Aadi Bioscience, Inc. (NASDAQ:AADI) Sees Large Increase in Short Interest

Aadi Bioscience, Inc. (NASDAQ:AADI) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,100,000 shares, an increase of 16.6% from the March 31st total of 943,100 shares. Based on an average daily volume of 346,800 shares, the short-interest ratio is currently 3.2 days. Currently, 6.3% of the company’s shares are short sold.

Aadi Bioscience Price Performance

Shares of Aadi Bioscience stock opened at $1.86 on Tuesday. Aadi Bioscience has a 1 year low of $1.55 and a 1 year high of $8.60. The stock has a market cap of $45.66 million, a price-to-earnings ratio of -0.76 and a beta of 0.62. The firm’s 50-day moving average is $2.05 and its two-hundred day moving average is $2.81.

Aadi Bioscience (NASDAQ:AADI) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.07. Aadi Bioscience had a negative net margin of 270.04% and a negative return on equity of 52.53%. The business had revenue of $6.33 million for the quarter, compared to analysts’ expectations of $6.46 million. On average, equities analysts expect that Aadi Bioscience will post -2.47 earnings per share for the current year.

Insider Transactions at Aadi Bioscience

In other news, Chairman Neil Desai sold 17,772 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $2.31, for a total value of $41,053.32. Following the transaction, the chairman now directly owns 1,393,771 shares in the company, valued at $3,219,611.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 101,772 shares of company stock worth $198,819. Insiders own 35.80% of the company’s stock.

Hedge Funds Weigh In On Aadi Bioscience

An institutional investor recently bought a new position in Aadi Bioscience stock. Decheng Capital LLC purchased a new position in shares of Aadi Bioscience, Inc. (NASDAQ:AADI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 526,329 shares of the company’s stock, valued at approximately $1,063,000. Aadi Bioscience comprises about 0.3% of Decheng Capital LLC’s holdings, making the stock its 22nd biggest holding. Decheng Capital LLC owned 2.15% of Aadi Bioscience at the end of the most recent reporting period. Hedge funds and other institutional investors own 52.08% of the company’s stock.

Aadi Bioscience Company Profile

Aadi Bioscience, Inc, a biopharmaceutical company, engages in developing and commercializing precision therapies for genetically defined cancers with alterations in mTOR pathway genes. Its lead drug product candidate comprises FYARRO, a form of sirolimus protein-bound particles for injectable suspension for the treatment in adult patients with advanced unresectable or metastatic malignant PEComa.