Aadi Bioscience (NASDAQ:AADI) Posts Earnings Results

Aadi Bioscience (NASDAQ:AADI) released its earnings results on Wednesday. The company reported ($0.46) earnings per share for the quarter, meeting the consensus estimate of ($0.46), Zacks reports. The business had revenue of $7.21 million for the quarter, compared to the consensus estimate of $6.55 million. Aadi Bioscience had a negative return on equity of 66.67% and a negative net margin of 274.77%. During the same quarter last year, the business posted ($0.60) earnings per share.

Aadi Bioscience Price Performance

Shares of Aadi Bioscience stock traded up $0.03 during trading hours on Friday, hitting $2.13. The company had a trading volume of 50,291 shares, compared to its average volume of 267,418. The company’s 50-day moving average is $1.95 and its two-hundred day moving average is $1.76. Aadi Bioscience has a twelve month low of $1.21 and a twelve month high of $5.70. The company has a market cap of $52.42 million, a P/E ratio of -0.87 and a beta of 0.71.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AADI shares. TD Cowen cut Aadi Bioscience from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Piper Sandler Companies lowered shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 price objective on the stock. in a report 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 downgraded Aadi Bioscience from a “buy” rating to a “hold” rating and cut their price objective for the company from $11.00 to $1.50 in a report on Wednesday, August 21st. Finally, Piper Sandler cut shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $5.00 to $1.75 in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.25.

Insider Activity at Aadi Bioscience

In other Aadi Bioscience news, Chairman Neil Desai sold 40,000 shares of Aadi Bioscience stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.71, for a total transaction of $68,400.00. Following the transaction, the chairman now owns 1,171,543 shares of the company’s stock, valued at $2,003,338.53. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 37.30% of the stock is owned by corporate insiders.

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.