Aadi Bioscience, Inc. (NASDAQ:AADI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Aadi Bioscience, Inc. (NASDAQ:AADI – Get Rating) have been assigned a consensus rating of “Buy” from the six research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $43.50.

A number of research analysts have weighed in on the company. HC Wainwright decreased their price objective on Aadi Bioscience from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, April 11th. Piper Sandler decreased their price objective on Aadi Bioscience from $50.00 to $30.00 in a report on Thursday, May 12th.

Shares of AADI stock opened at $14.67 on Friday. The stock’s fifty day moving average is $15.46 and its two-hundred day moving average is $18.75. The firm has a market capitalization of $307.22 million, a P/E ratio of -1.23 and a beta of 1.56. Aadi Bioscience has a fifty-two week low of $11.00 and a fifty-two week high of $49.80.

Aadi Bioscience (NASDAQ:AADI – Get Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.02. During the same period in the previous year, the business posted ($0.90) earnings per share. As a group, equities research analysts predict that Aadi Bioscience will post -2.85 earnings per share for the current year.

In other news, insider Neil Desai sold 3,550 shares of Aadi Bioscience stock in a transaction on Friday, March 18th. The stock was sold at an average price of $20.07, for a total transaction of $71,248.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. 7.10% of the stock is owned by insiders.

Several large investors have recently modified their holdings of AADI. VR Adviser LLC acquired a new stake in shares of Aadi Bioscience during the 3rd quarter worth about $44,919,000. BVF Inc. IL acquired a new stake in shares of Aadi Bioscience during the 3rd quarter worth about $33,689,000. Rock Springs Capital Management LP acquired a new stake in shares of Aadi Bioscience during the 3rd quarter worth about $22,459,000. RTW Investments LP acquired a new stake in shares of Aadi Bioscience during the 3rd quarter worth about $21,336,000. Finally, Decheng Capital Management III Cayman LLC acquired a new stake in shares of Aadi Bioscience during the 1st quarter worth about $8,932,000. 62.56% of the stock is owned by hedge funds and other institutional investors.

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.

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