Insider Buying: Aardvark Therapeutics (NASDAQ:AARD) CEO Acquires 10,000 Shares of Stock

Key Points

• Aardvark Therapeutics CEO Tien-Li Lee purchased 10,000 shares of the company's stock for a total of $96,600, increasing his ownership to 1,543,384 shares.
• The company's stock recently opened at $9.95 and has seen a 52-week low of $4.88 and a high of $19.58.
• Aardvark Therapeutics reported a quarterly earnings loss of ($0.66) EPS, missing the consensus estimate of ($0.52).

Aardvark Therapeutics, Inc. (NASDAQ:AARD - Get Free Report) CEO Tien-Li Lee purchased 10,000 shares of Aardvark Therapeutics stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 1,543,384 shares of the company's stock, valued at $14,909,089.44. The trade was a 0.65% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Tien-Li Lee also recently made the following trade(s):

• On Friday, September 12th, Tien-Li Lee purchased 5,000 shares of Aardvark Therapeutics stock. The stock was acquired at an average price of $8.50 per share, for a total transaction of $42,500.00.
• On Thursday, September 11th, Tien-Li Lee purchased 6,000 shares of Aardvark Therapeutics stock. The stock was acquired at an average price of $7.82 per share, for a total transaction of $46,920.00.
• On Wednesday, September 10th, Tien-Li Lee purchased 9,000 shares of Aardvark Therapeutics stock. The stock was acquired at an average price of $7.91 per share, for a total transaction of $71,190.00.

Aardvark Therapeutics Trading Down 3.5%

AARD traded down $0.40 during trading hours on Friday, hitting $10.89. The company's stock had a trading volume of 407,861 shares, compared to its average volume of 207,534. The business's 50-day moving average price is $10.74 and its 200-day moving average price is $10.49. Aardvark Therapeutics, Inc. has a 12 month low of $4.88 and a 12 month high of $19.58.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. HC Wainwright assumed coverage on shares of Aardvark Therapeutics in a research report on Monday, June 30th. They set a "buy" rating and a $40.00 price objective on the stock. Royal Bank Of Canada cut their price objective on shares of Aardvark Therapeutics from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Thursday, August 14th. Wall Street Zen cut shares of Aardvark Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Bank of America cut their price objective on shares of Aardvark Therapeutics from $26.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, August 28th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $32.60.

Institutional Inflows and Outflows

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

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.