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

Aadi Bioscience (NASDAQ:AADI – Get Rating) posted its quarterly earnings data on Thursday. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.02, MarketWatch Earnings reports. During the same quarter in the prior year, the business posted ($0.90) EPS.

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 company’s fifty day moving average price is $16.63 and its 200-day moving average price is $20.15.

In other news, insider Neil Desai sold 3,550 shares of the 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AADI. State Street Corp purchased a new stake in Aadi Bioscience during the fourth quarter worth $7,520,000. BlackRock Inc. lifted its holdings in Aadi Bioscience by 1,804.9% during the fourth quarter. BlackRock Inc. now owns 309,554 shares of the company’s stock valued at $7,475,000 after purchasing an additional 293,304 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Aadi Bioscience by 601.3% during the fourth quarter. Geode Capital Management LLC now owns 197,073 shares of the company’s stock valued at $4,759,000 after purchasing an additional 168,970 shares in the last quarter. Citadel Advisors LLC lifted its holdings in Aadi Bioscience by 132.4% during the fourth quarter. Citadel Advisors LLC now owns 230,529 shares of the company’s stock valued at $5,567,000 after purchasing an additional 131,336 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Aadi Bioscience in the second quarter worth about $125,000. 62.56% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on AADI. Piper Sandler cut their price target on shares of Aadi Bioscience from $50.00 to $30.00 in a research note on Thursday. HC Wainwright cut their price target 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. 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 investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Aadi Bioscience has an average rating of “Buy” and a consensus price target of $40.20.

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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