Aadi Bioscience price target lowered by $25 at Piper Sandler, here’s why

Piper Sandler lowered the firm’s price target on Aadi Bioscience to $5 from $30 and keeps an Overweight rating on the shares. Aadi released the first set of interim data from nab-sirolimus’ ongoing and potentially registrational PRECISION-1 study in tumor agnostic TSC1/2 patients, and Piper tells investors in a research note that the signal in TSC2 patients is not a viable one and unlikely to change meaningfully enough over the next couple readouts.