Aadi Bioscience (NASDAQ:AADI) Announces Quarterly Earnings Results

Aadi Bioscience (NASDAQ:AADI) announced its quarterly earnings data on Wednesday. The company reported ($0.46) EPS for the quarter, meeting analysts’ consensus estimates of ($0.46), Zacks reports. The firm had revenue of $7.21 million for the quarter, compared to analyst estimates 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 period last year, the company earned ($0.60) EPS.

Aadi Bioscience Stock Down 0.9 %

Aadi Bioscience stock traded down $0.02 during midday trading on Thursday, hitting $2.10. 164,419 shares of the stock were exchanged, compared to its average volume of 78,156. The company has a fifty day simple moving average of $1.95 and a two-hundred day simple moving average of $1.76. Aadi Bioscience has a 52 week low of $1.21 and a 52 week high of $5.70.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Aadi Bioscience

In other news, Chairman Neil Desai sold 40,000 shares of Aadi Bioscience stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1.71, for a total transaction of $68,400.00. Following the transaction, the chairman now directly 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 SEC, which is available through this hyperlink. 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.