Aardvark Therapeutics (NASDAQ:AARD) Announces Quarterly Earnings Results

Key Points

• Aardvark Therapeutics reported a quarterly earnings per share of ($0.66), missing estimates by ($0.14).
• The stock recently traded at $11.26 and has seen a price target range from $19.00 to $40.00 according to various analysts.
• Hedge funds have increased their stakes in Aardvark Therapeutics, with notable investments from Goldman Sachs and Geode Capital Management in recent quarters.

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

Aardvark Therapeutics Price Performance

NASDAQ:AARD traded up $0.06 during midday trading on Thursday, reaching $11.26. 38,638 shares of the company traded hands, compared to its average volume of 86,506. Aardvark Therapeutics has a twelve month low of $4.88 and a twelve month high of $19.58. The firm has a fifty day moving average of $12.53.

Analysts Set New Price Targets

A number of analysts recently commented on AARD shares. Royal Bank Of Canada decreased their price objective on Aardvark Therapeutics from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Thursday. HC Wainwright started coverage on Aardvark Therapeutics in a research note on Monday, June 30th. They set a "buy" rating and a $40.00 price objective on the stock. Finally, Wall Street Zen lowered Aardvark Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $32.80.

Institutional Trading of Aardvark Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. bought a new stake in shares of Aardvark Therapeutics in the 1st quarter worth $153,000. Geode Capital Management LLC raised its stake in shares of Aardvark Therapeutics by 129.7% in the 2nd quarter. Geode Capital Management LLC now owns 136,927 shares of the company's stock worth $1,851,000 after buying an additional 77,327 shares in the last quarter. New York State Common Retirement Fund bought a new stake in shares of Aardvark Therapeutics in the 2nd quarter worth $99,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Aardvark Therapeutics in the 2nd quarter worth $42,000.

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.

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