Aardvark Therapeutics, Inc. (NASDAQ:AARD) Short Interest Update

Key Points

• Aardvark Therapeutics saw a significant decline in short interest of 39.3% in September, with total short interest dropping to 404,400 shares.
• Wall Street analysts have mostly rated Aardvark Therapeutics positively, with seven analysts giving a "buy" rating and a consensus target price of $31.43.
• The company's CEO recently purchased 10,000 shares of stock, indicating confidence in the company's growth potential amid recent insider buying activity.

Aardvark Therapeutics, Inc. (NASDAQ:AARD - Get Free Report) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 404,400 shares, a decline of 39.3% from the August 31st total of 665,800 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average daily volume of 120,200 shares, the short-interest ratio is presently 3.4 days. Based on an average daily volume of 120,200 shares, the short-interest ratio is presently 3.4 days. Currently, 3.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Jones Trading began coverage on Aardvark Therapeutics in a report on Wednesday. They set a "buy" rating and a $33.00 target price on the stock. Bank of America cut their price objective on shares of Aardvark Therapeutics from $26.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday, August 28th. Stifel Nicolaus assumed coverage on shares of Aardvark Therapeutics in a research note on Monday, September 29th. They set a "buy" rating and a $24.00 price objective on the stock. Royal Bank Of Canada dropped their target price on shares of Aardvark Therapeutics from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Thursday, August 14th. Finally, Wall Street Zen lowered shares of Aardvark Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.43.

Aardvark Therapeutics Stock Up 4.6%

AARD stock opened at $16.08 on Friday. The company has a fifty day moving average price of $10.87 and a 200-day moving average price of $10.73. Aardvark Therapeutics has a 52-week low of $4.88 and a 52-week high of $19.58.

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

Insider Buying and Selling

In other Aardvark Therapeutics news, CEO Tien-Li Lee bought 10,000 shares of the firm's stock in a transaction on Monday, September 15th. The shares were purchased at an average price of $9.66 per share, for a total transaction of $96,600.00. Following the transaction, the chief executive officer directly owned 1,543,384 shares in the company, valued at approximately $14,909,089.44. This trade represents a 0.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nelson Sun bought 6,000 shares of the stock in a transaction dated Tuesday, September 9th. The shares were acquired at an average cost of $8.07 per share, for a total transaction of $48,420.00. Following the completion of the acquisition, the chief financial officer directly owned 105,484 shares of the company's stock, valued at approximately $851,255.88. This trade represents a 6.03% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 36,000 shares of company stock worth $305,630.

Hedge Funds Weigh In On Aardvark Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Aardvark Therapeutics in the second quarter worth approximately $42,000. Walleye Capital LLC bought a new position in Aardvark Therapeutics during the 1st quarter worth approximately $88,000. New York State Common Retirement Fund acquired a new position in shares of Aardvark Therapeutics in the 2nd quarter worth approximately $99,000. Bank of America Corp DE boosted its stake in shares of Aardvark Therapeutics by 72.9% in the 2nd quarter. Bank of America Corp DE now owns 7,989 shares of the company's stock valued at $108,000 after purchasing an additional 3,369 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Aardvark Therapeutics in the 1st quarter valued at $153,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.