Brokers Issue Forecasts for Aadi Bioscience, Inc.’s Q2 2023 Earnings (NASDAQ:AADI)

Posted by on May 20th, 2023

Aadi Bioscience, Inc. (NASDAQ:AADI – Get Rating) – HC Wainwright dropped their Q2 2023 earnings estimates for shares of Aadi Bioscience in a report released on Wednesday, May 17th. HC Wainwright analyst R. Burns now anticipates that the company will post earnings of ($0.65) per share for the quarter, down from their previous estimate of ($0.64). HC Wainwright has a “Buy” rating and a $45.00 price objective on the stock. The consensus estimate for Aadi Bioscience’s current full-year earnings is ($2.54) per share. HC Wainwright also issued estimates for Aadi Bioscience’s Q3 2023 earnings at ($0.67) EPS and FY2023 earnings at ($2.57) EPS.

Separately, LADENBURG THALM/SH SH lowered their target price on Aadi Bioscience from $47.00 to $33.00 in a research note on Thursday, May 11th.

Aadi Bioscience Price Performance

Shares of NASDAQ:AADI opened at $7.66 on Friday. Aadi Bioscience has a 12 month low of $6.80 and a 12 month high of $17.27. The business has a 50-day moving average of $7.62 and a two-hundred day moving average of $10.70. The firm has a market capitalization of $187.21 million, a PE ratio of -2.90 and a beta of 1.20.

Insider Buying and Selling at Aadi Bioscience

In other news, Chairman Neil Desai sold 9,583 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $7.45, for a total transaction of $71,393.35. Following the transaction, the chairman now directly owns 1,905,960 shares in the company, valued at approximately $14,199,402. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 49,093 shares of company stock valued at $374,540. 31.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aadi Bioscience

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its stake in shares of Aadi Bioscience by 8.6% in the first quarter. Renaissance Technologies LLC now owns 139,522 shares of the company’s stock valued at $2,368,000 after buying an additional 11,000 shares during the period. UBS Group AG increased its stake in shares of Aadi Bioscience by 135.3% in the 1st quarter. UBS Group AG now owns 56,684 shares of the company’s stock valued at $961,000 after acquiring an additional 32,590 shares during the last quarter. State Street Corp grew its holdings in shares of Aadi Bioscience by 72.0% in the 1st quarter. State Street Corp now owns 535,578 shares of the company’s stock valued at $9,089,000 after buying an additional 224,178 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Aadi Bioscience during the first quarter worth $1,011,000. Finally, Royal Bank of Canada bought a new position in shares of Aadi Bioscience during the first quarter worth about $49,000. Institutional investors and hedge funds own 67.09% of the company’s stock.

Aadi Bioscience Company Profile

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Aadi Bioscience, Inc operates as a clinical-stage biopharmaceutical company. It develops precision therapies for genetically-defined cancers patients with mTOR pathway driver alterations such as alterations in TSC1 or TSC2 genes. The company was founded by Neil Desai on November 2007 and is headquartered in Los Angeles, CA.

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