Aardvark Therapeutics (NASDAQ:AARD) Announces Earnings Results, Misses Estimates By $0.19 EPS

Aardvark Therapeutics (NASDAQ:AARD) issued its quarterly earnings results on Friday. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.19), FiscalAI reports.

Aardvark Therapeutics Trading Down 12.5%

NASDAQ AARD traded down $0.19 on Friday, reaching $1.33. 402,306 shares of the company were exchanged, compared to its average volume of 362,476. The business’s fifty day moving average price is $3.85 and its 200 day moving average price is $5.79. The stock has a market capitalization of $29.10 million, a P/E ratio of -0.41 and a beta of 4.38. Aardvark Therapeutics has a fifty-two week low of $0.93 and a fifty-two week high of $16.60.

Insider Transactions at Aardvark Therapeutics

In other Aardvark Therapeutics news, insider Nelson Sun sold 62,000 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $5.18, for a total value of $321,160.00. Following the completion of the sale, the insider directly owned 35,475 shares of the company’s stock, valued at $183,760.50. This trade represents a 63.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of Aardvark Therapeutics by 30.8% in the first quarter. Bank of New York Mellon Corp now owns 29,320 shares of the company’s stock valued at $111,000 after purchasing an additional 6,905 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of Aardvark Therapeutics in the second quarter valued at about $138,000. Ieq Capital LLC acquired a new stake in Aardvark Therapeutics during the second quarter worth about $221,000. J. Goldman & Co LP acquired a new stake in Aardvark Therapeutics during the second quarter worth about $233,000. Finally, Renaissance Technologies LLC acquired a new stake in Aardvark Therapeutics during the first quarter worth about $267,000.

Wall Street Analysts Forecast Growth

AARD has been the subject of a number of research analyst reports. Wall Street Zen raised Aardvark Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. UBS Group set a $4.00 target price on Aardvark Therapeutics in a research report on Monday, October 19th. Raymond James Financial reaffirmed a “market perform” rating on shares of Aardvark Therapeutics in a research note on Friday. Oppenheimer cut Aardvark Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, October 26th. Finally, HC Wainwright dropped their price target on Aardvark Therapeutics from $4.00 to $2.00 and set a “hold” rating for the company in a research report on Monday, October 26th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.56.

Aardvark Therapeutics Company Profile

Aardvark Therapeutics is a clinical-stage biopharmaceutical company based in San Diego, California. It develops oral medicines for metabolic disorders, with a focus on conditions involving excessive hunger and disrupted energy balance. The company’s lead candidate, ARD-101, is an investigational oral therapy designed to activate bitter taste receptors in the gut and influence gut-brain signaling. Aardvark has studied the candidate for hyperphagia, or excessive hunger, associated with Prader-Willi syndrome and hypothalamic obesity.