Aadi Bioscience (NASDAQ:AADI) Announces Earnings Results, Meets Expectations

Aadi Bioscience (NASDAQ:AADI) released its quarterly earnings data on Wednesday. The company reported ($0.46) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.55 million. During the same quarter in the prior year, the firm posted ($0.60) earnings per share.

Aadi Bioscience Trading Down 0.9 %

Shares of Aadi Bioscience stock traded down $0.02 on Thursday, reaching $2.10. 164,419 shares of the stock were exchanged, compared to its average volume of 78,156. The firm has a market capitalization of $51.68 million, a PE ratio of -0.87 and a beta of 0.71. Aadi Bioscience has a 1-year low of $1.21 and a 1-year high of $5.70. The business has a fifty day moving average price of $1.95 and a two-hundred day moving average price of $1.76.

Analyst Upgrades and Downgrades

AADI has been the subject of several research analyst reports. Piper Sandler Companies downgraded Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 price objective for the company. in a report on Tuesday, August 27th. Piper Sandler lowered shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $5.00 to $1.75 in a research note on Tuesday, August 27th. Jefferies Financial Group cut 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 report on Wednesday, August 21st. HC Wainwright reissued a “neutral” rating on shares of Aadi Bioscience in a report on Wednesday, August 21st. Finally, TD Cowen downgraded Aadi Bioscience from a “buy” rating to a “hold” rating 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, 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 related news, Chairman Neil Desai sold 40,000 shares of the company’s stock in a transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.