Short Interest in Aadi Bioscience, Inc. (NASDAQ:AADI) Expands By 49.4%

Aadi Bioscience, Inc. (NASDAQ:AADI) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 706,400 shares, a growth of 49.4% from the January 15th total of 472,700 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily trading volume, of 357,800 shares, the days-to-cover ratio is currently 2.0 days.

Aadi Bioscience Trading Down 0.8 %

NASDAQ:AADI opened at $2.59 on Friday. Aadi Bioscience has a 1-year low of $1.21 and a 1-year high of $3.81. The firm has a fifty day simple moving average of $2.91 and a 200 day simple moving average of $2.25. The stock has a market capitalization of $63.97 million, a PE ratio of -1.14 and a beta of 0.64.

Hedge Funds Weigh In On Aadi Bioscience

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp boosted its position in Aadi Bioscience by 33.1% during the fourth quarter. Northern Trust Corp now owns 91,151 shares of the company’s stock worth $288,000 after purchasing an additional 22,677 shares during the period. QVT Financial LP bought a new position in Aadi Bioscience during the fourth quarter worth $7,300,000. Geode Capital Management LLC boosted its position in Aadi Bioscience by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 217,294 shares of the company’s stock worth $686,000 after purchasing an additional 8,546 shares during the period. BML Capital Management LLC boosted its position in Aadi Bioscience by 5.0% during the fourth quarter. BML Capital Management LLC now owns 2,100,000 shares of the company’s stock worth $6,626,000 after purchasing an additional 100,000 shares during the period. Finally, Peapod Lane Capital LLC bought a new position in Aadi Bioscience during the fourth quarter worth $1,397,000. 52.08% of the stock is owned by 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.