Aadi Bioscience (NASDAQ:AADI) Issues Quarterly Earnings Results

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

Shares of NASDAQ:AADI opened at $14.02 on Friday. Aadi Bioscience has a 1 year low of $11.00 and a 1 year high of $49.80. The firm has a fifty day moving average price of $16.63 and a 200 day moving average price of $20.15.

AADI has been the topic of several recent analyst reports. HC Wainwright cut their target price 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. Zacks Investment Research downgraded shares of Aadi Bioscience from a “buy” rating to a “hold” rating in a research note on Tuesday, January 25th. Finally, Piper Sandler dropped their price target on shares of Aadi Bioscience from $50.00 to $30.00 in a research note on Thursday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Aadi Bioscience currently has a consensus rating of “Buy” and a consensus target price of $40.20.

In related news, insider Neil Desai sold 3,550 shares of the company’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $20.07, for a total value of $71,248.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new stake in shares of Aadi Bioscience in the fourth quarter valued at about $265,000. Renaissance Technologies LLC lifted its stake in shares of Aadi Bioscience by 8.6% in the first quarter. Renaissance Technologies LLC now owns 139,522 shares of the company’s stock valued at $2,368,000 after buying an additional 11,000 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in Aadi Bioscience in the fourth quarter worth about $381,000. Susquehanna International Group LLP acquired a new position in Aadi Bioscience in the fourth quarter worth about $530,000. Finally, Geode Capital Management LLC acquired a new position in Aadi Bioscience in the third quarter worth about $825,000. Institutional investors own 62.56% of the company’s stock.

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.

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