Aardvark Therapeutics (NASDAQ:AARD) Coverage Initiated at Jones Trading

Key Points

• Jones Trading has initiated coverage on Aardvark Therapeutics (NASDAQ:AARD) with a buy rating and a price target of $33.00, suggesting a potential upside of 148.31%.
• The stock currently holds a consensus rating of "Buy" from seven investment analysts, with a consensus price target of $31.43.
• Recent insider transactions include CFO Nelson Sun and CEO Tien-Li Lee purchasing shares, indicating confidence in the company's future performance.

Analysts at Jones Trading began coverage on shares of Aardvark Therapeutics (NASDAQ:AARD - Get Free Report) in a note issued to investors on Wednesday,Benzinga reports. The firm set a "buy" rating and a $33.00 price target on the stock. Jones Trading's target price would suggest a potential upside of 148.31% from the company's previous close.

A number of other equities research analysts have also commented on AARD. HC Wainwright reaffirmed a "buy" rating and set a $40.00 price target on shares of Aardvark Therapeutics in a research report on Tuesday, September 23rd. Wall Street Zen downgraded shares of Aardvark Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Bank of America dropped their price objective on shares of Aardvark Therapeutics from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, August 28th. Stifel Nicolaus began coverage on shares of Aardvark Therapeutics in a report on Monday. They set a "buy" rating and a $24.00 price objective on the stock. Finally, Royal Bank Of Canada dropped their price target on Aardvark Therapeutics from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Thursday, August 14th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $31.43.

Aardvark Therapeutics Stock Performance

Aardvark Therapeutics stock opened at $13.29 on Wednesday. The company's 50-day moving average is $10.80 and its two-hundred day moving average is $10.60. Aardvark Therapeutics has a 1 year low of $4.88 and a 1 year high of $19.58.

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report) last released its 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).

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AARD. Decheng Capital LLC acquired a new position in Aardvark Therapeutics in the 1st quarter valued at about $29,419,000. Cormorant Asset Management LP acquired a new position in shares of Aardvark Therapeutics in the first quarter valued at approximately $6,009,000. Braidwell LP acquired a new position in shares of Aardvark Therapeutics in the first quarter valued at approximately $3,755,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Aardvark Therapeutics in the first quarter valued at approximately $1,878,000. Finally, Geode Capital Management LLC grew its position in shares of Aardvark Therapeutics by 129.7% in the second quarter. Geode Capital Management LLC now owns 136,927 shares of the company's stock valued at $1,851,000 after purchasing an additional 77,327 shares during the last quarter.

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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