Aardvark Therapeutics, Inc.’s (NASDAQ:AARD) Lock-Up Period To End on August 12th

Aardvark Therapeutics’ (NASDAQ:AARD) lock-up period will end on Tuesday, August 12th. Aardvark Therapeutics had issued 5,888,000 shares in its IPO on February 13th. The total size of the offering was $94,208,000 based on an initial share price of $16.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AARD shares. Wall Street Zen cut Aardvark Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Royal Bank Of Canada decreased their target price on Aardvark Therapeutics from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, May 15th. Finally, HC Wainwright started coverage on Aardvark Therapeutics in a research note on Monday, June 30th. They issued a “buy” rating and a $40.00 target price for the company. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Aardvark Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Aardvark Therapeutics Stock Up 0.2%

NASDAQ:AARD opened at $11.99 on Friday. Aardvark Therapeutics has a 1 year low of $4.88 and a 1 year high of $19.58. The firm has a 50-day simple moving average of $12.58.

Aardvark Therapeutics (NASDAQ:AARD) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.01).

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Walleye Capital LLC acquired a new position in shares of Aardvark Therapeutics during the first quarter worth about $88,000. Goldman Sachs Group Inc. acquired a new position in shares of Aardvark Therapeutics during the first quarter worth about $153,000. Geode Capital Management LLC boosted its position in shares of Aardvark Therapeutics by 129.7% during the second quarter. Geode Capital Management LLC now owns 136,927 shares of the company’s stock worth $1,851,000 after buying an additional 77,327 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Aardvark Therapeutics during the first quarter worth about $1,878,000. Finally, Braidwell LP acquired a new position in shares of Aardvark Therapeutics during the first quarter worth about $3,755,000.

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.