Aadi Bioscience (NASDAQ:AADI) Issues Earnings Results

Aadi Bioscience (NASDAQ:AADIGet Rating) announced its quarterly earnings data on Thursday. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.02, MarketWatch Earnings reports. During the same period last year, the company posted ($0.90) EPS.

NASDAQ:AADI traded up $1.37 during trading hours on Friday, hitting $14.02. 134,672 shares of the stock traded hands, compared to its average volume of 102,946. The firm has a 50 day moving average price of $16.63 and a 200 day moving average price of $20.15. Aadi Bioscience has a fifty-two week low of $11.00 and a fifty-two week high of $49.80.

A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded Aadi Bioscience from a “buy” rating to a “hold” rating in a research report on Tuesday, January 25th. HC Wainwright cut their price objective on Aadi Bioscience from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, April 11th. Finally, Piper Sandler cut their price objective on Aadi Bioscience from $50.00 to $30.00 in a research report on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Aadi Bioscience has a consensus rating of “Buy” and a consensus price target of $40.20.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in shares of Aadi Bioscience by 8.6% in the first quarter. Renaissance Technologies LLC now owns 139,522 shares of the company’s stock worth $2,368,000 after acquiring an additional 11,000 shares during the last quarter. BlackRock Inc. increased its stake in shares of Aadi Bioscience by 1,804.9% in the fourth quarter. BlackRock Inc. now owns 309,554 shares of the company’s stock worth $7,475,000 after acquiring an additional 293,304 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of Aadi Bioscience in the fourth quarter worth $530,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Aadi Bioscience in the fourth quarter worth $381,000. Finally, Marshall Wace LLP acquired a new position in shares of Aadi Bioscience in the fourth quarter worth $704,000. 62.56% of the stock is currently owned by institutional investors and hedge funds.

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.

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Earnings History for Aadi Bioscience (NASDAQ:AADI)

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