Goldman Sachs Group Inc. Purchases New Shares in Aardvark Therapeutics, Inc. $AARD

Key Points

• Goldman Sachs Group Inc. acquired a new stake in Aardvark Therapeutics, purchasing 20,311 shares valued at approximately $153,000, representing a 0.09% ownership in the company.
• Insider transactions reveal that CFO Nelson Sun and CEO Tien-Li Lee both bought shares of Aardvark Therapeutics, increasing their positions significantly in the company.
• Aardvark Therapeutics has received mixed ratings from analysts, with price targets ranging from $19.00 to $40.00, and an average consensus target price of $31.17.

Goldman Sachs Group Inc. purchased a new stake in Aardvark Therapeutics, Inc. (NASDAQ:AARD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,311 shares of the company's stock, valued at approximately $153,000. Goldman Sachs Group Inc. owned 0.09% of Aardvark Therapeutics at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Cormorant Asset Management LP bought a new stake in Aardvark Therapeutics in the 1st quarter valued at $6,009,000. Adage Capital Partners GP L.L.C. acquired a new position in Aardvark Therapeutics in the 1st quarter valued at $1,878,000. Braidwell LP acquired a new position in Aardvark Therapeutics in the 1st quarter valued at $3,755,000. Walleye Capital LLC acquired a new position in Aardvark Therapeutics in the 1st quarter valued at $88,000. Finally, Decheng Capital LLC acquired a new position in Aardvark Therapeutics in the 1st quarter valued at $29,419,000.

Insider Transactions at Aardvark Therapeutics

In related news, CFO Nelson Sun purchased 6,000 shares of Aardvark Therapeutics stock in a transaction on Tuesday, September 9th. The shares were purchased at an average price of $8.07 per share, for a total transaction of $48,420.00. Following the transaction, the chief financial officer owned 105,484 shares of the company's stock, valued at approximately $851,255.88. This represents a 6.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tien-Li Lee purchased 10,000 shares of Aardvark Therapeutics stock in a transaction on Monday, September 15th. The stock was bought at an average price of $9.66 per share, for a total transaction of $96,600.00. Following the transaction, the chief executive officer directly owned 1,543,384 shares in the company, valued at approximately $14,909,089.44. The trade was a 0.65% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 36,000 shares of company stock worth $305,630 in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AARD. Royal Bank Of Canada dropped their price objective on Aardvark Therapeutics from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Thursday, August 14th. Wall Street Zen cut Aardvark Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Bank of America dropped their price objective on Aardvark Therapeutics from $26.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, August 28th. Stifel Nicolaus began coverage on Aardvark Therapeutics in a report on Monday. They issued a "buy" rating and a $24.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Aardvark Therapeutics in a report on Tuesday, September 23rd. Six analysts have rated the stock with a Buy rating, According to MarketBeat, Aardvark Therapeutics presently has an average rating of "Buy" and a consensus target price of $31.17.

Aardvark Therapeutics Stock Up 3.4%

Shares of AARD opened at $13.68 on Tuesday. Aardvark Therapeutics, Inc. has a 12-month low of $4.88 and a 12-month high of $19.58. The business has a 50-day simple moving average of $10.81 and a two-hundred day simple moving average of $10.58.

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

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