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

Aadi Bioscience (NASDAQ:AADIGet 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.

Further Reading

Earnings History for Aadi Bioscience (NASDAQ:AADI)

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