Aardvark Therapeutics, Inc.'s (NASDAQ:AARD) Lock-Up Period Set To Expire on August 12th

Key Points

• Aardvark Therapeutics' (NASDAQ:AARD) lock-up period is set to expire on August 12th, allowing insiders to sell their shares after the company issued 5,888,000 shares in its IPO.
• Wall Street analysts have given mixed ratings, with one downgrade to "sell" and others maintaining a "buy" rating, resulting in a consensus rating of "Moderate Buy" and a price target of $33.00.
• The company's shares opened at $12.50, with a notable earnings miss reported during their last quarterly results, posting an EPS of ($0.71) compared to the expected ($0.70).

Aardvark Therapeutics' (NASDAQ:AARD - Get Free Report) lock-up period will expire on Tuesday, August 12th. Aardvark Therapeutics had issued 5,888,000 shares in its initial public offering on February 13th. The total size of the offering was $94,208,000 based on an initial share price of $16.00. After the end of Aardvark Therapeutics' lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

AARD has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Aardvark Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Royal Bank Of Canada lowered their price objective on Aardvark Therapeutics from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. Finally, HC Wainwright began coverage on Aardvark Therapeutics in a research report on Monday, June 30th. They set a "buy" rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Aardvark Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Aardvark Therapeutics Price Performance

Shares of AARD opened at $12.50 on Tuesday. The company has a 50 day simple moving average of $12.41. 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 announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.01).

Hedge Funds Weigh In On Aardvark Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Walleye Capital LLC acquired a new stake in shares of Aardvark Therapeutics in the first quarter valued at approximately $88,000. Goldman Sachs Group Inc. acquired a new stake in shares of Aardvark Therapeutics in the first quarter valued at approximately $153,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Aardvark Therapeutics in the first quarter valued at approximately $1,878,000. Braidwell LP acquired a new stake in shares of Aardvark Therapeutics in the first quarter valued at approximately $3,755,000. Finally, Cormorant Asset Management LP acquired a new stake in shares of Aardvark Therapeutics in the first quarter valued at approximately $6,009,000.

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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