Aardvark Therapeutics (NASDAQ:AARD) Stock Keeps "Neutral" Rating at BTIG Research

Key Points

• BTIG Research reaffirmed its “neutral” rating on Aardvark Therapeutics, while the broader analyst consensus remains “Hold” with an average price target of $13.12.
• AARD shares opened at $4.76, well below their 12-month high of $17.06. The company reported a quarterly loss of $0.66 per share, beating the $0.87 consensus loss estimate.
• Insider Nelson Sun sold 62,000 shares, reducing his holdings by 63.61%, while several institutional investors—including BlackRock—recently initiated positions in the company.

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report)'s stock had its "neutral" rating reaffirmed by analysts at BTIG Research in a research note issued on Monday, Benzinga reports.

AARD has been the subject of several other research reports. Wall Street Zen upgraded shares of Aardvark Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. HC Wainwright reiterated a "neutral" rating and set a $6.00 price target on shares of Aardvark Therapeutics in a research note on Monday, July 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Aardvark Therapeutics in a research report on Tuesday, September 29th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $6.00 price target on shares of Aardvark Therapeutics in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Aardvark Therapeutics has an average rating of "Hold" and a consensus target price of $13.12.

Aardvark Therapeutics Stock Performance

Shares of AARD stock opened at $4.76 on Monday. The firm has a fifty day moving average price of $5.94 and a 200 day moving average price of $5.28. The company has a market cap of $104.15 million, a P/E ratio of -1.48 and a beta of 3.80. Aardvark Therapeutics has a 12 month low of $3.35 and a 12 month high of $17.06.

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.21. On average, equities analysts forecast that Aardvark Therapeutics will post -3.17 EPS for the current year.

Insider Buying and Selling

In related news, insider Nelson Sun sold 62,000 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $5.18, for a total transaction of $321,160.00. Following the completion of the sale, the insider owned 35,475 shares in the company, valued at $183,760.50. This represents a 63.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AARD. BlackRock Inc. purchased a new position in shares of Aardvark Therapeutics during the second quarter worth about $1,077,000. Renaissance Technologies LLC acquired a new stake in Aardvark Therapeutics during the 1st quarter worth approximately $267,000. J. Goldman & Co LP purchased a new position in shares of Aardvark Therapeutics in the 2nd quarter valued at approximately $233,000. Ieq Capital LLC purchased a new position in shares of Aardvark Therapeutics in the 2nd quarter valued at approximately $221,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Aardvark Therapeutics in the second quarter valued at approximately $138,000.

About Aardvark Therapeutics

Aardvark Therapeutics, Inc is a clinical-stage biopharmaceutical company based in San Diego, California. The company develops novel therapies for obesity and other metabolic diseases, with a focus on treatments designed to regulate appetite and food intake.

Its lead investigational product, AARD-001, is an orally administered small-molecule candidate intended to activate bitter taste receptors and stimulate signaling pathways in the gastrointestinal tract that may influence appetite and satiety.

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