Short Interest in Aadi Bioscience, Inc. (NASDAQ:AADI) Decreases By 12.7%

Aadi Bioscience, Inc. (NASDAQ:AADI) was the recipient of a large drop in short interest in November. As of November 30th, there was short interest totalling 224,000 shares, a drop of 12.7% from the November 15th total of 256,500 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average trading volume of 125,300 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Cowen lowered Aadi Bioscience from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Piper Sandler downgraded shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $5.00 to $1.75 in a research note on Tuesday, August 27th. HC Wainwright restated a “neutral” rating on shares of Aadi Bioscience in a report on Wednesday, August 21st. Jefferies Financial Group lowered shares of Aadi Bioscience from a “buy” rating to a “hold” rating and lowered their target price for the stock from $11.00 to $1.50 in a report on Wednesday, August 21st. Finally, Piper Sandler Companies downgraded Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 price target on the stock. in a research note on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Aadi Bioscience presently has an average rating of “Hold” and an average target price of $1.67.

Hedge Funds Weigh In On Aadi Bioscience

A number of large investors have recently modified their holdings of the business. BML Capital Management LLC acquired a new stake in shares of Aadi Bioscience in the 3rd quarter valued at approximately $4,120,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Aadi Bioscience during the second quarter worth $37,000. Acuitas Investments LLC raised its position in Aadi Bioscience by 10.8% during the second quarter. Acuitas Investments LLC now owns 352,483 shares of the company’s stock worth $515,000 after acquiring an additional 34,344 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Aadi Bioscience in the third quarter valued at $32,000. 52.08% of the stock is currently owned by institutional investors and hedge funds.

Aadi Bioscience Price Performance

Shares of Aadi Bioscience stock opened at $2.41 on Friday. Aadi Bioscience has a one year low of $1.21 and a one year high of $5.49. The stock’s 50-day moving average is $2.17 and its 200-day moving average is $1.83. The firm has a market cap of $59.40 million, a price-to-earnings ratio of -1.06 and a beta of 0.73.

Aadi Bioscience (NASDAQ:AADI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.46) EPS for the quarter, hitting the consensus estimate of ($0.46). Aadi Bioscience had a negative net margin of 246.06% and a negative return on equity of 71.87%. The business had revenue of $7.21 million during the quarter, compared to analysts’ expectations of $6.55 million. During the same quarter in the prior year, the company posted ($0.60) earnings per share. On average, equities analysts expect that Aadi Bioscience will post -1.78 EPS for the current year.

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.