Aadi Bioscience, Inc. (NASDAQ:AADI) CEO Sells $18,796.66 in Stock

Aadi Bioscience, Inc. (NASDAQ:AADI) CEO David James Lennon sold 9,689 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $1.94, for a total transaction of $18,796.66. Following the completion of the transaction, the chief executive officer now owns 22,869 shares in the company, valued at approximately $44,365.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Aadi Bioscience Stock Up 1.0 %

NASDAQ AADI opened at $1.94 on Friday. The firm has a market capitalization of $47.63 million, a P/E ratio of -0.76 and a beta of 0.70. The company has a 50-day moving average price of $1.70 and a 200-day moving average price of $1.77. Aadi Bioscience, Inc. has a 52 week low of $1.21 and a 52 week high of $5.70.

Aadi Bioscience (NASDAQ:AADI) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.17. Aadi Bioscience had a negative net margin of 274.77% and a negative return on equity of 66.67%. The business had revenue of $6.18 million for the quarter, compared to the consensus estimate of $6.33 million. During the same period last year, the firm earned ($0.67) earnings per share. As a group, equities research analysts anticipate that Aadi Bioscience, Inc. will post -2.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AADI shares. Piper Sandler Companies cut shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 price target on the stock. in a report on Tuesday, August 27th. Piper Sandler downgraded Aadi Bioscience from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $5.00 to $1.75 in a report on Tuesday, August 27th. TD Cowen downgraded Aadi Bioscience from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Jefferies Financial Group lowered shares of Aadi Bioscience from a “buy” rating to a “hold” rating and reduced their price target for the stock from $11.00 to $1.50 in a research note on Wednesday, August 21st. Finally, HC Wainwright reissued a “neutral” rating on shares of Aadi Bioscience in a report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Aadi Bioscience presently has an average rating of “Hold” and a consensus price target of $10.25.

Hedge Funds Weigh In On Aadi Bioscience

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Marquette Asset Management LLC bought a new position in shares of Aadi Bioscience in the first quarter worth about $135,000. Acuitas Investments LLC raised its stake in Aadi Bioscience by 10.8% during the 2nd quarter. Acuitas Investments LLC now owns 352,483 shares of the company’s stock worth $515,000 after acquiring an additional 34,344 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Aadi Bioscience during the second quarter valued at approximately $37,000. 52.08% of the stock is currently owned by hedge funds and other institutional investors.

About Aadi Bioscience

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.