shares, the short-interest ratio is currently 3.2 days.

Insiders Place Their Bets

In related news, Chairman Neil Desai sold 27,036 shares of Aadi Bioscience stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $1.97, for a total value of $53,260.92. Following the sale, the chairman now owns 1,426,507 shares of the company’s stock, valued at approximately $2,810,218.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 101,772 shares of company stock valued at $198,819. Insiders own 35.80% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Aadi Bioscience stock. TD Asset Management Inc raised its position in shares of Aadi Bioscience, Inc. (NASDAQ:AADI) by 100.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,166 shares of the company’s stock after buying an additional 24,083 shares during the quarter. TD Asset Management Inc owned about 0.20% of Aadi Bioscience worth $233,000 at the end of the most recent quarter. 52.08% of the stock is owned by hedge funds and other institutional investors.

Aadi Bioscience Stock Up 4.2 %

Aadi Bioscience stock opened at $1.75 on Monday. The business has a 50-day simple moving average of $2.05 and a 200 day simple moving average of $2.83. Aadi Bioscience has a 52 week low of $1.55 and a 52 week high of $8.60. The stock has a market cap of $42.96 million, a price-to-earnings ratio of -0.72 and a beta of 0.62.

Aadi Bioscience (NASDAQ:AADI) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.07. The firm had revenue of $6.33 million during the quarter, compared to analysts’ expectations of $6.46 million. Aadi Bioscience had a negative return on equity of 52.53% and a negative net margin of 270.04%. On average, research analysts anticipate that Aadi Bioscience will post -2.47 earnings per share for the current year.

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.