Aadi Bioscience (NASDAQ:AADI) Posts Earnings Results

Aadi Bioscience (NASDAQ:AADIGet Rating) posted its earnings results on Thursday. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.02, MarketWatch Earnings reports. During the same period in the previous year, the company posted ($0.90) EPS.

Shares of Aadi Bioscience stock traded up $1.37 during midday trading on Friday, hitting $14.02. The company had a trading volume of 134,672 shares, compared to its average volume of 102,946. The company has a 50 day moving average of $16.63 and a 200 day moving average of $20.15. Aadi Bioscience has a 52-week low of $11.00 and a 52-week high of $49.80.

In related news, insider Neil Desai sold 3,550 shares of the company’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $20.07, for a total value of $71,248.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in AADI. Millennium Management LLC bought a new position in Aadi Bioscience in the 2nd quarter valued at approximately $125,000. Geode Capital Management LLC bought a new position in Aadi Bioscience in the 3rd quarter valued at approximately $825,000. Citadel Advisors LLC bought a new position in Aadi Bioscience in the 3rd quarter valued at approximately $2,914,000. Bank of America Corp DE bought a new position in Aadi Bioscience in the 4th quarter valued at approximately $867,000. Finally, State Street Corp bought a new position in shares of Aadi Bioscience during the 4th quarter valued at $7,520,000. 62.56% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on AADI. HC Wainwright reduced their target price 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 cut their price target on Aadi Bioscience from $50.00 to $30.00 in a research note on Thursday. Finally, Zacks Investment Research downgraded Aadi Bioscience from a “buy” rating to a “hold” rating in a research note on Tuesday, January 25th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Aadi Bioscience currently has an average rating of “Buy” and an average target price of $40.20.

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.

Further Reading

Earnings History for Aadi Bioscience (NASDAQ:AADI)

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