Aadi Bioscience, Inc. (NASDAQ:AADI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in shares of Aadi Bioscience, Inc. (NASDAQ:AADI) by 19.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 439,222 shares of the company’s stock after selling 104,500 shares during the quarter. Renaissance Technologies LLC owned about 1.79% of Aadi Bioscience worth $641,000 as of its most recent SEC filing.

Separately, Marquette Asset Management LLC acquired a new stake in Aadi Bioscience in the first quarter worth approximately $135,000. Institutional investors own 52.08% of the company’s stock.

Wall Street Analyst Weigh In

AADI has been the subject of several research reports. TD Cowen cut Aadi Bioscience from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. HC Wainwright reaffirmed a “neutral” rating on shares of Aadi Bioscience in a research note on Wednesday, August 21st. Piper Sandler downgraded shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $5.00 to $1.75 in a report on Tuesday, August 27th. Piper Sandler Companies cut shares of Aadi Bioscience from an “overweight” rating to a “neutral” rating and set a $1.75 target price for the company. in a report on Tuesday, August 27th. Finally, Jefferies Financial Group cut Aadi Bioscience from a “buy” rating to a “hold” rating and dropped their price target for the company from $11.00 to $1.50 in a report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.25.

Aadi Bioscience Stock Up 0.5 %

Aadi Bioscience stock opened at $1.95 on Wednesday. The stock has a market cap of $47.88 million, a price-to-earnings ratio of -0.77 and a beta of 0.70. Aadi Bioscience, Inc. has a 12 month low of $1.21 and a 12 month high of $5.70. The business has a 50 day moving average price of $1.70 and a two-hundred day moving average price of $1.76.

Aadi Bioscience (NASDAQ:AADI) last announced 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. Aadi Bioscience had a negative net margin of 274.77% and a negative return on equity of 66.67%. The firm had revenue of $6.18 million during the quarter, compared to analysts’ expectations of $6.33 million. During the same quarter last year, the company earned ($0.67) earnings per share. On average, analysts expect that Aadi Bioscience, Inc. will post -2.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aadi Bioscience news, Chairman Neil Desai sold 40,000 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 1,171,543 shares of the company’s stock, valued at approximately $2,003,338.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 70,756 shares of company stock worth $117,893 in the last quarter. Insiders own 37.30% of the company’s stock.

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.