Aadi Bioscience (NASDAQ:AADI) Stock Rating Lowered by TD Cowen

Aadi Bioscience (NASDAQ:AADI) was downgraded by research analysts at TD Cowen from a “buy” rating to a “hold” rating in a report issued on Wednesday, MarketBeat Ratings reports.

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

Aadi Bioscience Stock Performance

Shares of AADI opened at $1.55 on Wednesday. The firm has a market cap of $38.06 million, a PE ratio of -0.61 and a beta of 0.69. Aadi Bioscience has a 12 month low of $1.21 and a 12 month high of $7.24. The stock has a fifty day moving average price of $1.51 and a 200-day moving average price of $1.80.

Aadi Bioscience (NASDAQ:AADI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.17. The company had revenue of $6.18 million during the quarter, compared to analysts’ expectations of $6.33 million. Aadi Bioscience had a negative return on equity of 61.83% and a negative net margin of 288.72%. During the same quarter in the previous year, the firm posted ($0.67) EPS. As a group, research analysts forecast that Aadi Bioscience will post -2.54 EPS for the current year.

Insider Buying and Selling at Aadi Bioscience

In other news, Chairman Neil Desai sold 31,348 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1.45, for a total transaction of $45,454.60. Following the sale, the chairman now owns 1,260,195 shares of the company’s stock, valued at approximately $1,827,282.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 52,415 shares of company stock valued at $76,151. 37.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aadi Bioscience

Hedge funds have recently modified their holdings of the company. Decheng Capital LLC purchased a new position in shares of Aadi Bioscience in the 4th quarter valued at about $1,063,000. Marquette Asset Management LLC acquired a new stake in Aadi Bioscience in the first quarter valued at approximately $135,000. Acuitas Investments LLC increased its position in shares of Aadi Bioscience by 10.8% in 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Aadi Bioscience during the 2nd quarter worth approximately $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.