Short Interest in Aadi Bioscience, Inc. (NASDAQ:AADI) Decreases By 68.8%

Aadi Bioscience, Inc. (NASDAQ:AADI) was the target of a large decline in short interest in July. As of July 15th, there was short interest totalling 233,200 shares, a decline of 68.8% from the June 30th total of 747,000 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily volume of 217,300 shares, the days-to-cover ratio is presently 1.1 days.

Insiders Place Their Bets

In other Aadi Bioscience news, Chairman Neil Desai sold 31,348 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1.45, for a total value of $45,454.60. Following the sale, the chairman now owns 1,260,195 shares in the company, valued at approximately $1,827,282.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 37.30% of the company’s stock.

Hedge Funds Weigh In On Aadi Bioscience

A hedge fund recently bought a new stake in Aadi Bioscience stock. Decheng Capital LLC purchased a new stake in shares of Aadi Bioscience, Inc. (NASDAQ:AADI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 526,329 shares of the company’s stock, valued at approximately $1,063,000. Aadi Bioscience comprises about 0.3% of Decheng Capital LLC’s investment portfolio, making the stock its 22nd largest holding. Decheng Capital LLC owned about 2.15% of Aadi Bioscience as of its most recent SEC filing. Institutional investors and hedge funds own 52.08% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “neutral” rating on shares of Aadi Bioscience in a report on Tuesday, May 14th.

Aadi Bioscience Stock Performance

NASDAQ:AADI remained flat at $1.57 during mid-day trading on Thursday. 2,826 shares of the company traded hands, compared to its average volume of 298,822. Aadi Bioscience has a one year low of $1.28 and a one year high of $7.24. The stock has a 50 day moving average price of $1.65 and a 200 day moving average price of $1.84.

Aadi Bioscience (NASDAQ:AADI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.02). The firm had revenue of $5.35 million for the quarter, compared to the consensus estimate of $6.41 million. Aadi Bioscience had a negative net margin of 288.72% and a negative return on equity of 61.83%. As a group, equities analysts forecast that Aadi Bioscience will post -2.54 EPS for the current fiscal 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.