Aardvark Therapeutics, Inc. (NASDAQ:AARD) Receives $32.60 Consensus Price Target from Brokerages

Key Points

• Aardvark Therapeutics, Inc. (NASDAQ:AARD) has received a consensus recommendation of "Buy" from five analysts, with an average 12-month price target of $32.60.
• The stock is currently trading at $8.59, down from a 1-year high of $19.58 and with a significant earnings miss reported at ($0.66) per share.
• Recent insider activity includes CEO Tien-Li Lee and CFO Nelson Sun purchasing shares, indicating confidence in the company's future performance.

Shares of Aardvark Therapeutics, Inc. (NASDAQ:AARD - Get Free Report) have received an average recommendation of "Buy" from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $32.60.

A number of research analysts recently issued reports on AARD shares. Bank of America cut their price objective on Aardvark Therapeutics from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, August 28th. Wall Street Zen lowered shares of Aardvark Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. HC Wainwright initiated coverage on shares of Aardvark Therapeutics in a research note on Monday, June 30th. They issued a "buy" rating and a $40.00 price objective for the company. Finally, Royal Bank Of Canada lowered their target price 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.

Insider Transactions at Aardvark Therapeutics

In other Aardvark Therapeutics news, CEO Tien-Li Lee acquired 10,000 shares of the stock in a transaction on Monday, September 15th. The stock was acquired at an average price of $9.66 per share, for a total transaction of $96,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,543,384 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Nelson Sun bought 6,000 shares of the firm's stock in a transaction dated Tuesday, September 9th. The shares were acquired at an average price of $8.07 per share, for a total transaction of $48,420.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Insiders purchased 36,000 shares of company stock worth $305,630 over the last quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AARD. Decheng Capital LLC purchased a new position in shares of Aardvark Therapeutics during the 1st quarter worth about $29,419,000. Cormorant Asset Management LP bought a new position in shares of Aardvark Therapeutics during the first quarter valued at approximately $6,009,000. Braidwell LP purchased a new stake in shares of Aardvark Therapeutics in the first quarter worth approximately $3,755,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Aardvark Therapeutics during the 1st quarter worth approximately $1,878,000. Finally, Geode Capital Management LLC lifted its stake in shares of Aardvark Therapeutics by 129.7% during the 2nd quarter. Geode Capital Management LLC now owns 136,927 shares of the company's stock worth $1,851,000 after acquiring an additional 77,327 shares during the last quarter.

Aardvark Therapeutics Price Performance

NASDAQ AARD traded up $0.60 during mid-day trading on Friday, reaching $11.57. The stock had a trading volume of 76,338 shares, compared to its average volume of 101,822. Aardvark Therapeutics has a 1 year low of $4.88 and a 1 year high of $19.58. The company has a fifty day moving average price of $10.79 and a 200 day moving average price of $10.51.

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).

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.