BML Capital Management LLC Invests $4.12 Million in Aadi Bioscience, Inc. (NASDAQ:AADI)

BML Capital Management LLC bought a new position in Aadi Bioscience, Inc. (NASDAQ:AADI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,000,000 shares of the company’s stock, valued at approximately $4,120,000. Aadi Bioscience makes up about 2.4% of BML Capital Management LLC’s portfolio, making the stock its 12th biggest position. BML Capital Management LLC owned 0.08% of Aadi Bioscience as of its most recent SEC filing.

Separately, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Aadi Bioscience in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 52.08% of the company’s stock.

Aadi Bioscience Stock Performance

Shares of AADI stock remained flat at $2.10 during mid-day trading on Tuesday. The stock had a trading volume of 35,274 shares, compared to its average volume of 265,948. Aadi Bioscience, Inc. has a one year low of $1.21 and a one year high of $5.70. The stock’s fifty day simple moving average is $1.96 and its 200-day simple moving average is $1.76. The stock has a market capitalization of $51.77 million, a price-to-earnings ratio of -0.92 and a beta of 0.71.

Aadi Bioscience (NASDAQ:AADI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.46) EPS for the quarter, hitting the consensus estimate of ($0.46). Aadi Bioscience had a negative net margin of 246.06% and a negative return on equity of 71.87%. The firm had revenue of $7.21 million for the quarter, compared to analysts’ expectations of $6.55 million. During the same period in the previous year, the business earned ($0.60) earnings per share. Equities analysts forecast that Aadi Bioscience, Inc. will post -1.98 earnings per share for the current year.

Insiders Place Their Bets

In other Aadi Bioscience news, Chairman Neil Desai sold 40,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.71, for a total value of $68,400.00. Following the sale, the chairman now directly owns 1,171,543 shares in the company, valued at approximately $2,003,338.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AADI has been the subject of several recent research reports. HC Wainwright restated a “neutral” rating on shares of Aadi Bioscience in a research report on Wednesday, August 21st. Jefferies Financial Group lowered shares of Aadi Bioscience from a “buy” rating to a “hold” rating and dropped their price target for the company from $11.00 to $1.50 in a research note on Wednesday, August 21st. Piper Sandler downgraded Aadi Bioscience from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $5.00 to $1.75 in a research report on Tuesday, August 27th. TD Cowen cut Aadi Bioscience from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Piper Sandler Companies lowered Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 price target for the company. in a research report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Aadi Bioscience currently has a consensus rating of “Hold” and an average target price of $10.25.

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.