Short Interest in Aadi Bioscience, Inc. (NASDAQ:AADI) Declines By 16.5%

Aadi Bioscience, Inc. (NASDAQ:AADI) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 943,100 shares, a decrease of 16.5% from the March 15th total of 1,130,000 shares. Currently, 5.4% of the company’s stock are sold short. Based on an average daily volume of 386,100 shares, the short-interest ratio is presently 2.4 days.

Insider Activity at Aadi Bioscience

In other Aadi Bioscience news, Chairman Neil Desai sold 42,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $1.74, for a total value of $73,080.00. Following the sale, the chairman now owns 1,453,543 shares in the company, valued at $2,529,164.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 101,772 shares of company stock valued at $198,819. Insiders own 35.80% of the company’s stock.

Hedge Funds Weigh In On Aadi Bioscience

A number of hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new stake in shares of Aadi Bioscience in the 2nd quarter valued at $34,000. Royal Bank of Canada acquired a new stake in shares of Aadi Bioscience in the 1st quarter valued at $49,000. Barclays PLC boosted its holdings in shares of Aadi Bioscience by 533.2% in the 4th quarter. Barclays PLC now owns 3,888 shares of the company’s stock valued at $50,000 after purchasing an additional 3,274 shares in the last quarter. FMR LLC boosted its holdings in shares of Aadi Bioscience by 1,416.2% in the 1st quarter. FMR LLC now owns 4,124 shares of the company’s stock valued at $30,000 after purchasing an additional 3,852 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Aadi Bioscience by 483,600.0% in the 2nd quarter. Citigroup Inc. now owns 4,837 shares of the company’s stock valued at $33,000 after purchasing an additional 4,836 shares in the last quarter. Institutional investors own 52.08% of the company’s stock.

Aadi Bioscience Trading Down 1.5 %

Shares of NASDAQ AADI opened at $1.96 on Friday. The firm has a market cap of $48.13 million, a P/E ratio of -0.80 and a beta of 0.62. Aadi Bioscience has a 1-year low of $1.55 and a 1-year high of $8.65. The business’s 50 day moving average is $2.05 and its 200-day moving average is $3.03.

Aadi Bioscience (NASDAQ:AADI) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.07. Aadi Bioscience had a negative return on equity of 52.53% and a negative net margin of 270.04%. The firm had revenue of $6.33 million for the quarter, compared to analyst estimates of $6.46 million. Analysts forecast that Aadi Bioscience will post -2.47 EPS for the current year.

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.