Aadi Bioscience (NASDAQ:AADI) Shares Down 16.1% – What’s Next?

Aadi Bioscience, Inc. (NASDAQ:AADI)’s share price traded down 16.1% during trading on Monday . The company traded as low as $3.00 and last traded at $3.02. 441,737 shares were traded during mid-day trading, an increase of 8% from the average session volume of 410,748 shares. The stock had previously closed at $3.60.

Aadi Bioscience Price Performance

The firm has a market cap of $74.43 million, a PE ratio of -1.32 and a beta of 0.65. The business has a 50-day simple moving average of $2.61 and a 200 day simple moving average of $2.03.

Aadi Bioscience (NASDAQ:AADI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.46) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.46). The business had revenue of $7.21 million during the quarter, compared to analyst estimates of $6.55 million. Aadi Bioscience had a negative net margin of 246.06% and a negative return on equity of 71.87%. During the same period in the prior year, the business posted ($0.60) earnings per share. On average, equities analysts forecast that Aadi Bioscience, Inc. will post -1.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aadi Bioscience

Several institutional investors have recently bought and sold shares of AADI. XTX Topco Ltd bought a new stake in shares of Aadi Bioscience in the third quarter worth about $32,000. BML Capital Management LLC bought a new position in shares of Aadi Bioscience during the 3rd quarter valued at approximately $4,120,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Aadi Bioscience in the second quarter valued at $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.