Aadi Bioscience, Inc. (NASDAQ:AADI) Shares Purchased by Acuitas Investments LLC

Acuitas Investments LLC raised its stake in Aadi Bioscience, Inc. (NASDAQ:AADI) by 10.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 352,483 shares of the company’s stock after purchasing an additional 34,344 shares during the period. Acuitas Investments LLC’s holdings in Aadi Bioscience were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Marquette Asset Management LLC purchased a new stake in shares of Aadi Bioscience in the 1st quarter valued at about $135,000. Institutional investors and hedge funds own 52.08% of the company’s stock.

Aadi Bioscience Trading Down 0.6 %

NASDAQ:AADI opened at $1.79 on Friday. Aadi Bioscience, Inc. has a 12-month low of $1.21 and a 12-month high of $6.29. The stock’s 50 day simple moving average is $1.53 and its 200-day simple moving average is $1.79. The firm has a market cap of $43.95 million, a P/E ratio of -0.71 and a beta of 0.69.

Aadi Bioscience (NASDAQ:AADI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.17. The business had revenue of $6.18 million for the quarter, compared to analyst estimates of $6.33 million. Aadi Bioscience had a negative net margin of 274.77% and a negative return on equity of 66.67%. During the same period in the previous year, the business posted ($0.67) earnings per share. Research analysts forecast that Aadi Bioscience, Inc. will post -2.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AADI. Jefferies Financial Group downgraded Aadi Bioscience from a “buy” rating to a “hold” rating and dropped their price target for the stock from $11.00 to $1.50 in a research note on Wednesday, August 21st. HC Wainwright restated a “neutral” rating on shares of Aadi Bioscience in a research report on Wednesday, August 21st. TD Cowen downgraded shares of Aadi Bioscience from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Piper Sandler cut shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $5.00 to $1.75 in a research note on Tuesday, August 27th. Finally, 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 research note on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Aadi Bioscience has an average rating of “Hold” and an average price target of $10.25.

Insiders Place Their Bets

In other news, Chairman Neil Desai sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.71, for a total value of $68,400.00. Following the completion of the sale, the chairman now directly owns 1,171,543 shares of the company’s stock, valued at approximately $2,003,338.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 92,415 shares of company stock worth $144,551. Company insiders own 37.30% of the company’s stock.

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.