Royal Bank Of Canada Lowers Aardvark Therapeutics (NASDAQ:AARD) Price Target to $19.00

Key Points

• Royal Bank of Canada has downgraded the price target for Aardvark Therapeutics from $20.00 to $19.00, while maintaining an "outperform" rating.
• Aardvark's stock has a potential upside of 66.08% from its current price, which is $11.44.
• Aardvark Therapeutics reported a loss of ($0.66) EPS for the last quarter, missing the consensus estimate of ($0.52).

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report) had its price target cut by research analysts at Royal Bank Of Canada from $20.00 to $19.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 66.08% from the stock's current price.

AARD has been the topic of several other research reports. Wall Street Zen cut Aardvark Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. HC Wainwright initiated coverage on Aardvark Therapeutics in a report on Monday, June 30th. They set a "buy" rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.80.

Aardvark Therapeutics Stock Performance

Aardvark Therapeutics stock traded up $0.24 during mid-day trading on Thursday, hitting $11.44. 14,015 shares of the company were exchanged, compared to its average volume of 86,288. Aardvark Therapeutics has a 12-month low of $4.88 and a 12-month high of $19.58. The firm has a 50 day moving average price of $12.53.

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report) last posted its quarterly earnings data 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).

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Decheng Capital LLC acquired a new position in Aardvark Therapeutics in the first quarter valued at $29,419,000. Cormorant Asset Management LP acquired a new position in Aardvark Therapeutics in the first quarter valued at $6,009,000. Braidwell LP acquired a new position in Aardvark Therapeutics in the first quarter valued at $3,755,000. Adage Capital Partners GP L.L.C. acquired a new position in Aardvark Therapeutics in the first quarter valued at $1,878,000. Finally, Geode Capital Management LLC boosted its holdings in Aardvark Therapeutics by 129.7% in the second quarter. Geode Capital Management LLC now owns 136,927 shares of the company's stock valued at $1,851,000 after acquiring an additional 77,327 shares during the last quarter.

About Aardvark Therapeutics

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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