Aardvark Therapeutics (NASDAQ:AARD) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Key Points

• Aardvark Therapeutics beat quarterly EPS expectations, reporting a loss of $0.66 per share versus the analyst consensus loss of $0.87.
• Shares fell 4.9% to $7.19 during Tuesday trading, while the company’s market capitalization stood at approximately $157.3 million.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and a $16.30 average price target, despite several institutional investors increasing their positions.

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.87) by $0.21, Zacks reports.

Aardvark Therapeutics Stock Down 4.9%

NASDAQ:AARD traded down $0.37 during mid-day trading on Tuesday, reaching $7.19. The company's stock had a trading volume of 177,813 shares, compared to its average volume of 256,003. Aardvark Therapeutics has a 1 year low of $3.35 and a 1 year high of $17.94. The stock has a fifty day moving average of $5.42 and a 200-day moving average of $6.67. The firm has a market capitalization of $157.32 million, a PE ratio of -2.24 and a beta of 3.80.

Institutional Investors Weigh In On Aardvark Therapeutics

Several large investors have recently modified their holdings of AARD. Citadel Advisors LLC increased its holdings in shares of Aardvark Therapeutics by 5.9% in the 3rd quarter. Citadel Advisors LLC now owns 1,359,883 shares of the company's stock valued at $18,073,000 after acquiring an additional 76,151 shares during the period. Laurion Capital Management LP lifted its stake in shares of Aardvark Therapeutics by 6.1% during the 3rd quarter. Laurion Capital Management LP now owns 1,049,721 shares of the company's stock worth $13,951,000 after purchasing an additional 60,653 shares during the last quarter. Vanguard Group Inc. boosted its position in Aardvark Therapeutics by 20.6% during the third quarter. Vanguard Group Inc. now owns 555,721 shares of the company's stock valued at $7,386,000 after purchasing an additional 94,744 shares in the last quarter. Millennium Management LLC boosted its position in Aardvark Therapeutics by 51.2% during the fourth quarter. Millennium Management LLC now owns 483,340 shares of the company's stock valued at $6,344,000 after purchasing an additional 163,717 shares in the last quarter. Finally, SymBiosis Capital Partners LLC purchased a new position in Aardvark Therapeutics in the fourth quarter valued at about $6,255,000.

Analysts Set New Price Targets

Several equities analysts have commented on AARD shares. Weiss Ratings raised Aardvark Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, July 2nd. HC Wainwright reiterated a "neutral" rating and set a $6.00 target price on shares of Aardvark Therapeutics in a research report on Monday, July 20th. BTIG Research cut shares of Aardvark Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, May 15th. B. Riley Financial reduced their price target on shares of Aardvark Therapeutics from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, May 15th. Finally, Morgan Stanley reiterated an "underweight" rating and set a $3.00 price objective (down from $7.00) on shares of Aardvark Therapeutics in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.30.

About Aardvark Therapeutics

Aardvark Therapeutics, Inc is a clinical-stage biopharmaceutical company based in Cambridge, Massachusetts, specializing in the discovery and development of small-molecule modulators of the retinoic acid receptor–related orphan receptor gamma (RORγ). RORγ plays a central role in T-helper 17 (Th17) cell differentiation and inflammatory processes. By targeting this transcription factor, Aardvark aims to address a range of autoimmune and immune-mediated diseases.

The company's lead programs consist of selective RORγ inverse agonists designed to suppress pathogenic Th17-driven responses in conditions such as psoriasis, inflammatory bowel disease and other chronic inflammatory disorders.

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