Short Interest in Aadi Bioscience, Inc. (NASDAQ:AADI) Drops By 12.7%

Aadi Bioscience, Inc. (NASDAQ:AADI) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 224,000 shares, a decrease of 12.7% from the November 15th total of 256,500 shares. Based on an average trading volume of 125,300 shares, the short-interest ratio is currently 1.8 days. Currently, 1.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AADI. TD Cowen cut shares of Aadi Bioscience from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Piper Sandler lowered Aadi Bioscience from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $5.00 to $1.75 in a research note on Tuesday, August 27th. Piper Sandler Companies downgraded Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 target price on the stock. in a research note on Tuesday, August 27th. HC Wainwright reiterated a “neutral” rating on shares of Aadi Bioscience in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group downgraded Aadi Bioscience from a “buy” rating to a “hold” rating and decreased their price target 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 MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $1.67.

Aadi Bioscience Stock Performance

Shares of Aadi Bioscience stock opened at $2.38 on Tuesday. The firm has a 50-day simple moving average of $2.18 and a two-hundred day simple moving average of $1.84. Aadi Bioscience has a fifty-two week low of $1.21 and a fifty-two week high of $2.63. The company has a market cap of $58.66 million, a P/E ratio of -1.04 and a beta of 0.73.

Aadi Bioscience (NASDAQ:AADI) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.46) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.46). Aadi Bioscience had a negative return on equity of 71.87% and a negative net margin of 246.06%. The company had revenue of $7.21 million during the quarter, compared to analysts’ expectations of $6.55 million. During the same quarter in the prior year, the firm posted ($0.60) EPS. Equities research analysts forecast that Aadi Bioscience will post -1.78 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AADI. XTX Topco Ltd acquired a new stake in Aadi Bioscience in the 3rd quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Aadi Bioscience in the second quarter valued at about $37,000. Acuitas Investments LLC grew its position in shares of Aadi Bioscience by 10.8% in the second quarter. Acuitas Investments LLC now owns 352,483 shares of the company’s stock valued at $515,000 after purchasing an additional 34,344 shares during the period. Finally, BML Capital Management LLC purchased a new stake in shares of Aadi Bioscience during the third quarter worth about $4,120,000. 52.08% of the stock is owned by institutional investors and hedge funds.

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.