Aardvark Therapeutics (NASDAQ:AARD) Receives "Sell (E+)" Rating from Weiss Ratings

Key Points

• Aardvark Therapeutics' stock received a reaffirmed "Sell (E+)" rating from Weiss Ratings, indicating potential concerns from analysts regarding the company's performance.
• Despite the sell rating, a majority of analysts have rated the stock as a "Buy," with a consensus price target of $31.43, following various mixed opinions from different institutional investors.
• Insider activity includes significant purchases by CFO and CEO, with total insider acquisitions in the last 90 days amounting to 36,000 shares valued at $305,630, indicating personal confidence in the company’s future.

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also commented on the company. Stifel Nicolaus initiated coverage on Aardvark Therapeutics in a research report on Monday, September 29th. They set a "buy" rating and a $24.00 price target on the stock. 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 report on Thursday, August 14th. Wall Street Zen lowered Aardvark Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Jones Trading assumed coverage on Aardvark Therapeutics in a report on Wednesday, October 1st. They set a "buy" rating and a $33.00 price objective for the company. Finally, HC Wainwright reiterated a "buy" rating and set a $40.00 price objective on shares of Aardvark Therapeutics in a report on Tuesday, September 23rd. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.43.

Aardvark Therapeutics Trading Up 0.6%

Shares of NASDAQ AARD traded up $0.11 during mid-day trading on Wednesday, reaching $17.52. 46,172 shares of the company's stock were exchanged, compared to its average volume of 107,523. The business has a fifty day simple moving average of $11.03 and a 200 day simple moving average of $10.83. Aardvark Therapeutics has a twelve month low of $4.88 and a twelve month high of $19.58.

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

Insider Buying and Selling

In related news, CFO Nelson Sun purchased 6,000 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was purchased at an average cost of $8.07 per share, for a total transaction of $48,420.00. Following the completion of the purchase, the chief financial officer directly owned 105,484 shares in the company, valued at $851,255.88. This trade represents a 6.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tien-Li Lee purchased 10,000 shares of the firm's stock in a transaction on Monday, September 15th. The stock was bought at an average price of $9.66 per share, with a total value of $96,600.00. Following the completion of the purchase, the chief executive officer owned 1,543,384 shares of the company's stock, valued at approximately $14,909,089.44. This represents a 0.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 36,000 shares of company stock valued at $305,630.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AARD. Decheng Capital LLC bought a new position in shares of Aardvark Therapeutics during the 1st quarter worth approximately $29,419,000. Cormorant Asset Management LP acquired a new stake in Aardvark Therapeutics during the 1st quarter worth approximately $6,009,000. Braidwell LP acquired a new stake in Aardvark Therapeutics during the 1st quarter worth approximately $3,755,000. Adage Capital Partners GP L.L.C. acquired a new stake in Aardvark Therapeutics during the 1st quarter worth approximately $1,878,000. Finally, Geode Capital Management LLC lifted its holdings in Aardvark Therapeutics by 129.7% during the 2nd quarter. Geode Capital Management LLC now owns 136,927 shares of the company's stock worth $1,851,000 after purchasing an additional 77,327 shares during the last quarter.

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.

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.