Aardvark Therapeutics (NASDAQ:AARD) Price Target Lowered to $25.00 at Bank of America

Key Points

• Bank of America has lowered its price target for Aardvark Therapeutics from $26.00 to $25.00, while still maintaining a "buy" rating on the stock.
• Aardvark Therapeutics posted a quarterly loss of ($0.66) EPS, missing the consensus estimate of ($0.52).
• The stock has experienced a significant drop, currently trading around $8.75, despite average analysts rating it as a "Buy" with a price target of $32.60.

Aardvark Therapeutics (NASDAQ:AARD - Free Report) had its price target trimmed by Bank of America from $26.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently weighed in on AARD. HC Wainwright assumed coverage on shares of Aardvark Therapeutics in a report on Monday, June 30th. They issued a "buy" rating and a $40.00 target price for the company. Royal Bank Of Canada dropped their target price on shares of Aardvark Therapeutics from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Thursday, August 14th. Finally, Wall Street Zen downgraded shares of Aardvark Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $32.60.

Aardvark Therapeutics Trading Up 6.7%

Aardvark Therapeutics stock traded up $0.56 during mid-day trading on Thursday, hitting $8.86. The stock had a trading volume of 195,014 shares, compared to its average volume of 87,135. The firm's 50 day moving average is $12.00 and its 200 day moving average is $10.89. Aardvark Therapeutics has a one year low of $4.88 and a one year high of $19.58.

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

Institutional Trading of Aardvark Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Aardvark Therapeutics in the 2nd quarter worth about $42,000. Bank of America Corp DE raised its position in Aardvark Therapeutics by 72.9% in the 2nd 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 period. New York State Common Retirement Fund purchased a new stake in Aardvark Therapeutics in the 2nd quarter worth about $99,000. Walleye Capital LLC purchased a new stake in Aardvark Therapeutics in the 1st quarter worth about $88,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Aardvark Therapeutics in the 1st 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.