Avoro Capital Advisor LLC recently announced the acquisition of new stake in Aadi Bioscience Inc. (NASDAQ:AADI). The institutional investor has increased its shareholding in the Healthcare company by 55.76% to 2.85 million shares with purchase of 1.02 million shares. This fresh investment now brings its stake to 11.68% valued currently at $36.56 million. In addition, Acuta Capital Partners LLC raised its holdings by 0.32 million to 1.85 million shares.
With over 0.17 million Aadi Bioscience Inc. (AADI) shares trading Tuesday and a closing price of $12.98 on the day, the dollar volume was approximately $2.14 million. The shares have shown a positive half year performance of 1.01% and its price on 01/24/23 gained nearly 1.17%. Currently, there are 21.27M common shares owned by the public and among those 20.64M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for AADI have a consensus price objective of $40.67. The analysts have set the share’s price value over the next 12 months at a high of $47.00 and a low of $30.00. The average price target is 69.46% above its recent price level and an upside to the estimated low will see the stock gain 56.73% over that period. But an upside of 72.38% will see the stock hit the forecast high price target while median target price for the stock is $45.00.
The top 3 mutual fund holders in Aadi Bioscience Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and FCP Medical – BioHealth. Vanguard Total Stock Market Index owns 0.45 million shares of the company’s stock, all valued at over $5.72 million. iShares Russell 2000 ETF sold 3477.0 shares to see its total holdings shrink to 0.33 million shares valued at over $4.25 million and representing 1.36% of the shares outstanding. FCP Medical – BioHealth now owns shares totaling to 1.10% of the shares outstanding.
Shares of Aadi Bioscience Inc. (NASDAQ: AADI) opened at $12.81, down -$0.02 from a prior closing price of $12.83. However, the script later moved the day high at 13.09, up 1.17%. The company’s stock has a 5-day price change of 0.15% and 1.41% over the past three months. AADI shares are trading 1.17% year to date (YTD), with the 12-month market performance down to -31.68% lower. It has a 12-month low price of $11.00 and touched a high of $21.15 over the same period. AADI has an average intraday trading volume of 87.90K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.37%, 0.43%, and -4.15% respectively.
Institutional ownership of Aadi Bioscience Inc. (NASDAQ: AADI) shares accounts for 63.00% of the company’s 21.27M shares outstanding. Mutual fund holders own 43.81%, while other institutional holders and individual stakeholders account for 9.59% and 29.43% respectively.
It has a market capitalization of $310.87M and a beta (3y monthly) value of 1.25. The earnings-per-share (ttm) stands at -$2.98. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.72% over the week and 3.96% over the month.
Analysts forecast that Aadi Bioscience Inc. (AADI) will achieve an EPS of -$0.74 for the current quarter, -$0.75 for the next quarter and -$2.78 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.78 while analysts give the company a high EPS estimate of -$0.7. Comparatively, EPS for the current quarter was -$9.17 a year ago. Earnings per share for the fiscal year are expected to decrease by -712.40%, and 12.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Aadi Bioscience Inc. (AADI) as a “Strong Buy” at a consensus score of 1.60. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AADI, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on January 11, 2022, with the firm’s price target at $45. Ladenburg Thalmann was of a view on September 14, 2021 that the stock is Buy, while Piper Sandler gave the stock Overweight rating on September 08, 2021, issuing a price target of $45.
