HC Wainwright Reaffirms Buy Rating for Aardvark Therapeutics (NASDAQ:AARD)

Key Points

• HC Wainwright has reaffirmed a buy rating for Aardvark Therapeutics (NASDAQ:AARD) with a price target of $40.00, suggesting a potential upside of 256.19% from the last closing price.
• Multiple brokerages have offered varying assessments, with Bank of America lowering its price objective from $26.00 to $25.00 while maintaining a buy rating, contrasting with Wall Street Zen's downgrade from hold to sell.
• Recent insider transactions included CFO Nelson Sun buying 6,000 shares at $8.07 each, and CEO Tien-Li Lee acquiring 10,000 shares at $9.66, indicating increased confidence from company executives.

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report)'s stock had its "buy" rating restated by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $40.00 price objective on the stock. HC Wainwright's price target would indicate a potential upside of 256.19% from the company's previous close.

Several other brokerages have also commented on AARD. Bank of America decreased their price objective 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. Wall Street Zen lowered shares of Aardvark Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Finally, Royal Bank Of Canada decreased their price objective on shares of Aardvark Therapeutics from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Thursday, August 14th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $32.60.

Aardvark Therapeutics Price Performance

Aardvark Therapeutics stock opened at $11.23 on Tuesday. The firm has a 50 day simple moving average of $10.72 and a 200-day simple moving average of $10.50. Aardvark Therapeutics has a 1-year low of $4.88 and a 1-year high of $19.58.

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.14).

Insider Buying and Selling

In related news, CFO Nelson Sun bought 6,000 shares of the company's 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 transaction, the chief financial officer directly 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO Tien-Li Lee bought 10,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was bought at an average cost of $9.66 per share, for a total transaction of $96,600.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 36,000 shares of company stock worth $305,630.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Aardvark Therapeutics in the 2nd quarter valued at $42,000. New York State Common Retirement Fund purchased a new position in shares of Aardvark Therapeutics in the 2nd quarter valued at $99,000. Bank of America Corp DE grew its position in shares of Aardvark Therapeutics by 72.9% in the 2nd quarter. Bank of America Corp DE now owns 7,989 shares of the company's stock valued at $108,000 after buying an additional 3,369 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Aardvark Therapeutics in the 1st quarter valued at $88,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Aardvark Therapeutics in the 1st quarter valued at $153,000.

Aardvark Therapeutics Company 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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