250,000 Shares in Aardvark Therapeutics, Inc. $AARD Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. purchased a new stake in Aardvark Therapeutics, Inc. (NASDAQ:AARD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 250,000 shares of the company's stock, valued at approximately $1,878,000. Adage Capital Partners GP L.L.C. owned 1.15% of Aardvark Therapeutics as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AARD. Walleye Capital LLC bought a new position in Aardvark Therapeutics in the 1st quarter valued at about $88,000. Braidwell LP bought a new position in Aardvark Therapeutics in the 1st quarter valued at about $3,755,000. Finally, Decheng Capital LLC bought a new position in Aardvark Therapeutics in the 1st quarter valued at about $29,419,000.

Insider Buying and Selling at Aardvark Therapeutics

In other news, CEO Tien-Li Lee bought 9,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was acquired at an average price of $7.91 per share, with a total value of $71,190.00. Following the completion of the purchase, the chief executive officer directly owned 1,522,384 shares of the company's stock, valued at approximately $12,042,057.44. This represents a 0.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Nelson Sun bought 6,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were purchased at an average cost of $8.07 per share, with a total value of $48,420.00. Following the purchase, the chief financial officer directly owned 105,484 shares of the company's stock, valued at $851,255.88. The trade was a 6.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 26,000 shares of company stock valued at $209,030 in the last ninety days.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Bank of America lowered their price target on shares of Aardvark Therapeutics from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, August 28th. HC Wainwright started coverage on shares of Aardvark Therapeutics in a research report on Monday, June 30th. They set a "buy" rating and a $40.00 target price on the stock. Wall Street Zen lowered shares of Aardvark Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Royal Bank Of Canada decreased their target price on shares of Aardvark Therapeutics from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $32.60.

Aardvark Therapeutics Price Performance

Shares of AARD stock traded up $0.80 during trading hours on Friday, hitting $8.59. 186,895 shares of the company's stock traded hands, compared to its average volume of 157,751. The stock's 50 day simple moving average is $10.96 and its 200 day simple moving average is $10.55. Aardvark Therapeutics, Inc. has a 12 month low of $4.88 and a 12 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.14).

Aardvark Therapeutics Profile

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.