Aardvark Therapeutics (NASDAQ:AARD) Stock Gets Price Target Cut from HC Wainwright

Aardvark Therapeutics (NASDAQ:AARD) had its target price decreased by equities researchers at HC Wainwright from $4.00 to $2.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. HC Wainwright‘s price objective would suggest a potential upside of 43.88% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Royal Bank Of Canada set a $2.50 target price on Aardvark Therapeutics in a research note on Friday. Wall Street Zen upgraded Aardvark Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. BTIG Research reissued a “neutral” rating on shares of Aardvark Therapeutics in a report on Monday, October 12th. UBS Group set a $4.00 price objective on shares of Aardvark Therapeutics in a research report on Monday, October 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aardvark Therapeutics in a research note on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.28.

Aardvark Therapeutics Price Performance

Aardvark Therapeutics stock opened at $1.39 on Monday. Aardvark Therapeutics has a one year low of $1.39 and a one year high of $16.60. The business has a fifty day moving average price of $5.26 and a 200-day moving average price of $5.27. The firm has a market capitalization of $30.41 million, a P/E ratio of -0.43 and a beta of 3.80.

Aardvark Therapeutics (NASDAQ:AARD) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.87) by $0.21. Sell-side analysts expect that Aardvark Therapeutics will post -3.05 earnings per share for the current fiscal year.

Insider Activity at Aardvark Therapeutics

In related news, insider Nelson Sun sold 62,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $5.18, for a total transaction of $321,160.00. Following the transaction, the insider directly owned 35,475 shares of the company’s stock, valued at approximately $183,760.50. This trade represents a 63.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 17.80% of the company’s stock.

Institutional Trading of Aardvark Therapeutics

A number of hedge funds have recently bought and sold shares of AARD. BlackRock Inc. purchased a new position in shares of Aardvark Therapeutics in the second quarter worth about $1,077,000. Renaissance Technologies LLC purchased a new stake in Aardvark Therapeutics during the 1st quarter valued at about $267,000. J. Goldman & Co LP purchased a new stake in Aardvark Therapeutics during the 2nd quarter valued at about $233,000. Ieq Capital LLC purchased a new stake in Aardvark Therapeutics during the 2nd quarter valued at about $221,000. Finally, Bank of New York Mellon Corp grew its position in Aardvark Therapeutics by 30.8% during the 1st quarter. Bank of New York Mellon Corp now owns 29,320 shares of the company’s stock worth $111,000 after acquiring an additional 6,905 shares during the last quarter.

Aardvark Therapeutics Company Profile

Aardvark Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing oral therapies for metabolic diseases and other conditions involving appetite regulation. The company’s approach is based on activating bitter taste receptors in the gastrointestinal tract to stimulate the release of gut hormones associated with satiety and metabolic control.

Aardvark’s lead investigational product, ARD-101, is an orally administered, broad-spectrum bitter taste receptor agonist.