Aadi Bioscience, Inc. (NASDAQ:AADI) Sees Significant Decrease in Short Interest

Aadi Bioscience, Inc. (NASDAQ:AADI) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 943,100 shares, a decline of 16.5% from the March 15th total of 1,130,000 shares. Based on an average daily trading volume, of 386,100 shares, the short-interest ratio is currently 2.4 days. Currently, 5.4% of the shares of the stock are short sold.

Aadi Bioscience Price Performance

NASDAQ:AADI opened at $1.96 on Friday. The business has a fifty day simple moving average of $2.05 and a two-hundred day simple moving average of $3.04. Aadi Bioscience has a 1 year low of $1.55 and a 1 year high of $8.65. The company has a market capitalization of $48.12 million, a P/E ratio of -0.80 and a beta of 0.62.

Aadi Bioscience (NASDAQ:AADI) last released its earnings results 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. Aadi Bioscience had a negative return on equity of 52.53% and a negative net margin of 270.04%. The business had revenue of $6.33 million during the quarter, compared to the consensus estimate of $6.46 million. As a group, analysts anticipate that Aadi Bioscience will post -2.47 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. HC Wainwright downgraded shares of Aadi Bioscience from a “buy” rating to a “neutral” rating in a research report on Friday, December 15th. Piper Sandler cut their target price on Aadi Bioscience from $30.00 to $5.00 and set an “overweight” rating on the stock in a report on Friday, December 15th.

Insider Activity

In other news, Chairman Neil Desai sold 27,036 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $1.97, for a total transaction of $53,260.92. Following the completion of the transaction, 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 through this link. Over the last ninety days, insiders sold 101,772 shares of company stock worth $198,819. Corporate insiders own 35.80% of the company’s stock.

Hedge Funds Weigh In On Aadi Bioscience

A number of large investors have recently made changes to their positions in the stock. FMR LLC boosted its stake in Aadi Bioscience by 1,416.2% during the first quarter. FMR LLC now owns 4,124 shares of the company’s stock valued at $30,000 after buying an additional 3,852 shares during the period. Citigroup Inc. lifted its stake in Aadi Bioscience by 483,600.0% during the second quarter. Citigroup Inc. now owns 4,837 shares of the company’s stock worth $33,000 after purchasing an additional 4,836 shares during the last quarter. Legal & General Group Plc bought a new stake in Aadi Bioscience during the second quarter worth about $34,000. Mercer Global Advisors Inc. ADV bought a new stake in Aadi Bioscience during the fourth quarter worth about $37,000. Finally, Barclays PLC lifted its stake in Aadi Bioscience by 687.4% during the fourth quarter. Barclays PLC now owns 22,261 shares of the company’s stock worth $45,000 after purchasing an additional 19,434 shares during the last quarter. 52.08% of the stock is owned by institutional investors.

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.