Aadi Bioscience (NASDAQ:AADI) Posts Earnings Results, Beats Estimates By $0.02 EPS

Aadi Bioscience (NASDAQ:AADIGet Rating) announced its quarterly 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 in the previous year, the firm posted ($0.90) EPS.

Shares of Aadi Bioscience stock 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’s 50-day moving average is $16.63 and its 200 day moving average is $20.15.

In other Aadi Bioscience news, insider Neil Desai sold 3,550 shares of Aadi Bioscience stock in a transaction dated 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 can be accessed through the SEC website. 7.10% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of AADI. Millennium Management LLC bought a new stake in Aadi Bioscience in the 2nd quarter worth about $125,000. Geode Capital Management LLC bought a new stake in shares of Aadi Bioscience in the third quarter worth approximately $825,000. Citadel Advisors LLC bought a new position in Aadi Bioscience during the third quarter valued at approximately $2,914,000. Bank of America Corp DE purchased a new stake in Aadi Bioscience in the fourth quarter worth approximately $867,000. Finally, State Street Corp bought a new stake in Aadi Bioscience in the 4th quarter worth approximately $7,520,000. Hedge funds and other institutional investors own 62.56% of the company’s stock.

AADI has been the topic of several research reports. Piper Sandler dropped their price target on Aadi Bioscience from $50.00 to $30.00 in a research report on Thursday. HC Wainwright dropped their target price on shares of Aadi Bioscience from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, April 11th. Finally, Zacks Investment Research lowered shares of Aadi Bioscience from a “buy” rating to a “hold” rating in a research note on Tuesday, January 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $40.20.

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.

See Also

Earnings History for Aadi Bioscience (NASDAQ:AADI)

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