Aardvark Therapeutics (NASDAQ:AARD) Now Covered by BTIG Research

BTIG Research initiated coverage on shares of Aardvark Therapeutics (NASDAQ:AARD) in a report published on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $26.00 price target on the stock.

AARD has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aardvark Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Aardvark Therapeutics in a report on Tuesday, September 23rd. Jones Trading started coverage on Aardvark Therapeutics in a report on Wednesday, October 1st. They set a “buy” rating and a $33.00 price target for the company. Stifel Nicolaus began coverage on shares of Aardvark Therapeutics in a research report on Monday, September 29th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Royal Bank Of Canada dropped their price objective on shares of Aardvark Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, August 14th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

Aardvark Therapeutics Price Performance

Shares of NASDAQ:AARD traded up $0.27 during trading on Friday, hitting $10.14. 140,428 shares of the company were exchanged, compared to its average volume of 183,383. The firm’s 50 day moving average price is $11.76 and its 200-day moving average price is $11.53. Aardvark Therapeutics has a 12-month low of $4.88 and a 12-month high of $19.58. The stock has a market capitalization of $220.01 million and a P/E ratio of -7.40.

Aardvark Therapeutics (NASDAQ:AARD) last posted its earnings results on Wednesday, August 13th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.14).

Insider Activity

In related news, CEO Tien-Li Lee bought 10,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was bought at an average cost of $9.66 per share, with a total value of $96,600.00. Following the completion of the acquisition, the chief executive officer owned 1,543,384 shares in the company, valued at approximately $14,909,089.44. This represents a 0.65% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Nelson Sun purchased 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were purchased at an average cost of $8.07 per share, for a total transaction of $48,420.00. Following the purchase, the chief financial officer directly owned 105,484 shares in the company, valued at approximately $851,255.88. This represents a 6.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 36,000 shares of company stock valued at $305,630 in the last quarter.

Hedge Funds Weigh In On Aardvark Therapeutics

Several hedge funds have recently bought and sold shares of the company. Decheng Capital LLC purchased a new stake in Aardvark Therapeutics during the first quarter worth $29,419,000. Cormorant Asset Management LP acquired a new position in shares of Aardvark Therapeutics during the 1st quarter worth $6,009,000. Braidwell LP purchased a new stake in shares of Aardvark Therapeutics in the 1st quarter worth about $3,755,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Aardvark Therapeutics in the 1st quarter worth about $1,878,000. Finally, Vanguard Group Inc. grew its stake in Aardvark Therapeutics by 20.6% in the 3rd quarter. Vanguard Group Inc. now owns 555,721 shares of the company’s stock valued at $7,386,000 after acquiring an additional 94,744 shares during the last quarter.

Aardvark Therapeutics Company Profile

Aardvark Therapeutics, Inc operates as a biotechnology company. It engages in the development of a novel small molecule therapeutics for obesity and metabolic diseases. The company was founded by Tien Lee in 2017 and is headquartered in San Diego, CA.