Aardvark Therapeutics, Inc. (NASDAQ:AARD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Aardvark Therapeutics, Inc. (NASDAQ:AARD) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and eight have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $30.75.

A number of equities research analysts have recently weighed in on AARD shares. Stifel Nicolaus started coverage on Aardvark Therapeutics in a research report on Monday, September 29th. They issued a “buy” rating and a $24.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Aardvark Therapeutics in a research note on Tuesday, September 23rd. BTIG Research started coverage on shares of Aardvark Therapeutics in a research report on Friday. They set a “buy” rating and a $26.00 price objective on the stock. Royal Bank Of Canada dropped their target price on shares of Aardvark Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Thursday, August 14th. Finally, Jones Trading assumed coverage on shares of Aardvark Therapeutics in a research note on Wednesday, October 1st. They set a “buy” rating and a $33.00 target price on the stock.

Insider Buying and Selling

In other news, CEO Tien-Li Lee bought 10,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was purchased at an average price of $9.66 per share, with a total value of $96,600.00. Following the transaction, the chief executive officer owned 1,543,384 shares of the company’s stock, valued at approximately $14,909,089.44. The trade was a 0.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nelson Sun bought 6,000 shares of the stock in a transaction dated Tuesday, September 9th. The stock was purchased at an average price of $8.07 per share, with a total value of $48,420.00. Following the purchase, the chief financial officer owned 105,484 shares in the company, valued at $851,255.88. This trade represents a 6.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 36,000 shares of company stock worth $305,630 in the last quarter.

Institutional Trading of Aardvark Therapeutics

A number of hedge funds have recently modified their holdings of the business. Decheng Capital LLC bought a new position in shares of Aardvark Therapeutics in the 1st quarter worth about $29,419,000. Walleye Capital LLC purchased a new stake in Aardvark Therapeutics in the first quarter worth about $88,000. Braidwell LP bought a new position in shares of Aardvark Therapeutics during the first quarter valued at approximately $3,755,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Aardvark Therapeutics during the first quarter valued at approximately $1,878,000. Finally, Cormorant Asset Management LP purchased a new position in shares of Aardvark Therapeutics during the first quarter valued at approximately $6,009,000.

Aardvark Therapeutics Stock Up 2.7%

Shares of Aardvark Therapeutics stock opened at $10.14 on Friday. The company’s fifty day simple moving average is $11.76 and its two-hundred day simple moving average is $11.56. Aardvark Therapeutics has a 12-month low of $4.88 and a 12-month high of $19.58. The firm has a market cap of $220.04 million and a PE ratio of -7.40.

Aardvark Therapeutics (NASDAQ:AARD) last posted its earnings results on Wednesday, August 13th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.14).

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.