Aadi Bioscience (NASDAQ:AADI) Issues Quarterly Earnings Results, Meets Estimates

Aadi Bioscience (NASDAQ:AADI) posted its quarterly earnings data on Wednesday. The company reported ($0.46) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.46), Zacks reports. Aadi Bioscience had a negative net margin of 274.77% and a negative return on equity of 66.67%. The company had revenue of $7.21 million for the quarter, compared to analyst estimates of $6.55 million. During the same period in the prior year, the company posted ($0.60) EPS.

Aadi Bioscience Price Performance

NASDAQ AADI traded down $0.02 during midday trading on Thursday, hitting $2.10. 164,419 shares of the company traded hands, compared to its average volume of 78,156. Aadi Bioscience has a 52 week low of $1.21 and a 52 week high of $5.70. The company’s 50-day simple moving average is $1.95 and its 200-day simple moving average is $1.76. The company has a market cap of $51.68 million, a PE ratio of -0.87 and a beta of 0.71.

Insider Transactions at Aadi Bioscience

In related news, Chairman Neil Desai sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.71, for a total transaction of $68,400.00. Following the sale, the chairman now owns 1,171,543 shares of the company’s stock, valued at $2,003,338.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 37.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AADI shares. HC Wainwright reaffirmed a “neutral” rating on shares of Aadi Bioscience in a research note on Wednesday, August 21st. Piper Sandler downgraded Aadi Bioscience from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $5.00 to $1.75 in a research report on Tuesday, August 27th. TD Cowen downgraded Aadi Bioscience from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. 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. Finally, Jefferies Financial Group lowered shares of Aadi Bioscience from a “buy” rating to a “hold” rating and decreased their price objective for the company from $11.00 to $1.50 in a report on Wednesday, August 21st. 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 an average price target of $10.25.

Aadi Bioscience Company Profile

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.