Aardvark Therapeutics, Inc. (NASDAQ:AARD) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Aardvark Therapeutics, Inc. has received an average rating of "Moderate Buy" from eight analysts, with a consensus 12-month price target of $31.43.
• The company's CEO recently purchased 10,000 shares at an average price of $9.66 per share, indicating insider confidence in the stock.
• Aardvark Therapeutics reported a quarterly earnings miss, with an EPS of ($0.66), falling short of analysts' expectations of ($0.52).

Aardvark Therapeutics, Inc. (NASDAQ:AARD - Get Free Report) has earned an average rating of "Moderate Buy" from the eight analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.4286.

Several analysts recently weighed in on AARD shares. Royal Bank Of Canada decreased their target price on Aardvark Therapeutics from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Thursday, August 14th. Wall Street Zen cut Aardvark Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Bank of America reduced their price target on shares of Aardvark Therapeutics from $26.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, August 28th. Stifel Nicolaus started coverage on shares of Aardvark Therapeutics in a research note on Monday, September 29th. They issued a "buy" rating and a $24.00 target price for the company. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Aardvark Therapeutics in a research note on Saturday, September 27th.

Aardvark Therapeutics Stock Performance

AARD stock opened at $17.41 on Wednesday. Aardvark Therapeutics has a 52-week low of $4.88 and a 52-week high of $19.58. The company has a 50-day moving average of $11.03 and a two-hundred day moving average of $10.83.

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.52) by ($0.14).

Insider Buying and Selling

In other news, CEO Tien-Li Lee bought 10,000 shares of Aardvark Therapeutics stock in a transaction that occurred on Monday, September 15th. The stock was purchased at an average cost of $9.66 per share, with a total value of $96,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,543,384 shares in the company, valued at $14,909,089.44. This trade represents a 0.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nelson Sun acquired 6,000 shares of Aardvark Therapeutics stock in a transaction dated Tuesday, September 9th. The shares were acquired at an average cost of $8.07 per share, with a total value of $48,420.00. Following the completion of the acquisition, the chief financial officer directly owned 105,484 shares in the company, valued at $851,255.88. This trade represents a 6.03% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 36,000 shares of company stock valued at $305,630 in the last quarter.

Hedge Funds Weigh In On Aardvark Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. acquired a new stake in Aardvark Therapeutics during the first quarter valued at approximately $153,000. Adage Capital Partners GP L.L.C. acquired a new stake in Aardvark Therapeutics during the first quarter valued at approximately $1,878,000. Cormorant Asset Management LP bought a new position in shares of Aardvark Therapeutics during the 1st quarter worth approximately $6,009,000. Walleye Capital LLC bought a new position in shares of Aardvark Therapeutics during the 1st quarter worth approximately $88,000. Finally, Braidwell LP bought a new position in shares of Aardvark Therapeutics during the 1st quarter worth approximately $3,755,000.

About Aardvark Therapeutics

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.

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