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

Aadi Bioscience (NASDAQ:AADI) issued its quarterly earnings data on Wednesday. The company reported ($0.46) EPS for the quarter, hitting analysts’ consensus estimates of ($0.46), Zacks reports. The business had revenue of $7.21 million for the quarter, compared to analyst estimates of $6.55 million. Aadi Bioscience had a negative net margin of 274.77% and a negative return on equity of 66.67%. During the same period last year, the business posted ($0.60) earnings per share.

Aadi Bioscience Trading Down 0.9 %

Shares of NASDAQ AADI traded down $0.02 during trading hours on Thursday, hitting $2.10. The company had a trading volume of 164,419 shares, compared to its average volume of 78,156. Aadi Bioscience has a 1-year low of $1.21 and a 1-year high of $5.70. The firm’s 50 day moving average is $1.95 and its 200-day moving average is $1.76.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Aadi Bioscience news, Chairman Neil Desai sold 40,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1.71, for a total value of $68,400.00. Following the completion of the sale, the chairman now owns 1,171,543 shares in the company, 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 legal filing with the SEC, which is available through this link. 37.30% of the stock is owned by corporate insiders.

Aadi Bioscience Company Profile

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.