Aadi Bioscience, Inc. (NASDAQ:AADI – Get Rating) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totalling 1,040,000 shares, a drop of 11.9% from the December 31st total of 1,180,000 shares. Based on an average trading volume of 88,800 shares, the days-to-cover ratio is currently 11.7 days. Approximately 6.1% of the company's stock are short sold.

Aadi Bioscience Stock Down 2.0 %

AADI stock opened at $12.55 on Tuesday. The business's 50-day moving average price is $12.84 and its 200-day moving average price is $13.03. Aadi Bioscience has a twelve month low of $11.00 and a twelve month high of $21.15. The stock has a market cap of $306.22 million, a P/E ratio of -4.21 and a beta of 1.26.

Aadi Bioscience (NASDAQ:AADI – Get Rating) last released its quarterly earnings data on Wednesday, November 9th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.75) by $0.07. Aadi Bioscience had a negative return on equity of 44.28% and a negative net margin of 569.57%. The business had revenue of $4.25 million for the quarter, compared to the consensus estimate of $3.60 million. On average, equities research analysts expect that Aadi Bioscience will post -2.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Hedge Funds Weigh In On Aadi Bioscience

Large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. lifted its stake in shares of Aadi Bioscience by 156.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 542,044 shares of the company's stock worth $6,678,000 after purchasing an additional 330,513 shares during the last quarter. State Street Corp raised its stake in Aadi Bioscience by 72.0% in the first quarter. State Street Corp now owns 535,578 shares of the company's stock valued at $9,089,000 after buying an additional 224,178 shares during the last quarter. RA Capital Management L.P. raised its stake in Aadi Bioscience by 54.1% in the third quarter. RA Capital Management L.P. now owns 590,218 shares of the company's stock valued at $8,340,000 after buying an additional 207,190 shares during the last quarter. Ikarian Capital LLC raised its stake in Aadi Bioscience by 97.9% in the second quarter. Ikarian Capital LLC now owns 412,343 shares of the company's stock valued at $1,274,000 after buying an additional 203,975 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Aadi Bioscience by 270.2% in the second quarter. Northern Trust Corp now owns 134,224 shares of the company's stock valued at $1,654,000 after buying an additional 97,966 shares during the last quarter. Institutional investors own 67.09% of the company's stock.

About Aadi Bioscience

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Aadi Bioscience, Inc operates as a clinical-stage biopharmaceutical company. It develops precision therapies for genetically-defined cancers patients with mTOR pathway driver alterations such as alterations in TSC1 or TSC2 genes. The company was founded by Neil Desai on November 2007 and is headquartered in Los Angeles, CA.

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