HC Wainwright Reaffirms Neutral Rating for Aadi Bioscience (NASDAQ:AADI)

HC Wainwright reaffirmed their neutral rating on shares of Aadi Bioscience (NASDAQ:AADI) in a research note released on Wednesday morning, Benzinga reports. HC Wainwright also issued estimates for Aadi Bioscience’s Q3 2024 earnings at ($0.29) EPS, Q4 2024 earnings at ($0.17) EPS, FY2024 earnings at ($1.68) EPS, Q1 2025 earnings at ($0.17) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at ($0.19) EPS and FY2025 earnings at ($0.72) EPS.

Separately, TD Cowen lowered Aadi Bioscience from a buy rating to a hold rating in a research report on Wednesday.

Aadi Bioscience Price Performance

Shares of NASDAQ:AADI opened at $1.58 on Wednesday. Aadi Bioscience has a 1 year low of $1.21 and a 1 year high of $7.24. The stock’s 50-day moving average is $1.51 and its 200 day moving average is $1.80. The company has a market cap of $38.80 million, a PE ratio of -0.62 and a beta of 0.69.

Aadi Bioscience (NASDAQ:AADI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.17. The business had revenue of $6.18 million for the quarter, compared to the consensus estimate of $6.33 million. Aadi Bioscience had a negative net margin of 288.72% and a negative return on equity of 61.83%. During the same period in the previous year, the firm earned ($0.67) EPS. Analysts expect that Aadi Bioscience will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Aadi Bioscience

In other news, Chairman Neil Desai sold 31,348 shares of Aadi Bioscience stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1.45, for a total value of $45,454.60. Following the completion of the transaction, the chairman now owns 1,260,195 shares of the company’s stock, valued at approximately $1,827,282.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 52,415 shares of company stock worth $76,151. 37.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Aadi Bioscience

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Decheng Capital LLC purchased a new position in shares of Aadi Bioscience in the fourth quarter worth $1,063,000. Marquette Asset Management LLC bought a new position in Aadi Bioscience during the 1st quarter valued at about $135,000. Acuitas Investments LLC grew its stake 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 worth $515,000 after acquiring an additional 34,344 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Aadi Bioscience during the second quarter valued at approximately $37,000. 52.08% of the stock is owned by 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.