Aadi Bioscience, Inc. (NASDAQ:AADI) Short Interest Update

Aadi Bioscience, Inc. (NASDAQ:AADIGet Rating) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 937,900 shares, a growth of 27.6% from the October 15th total of 735,100 shares. Approximately 6.1% of the shares of the stock are sold short. Based on an average trading volume of 117,200 shares, the days-to-cover ratio is presently 8.0 days.

Hedge Funds Weigh In On Aadi Bioscience

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. boosted its holdings in shares of Aadi Bioscience by 156.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 542,044 shares of the company’s stock worth $6,678,000 after purchasing an additional 330,513 shares in the last quarter. State Street Corp boosted its holdings in shares of Aadi Bioscience by 72.0% in the 1st quarter. State Street Corp now owns 535,578 shares of the company’s stock worth $9,089,000 after purchasing an additional 224,178 shares in the last quarter. Decheng Capital Management III Cayman LLC purchased a new position in shares of Aadi Bioscience in the 1st quarter worth about $8,932,000. Ikarian Capital LLC boosted its holdings in shares of Aadi Bioscience by 97.9% in the 2nd quarter. Ikarian Capital LLC now owns 412,343 shares of the company’s stock worth $1,274,000 after purchasing an additional 203,975 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Aadi Bioscience by 24.4% in the 2nd quarter. Renaissance Technologies LLC now owns 173,522 shares of the company’s stock worth $2,138,000 after purchasing an additional 34,000 shares in the last quarter. 63.00% of the stock is currently owned by hedge funds and other institutional investors.

Aadi Bioscience Stock Down 1.8 %

Shares of NASDAQ AADI opened at $13.45 on Friday. The firm has a market capitalization of $328.18 million, a P/E ratio of -4.51 and a beta of 1.28. The stock’s 50-day simple moving average is $13.03 and its two-hundred day simple moving average is $13.48. Aadi Bioscience has a twelve month low of $11.00 and a twelve month high of $32.50.

Aadi Bioscience (NASDAQ:AADIGet Rating) last announced its earnings results on Wednesday, August 10th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.01). Aadi Bioscience had a negative return on equity of 48.39% and a negative net margin of 569.57%. The business had revenue of $3.44 million during the quarter, compared to the consensus estimate of $2.96 million. As a group, research analysts anticipate that Aadi Bioscience will post -2.92 EPS for the current fiscal year.

About Aadi Bioscience

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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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