Aadi Bioscience, Inc. (NASDAQ:AADI) Chairman Neil Desai Sells 40,000 Shares

Aadi Bioscience, Inc. (NASDAQ:AADI) Chairman Neil Desai sold 40,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.71, for a total transaction of $68,400.00. Following the completion of the transaction, the chairman now directly owns 1,171,543 shares in the company, valued at approximately $2,003,338.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Neil Desai also recently made the following trade(s):

• On Monday, August 5th, Neil Desai sold 5,652 shares of Aadi Bioscience stock. The stock was sold at an average price of $1.34, for a total transaction of $7,573.68.
• On Thursday, August 1st, Neil Desai sold 15,415 shares of Aadi Bioscience stock. The stock was sold at an average price of $1.50, for a total transaction of $23,122.50.
• On Monday, July 1st, Neil Desai sold 31,348 shares of Aadi Bioscience stock. The stock was sold at an average price of $1.45, for a total transaction of $45,454.60.

Aadi Bioscience Stock Performance

Shares of AADI remained flat at $1.80 during trading hours on Thursday. 214,520 shares of the stock were exchanged, compared to its average volume of 306,795. The stock has a market capitalization of $44.20 million, a price-to-earnings ratio of -0.71 and a beta of 0.69. Aadi Bioscience, Inc. has a 1 year low of $1.21 and a 1 year high of $6.29. The stock has a 50-day moving average of $1.52 and a two-hundred day moving average of $1.79.

Aadi Bioscience (NASDAQ:AADI) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.17. Aadi Bioscience had a negative net margin of 274.77% and a negative return on equity of 66.67%. The company had revenue of $6.18 million during the quarter, compared to analyst estimates of $6.33 million. During the same period in the prior year, the firm earned ($0.67) earnings per share. On average, equities analysts expect that Aadi Bioscience, Inc. will post -2.02 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler Companies cut shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 price target on the stock. in a research report on Tuesday, August 27th. Piper Sandler cut shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $5.00 to $1.75 in a research report on Tuesday, August 27th. HC Wainwright reiterated a “neutral” rating on shares of Aadi Bioscience in a research report on Wednesday, August 21st. TD Cowen cut shares of Aadi Bioscience from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group cut shares of Aadi Bioscience from a “buy” rating to a “hold” rating and cut their price objective for the company from $11.00 to $1.50 in a research report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.25.

Institutional Trading of Aadi Bioscience

Hedge funds have recently added to or reduced their stakes in the business. Decheng Capital LLC purchased a new stake in shares of Aadi Bioscience during the fourth quarter valued at about $1,063,000. Acuitas Investments LLC lifted its position in shares of Aadi Bioscience by 10.8% during the second quarter. Acuitas Investments LLC now owns 352,483 shares of the company’s stock valued at $515,000 after buying an additional 34,344 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in shares of Aadi Bioscience during the first quarter valued at about $135,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Aadi Bioscience during the second quarter valued at about $37,000. 52.08% of the stock is owned by hedge funds and other institutional investors.

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.