Aardvark Therapeutics (NASDAQ:AARD) Stock Price Target Lowered at HC Wainwright

Key Points

• HC Wainwright cut Aardvark Therapeutics’ price target from $6.00 to $4.00 while maintaining a “neutral” rating, implying roughly 5.82% upside from the prior close.
• Analyst sentiment is mixed but leans cautious: MarketBeat reports a consensus “Hold” rating and an average price target of $12.88, alongside recent sell, neutral, and sector-perform recommendations.
• AARD opened at $3.78, near its one-year low of $3.35 and well below its one-year high of $16.60. The company remains an unprofitable clinical-stage biotechnology firm developing obesity and metabolic-disease treatments.

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report) had its price target decreased by equities researchers at HC Wainwright from $6.00 to $4.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. HC Wainwright's price target indicates a potential upside of 5.82% from the company's previous close.

A number of other equities research analysts have also recently commented on AARD. Weiss Ratings reiterated a "sell (d-)" rating on shares of Aardvark Therapeutics in a report on Tuesday, September 29th. Wall Street Zen upgraded shares of Aardvark Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. BTIG Research reaffirmed a "neutral" rating on shares of Aardvark Therapeutics in a research report on Monday, October 12th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $6.00 target price on shares of Aardvark Therapeutics in a research note on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $12.88.

Aardvark Therapeutics Price Performance

Shares of Aardvark Therapeutics stock opened at $3.78 on Monday. The stock has a market cap of $82.72 million, a price-to-earnings ratio of -1.18 and a beta of 3.80. The firm's 50-day moving average is $5.60 and its 200 day moving average is $5.30. Aardvark Therapeutics has a 1 year low of $3.35 and a 1 year high of $16.60.

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

Insiders Place Their Bets

In other Aardvark Therapeutics news, insider Nelson Sun sold 62,000 shares of the business's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $5.18, for a total value of $321,160.00. Following the completion of the transaction, the insider owned 35,475 shares of the company's stock, valued at approximately $183,760.50. The trade was a 63.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.80% of the company's stock.

Institutional Trading of Aardvark Therapeutics

A number of large investors have recently made changes to their positions in AARD. Bank of New York Mellon Corp raised its holdings in shares of Aardvark Therapeutics by 30.8% during the first quarter. Bank of New York Mellon Corp now owns 29,320 shares of the company's stock valued at $111,000 after purchasing an additional 6,905 shares during the last quarter. Susquehanna International Group LLP bought a new position in Aardvark Therapeutics during the second quarter valued at approximately $138,000. Ieq Capital LLC purchased a new stake in Aardvark Therapeutics in the second quarter worth approximately $221,000. J. Goldman & Co LP purchased a new stake in Aardvark Therapeutics in the second quarter worth approximately $233,000. Finally, Renaissance Technologies LLC purchased a new stake in Aardvark Therapeutics in the first quarter worth approximately $267,000.

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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