Aadi Bioscience (NASDAQ:AADI) Announces Quarterly Earnings Results

Aadi Bioscience (NASDAQ:AADI – Get Rating) released its earnings results on Thursday. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.02, MarketWatch Earnings reports. During the same quarter last year, the firm posted ($0.90) EPS.

Shares of Aadi Bioscience stock traded up $1.37 during trading on Friday, hitting $14.02. The stock had a trading volume of 134,672 shares, compared to its average volume of 102,946. The stock has a 50 day simple moving average of $16.63 and a 200 day simple moving average of $20.15. Aadi Bioscience has a 1 year low of $11.00 and a 1 year high of $49.80.

In other Aadi Bioscience 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 transaction of $71,248.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp acquired a new position in Aadi Bioscience during the 4th quarter worth $7,520,000. BlackRock Inc. increased its stake in Aadi Bioscience by 1,804.9% during the fourth quarter. BlackRock Inc. now owns 309,554 shares of the company’s stock valued at $7,475,000 after acquiring an additional 293,304 shares during the period. Citadel Advisors LLC raised its holdings in Aadi Bioscience by 132.4% in the 4th quarter. Citadel Advisors LLC now owns 230,529 shares of the company’s stock valued at $5,567,000 after acquiring an additional 131,336 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Aadi Bioscience by 601.3% in the 4th quarter. Geode Capital Management LLC now owns 197,073 shares of the company’s stock worth $4,759,000 after acquiring an additional 168,970 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Aadi Bioscience by 8.6% in the 1st 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 period. 62.56% of the stock is owned by hedge funds and other institutional investors.

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

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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