On May 20, 2023, Aadi Bioscience made headlines as it opened at $7.39 on the NASDAQ exchange. Despite fluctuations in its stock price over the past year, the biotech firm is poised to make significant strides in the world of healthcare.
Aadi Bioscience boasts an impressive one-year low of $6.80 and a high of $17.27, with a fifty-day moving average price of $7.62 and a two-hundred day moving average price of $10.74. Although LADENBURG THALM/SH SH decreased their price objective on shares of Aadi Bioscience from $47.00 to $33.00 earlier this month, experts predict continued growth for the company based on its innovative approach.
This growth has been aided by key insiders, including Chairman Neil Desai who recently sold 7,695 shares at an average price of $7.68 per share for a total transaction value of $59,097.60. However, insiders have also sold 49,093 shares worth $374,540 within the last three months which has created some concern about whether or not leaders believe in their own product.
Despite this insider selling pressure, Aadi Biosciences is well-positioned to lead efforts in groundbreaking healthcare solutions. Their focus on oncology treatments and development of highly specialized cancer-fighting drugs could revolutionize how we fight these devastating diseases and open new doors for patients seeking alternative treatment options.
Only time will tell if Aadi Biosciences can maintain its position amidst growing competition from other market players but one thing is certain – investors continue to follow every movement with interest as they anticipate what’s next for this burgeoning company.
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Aadi Bioscience Receives Lowered Q2 2023 EPS Estimate, but Institutional Investors Maintain Faith in Company’s Potential
Aadi Bioscience, Inc. (NASDAQ:AADI) has recently received a lowered Q2 2023 EPS estimate from investment analysts at HC Wainwright who issued a research report to clients and investors on May 17th, 2023. According to analyst R. Burns, the company is now expected to earn ($0.65) per share for the quarter, down from their previous estimate of ($0.64). Despite this reduction in estimated earnings, HC Wainwright maintains their “Buy” rating and $45.00 price objective on Aadi Bioscience’s stock.
The consensus estimate for Aadi Bioscience’s current full-year earnings is ($2.54) per share, with further predictions from HC Wainwright of Q3 2023 earnings at ($0.67) EPS and FY2023 earnings at ($2.57) EPS.
Institutional investors and hedge funds have recently made changes to their positions in the company’s stock. RA Capital Management L.P., for example, has lifted its holdings in shares of Aadi Bioscience by 54.1% in the third quarter alone and now owns over 590,000 shares worth $8,340,000.
Ghost Tree Capital LLC has also increased its holdings by 33.3%, while ExodusPoint Capital Management LP has raised its holdings by a notable 35.2%. Less significant but still noteworthy increases have also been seen by Jump Financial LLC and FMR LLC.
These changes suggest that there remains faith in Aadi Bioscience despite the lower EPS estimates issued by HC Wainwright and that institutional investors believe there is potential for growth and profit in the company’s future endeavors.
It will be interesting to see how Aadi Bioscience performs going forward in light of these developments with its institutional investor base while we all keep an eye on any future announcements or reports regarding the company’s finances.
