Aardvark Therapeutics (NASDAQ:AARD) CFO Acquires 6,000 Shares

Key Points

• Aardvark Therapeutics CFO Nelson Sun purchased 6,000 shares of the company's stock at an average cost of $8.07 per share, increasing his total ownership to approximately 105,484 shares.
• The company's stock recently traded at $8.00, with a 12-month price range of $4.88 to $19.58.
• Aardvark Therapeutics reported an earnings miss, with an EPS of ($0.66), falling short of the consensus estimate of ($0.52).

Aardvark Therapeutics, Inc. (NASDAQ:AARD - Get Free Report) CFO Nelson Sun purchased 6,000 shares of the business's stock in a transaction on Tuesday, September 9th. The stock was bought at an average cost of $8.07 per share, with a total value of $48,420.00. Following the purchase, the chief financial officer owned 105,484 shares in the company, valued at approximately $851,255.88. This represents a 6.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Aardvark Therapeutics Stock Performance

Shares of Aardvark Therapeutics stock traded up $0.09 on Wednesday, hitting $8.00. 617,170 shares of the company traded hands, compared to its average volume of 104,489. Aardvark Therapeutics, Inc. has a 12-month low of $4.88 and a 12-month high of $19.58. The firm's 50-day simple moving average is $11.19 and its 200 day simple moving average is $10.64.

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

Institutional Investors Weigh In On Aardvark Therapeutics

A number of large investors have recently added to or reduced their stakes in AARD. Decheng Capital LLC bought a new position in shares of Aardvark Therapeutics during the first quarter valued at about $29,419,000. Cormorant Asset Management LP purchased a new position in Aardvark Therapeutics during the 1st quarter valued at about $6,009,000. Braidwell LP bought a new position in Aardvark Therapeutics during the 1st quarter valued at approximately $3,755,000. Adage Capital Partners GP L.L.C. purchased a new stake in Aardvark Therapeutics in the 1st quarter worth approximately $1,878,000. Finally, Geode Capital Management LLC grew its position 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 during the last quarter.

Analyst Upgrades and Downgrades

AARD has been the topic of a number of research reports. Bank of America decreased their price objective on Aardvark Therapeutics from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, August 28th. Royal Bank Of Canada reduced their price target 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. HC Wainwright started coverage on shares of Aardvark Therapeutics in a report on Monday, June 30th. They issued a "buy" rating and a $40.00 price objective for the company. Finally, Wall Street Zen cut shares of Aardvark Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, Aardvark Therapeutics presently has an average rating of "Buy" and an average price target of $32.60.

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.