Aardvark Therapeutics (NASDAQ:AARD) Earns “Equal Weight” Rating from Morgan Stanley

Aardvark Therapeutics (NASDAQ:AARD)‘s stock had its “equal weight” rating reiterated by Morgan Stanley in a note issued to investors on Monday,Benzinga reports. They currently have a $7.00 price objective on the stock, down from their prior price objective of $29.00. Morgan Stanley’s price target points to a potential downside of 43.96% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Royal Bank Of Canada lowered Aardvark Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $18.00 to $6.00 in a research note on Monday. William Blair assumed coverage on shares of Aardvark Therapeutics in a research note on Friday, December 12th. They set an “outperform” rating for the company. Raymond James Financial reissued a “strong-buy” rating and issued a $47.00 price objective on shares of Aardvark Therapeutics in a research note on Monday, January 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aardvark Therapeutics in a research note on Monday, December 29th. Finally, BTIG Research lowered their price target on shares of Aardvark Therapeutics from $26.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Aardvark Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $26.36.

Aardvark Therapeutics Stock Performance

Shares of AARD stock opened at $12.49 on Monday. Aardvark Therapeutics has a fifty-two week low of $4.88 and a fifty-two week high of $17.94. The stock’s 50-day simple moving average is $13.57 and its 200-day simple moving average is $12.18. The firm has a market capitalization of $271.91 million and a PE ratio of -5.89.

Insider Buying and Selling

In related news, CEO Tien-Li Lee acquired 7,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were purchased at an average cost of $14.48 per share, for a total transaction of $101,360.00. Following the acquisition, the chief executive officer owned 1,551,613 shares in the company, valued at $22,467,356.24. The trade was a 0.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Nelson Sun acquired 3,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were bought at an average cost of $14.40 per share, with a total value of $43,200.00. Following the transaction, the chief financial officer directly owned 108,484 shares in the company, valued at $1,562,169.60. This trade represents a 2.84% increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Investors Weigh In On Aardvark Therapeutics

A number of institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Aardvark Therapeutics during the second quarter worth about $42,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Aardvark Therapeutics during the 4th quarter worth $47,000. Persistent Asset Partners Ltd acquired a new position in shares of Aardvark Therapeutics during the 4th quarter worth about $56,000. New York State Common Retirement Fund purchased a new position in Aardvark Therapeutics in the second quarter valued at approximately $99,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Aardvark Therapeutics in the 4th quarter valued at $102,000.

Aardvark Therapeutics Company Profile

Aardvark Therapeutics, Inc is a clinical-stage biopharmaceutical company based in Cambridge, Massachusetts, specializing in the discovery and development of small-molecule modulators of the retinoic acid receptor–related orphan receptor gamma (RORγ). RORγ plays a central role in T-helper 17 (Th17) cell differentiation and inflammatory processes. By targeting this transcription factor, Aardvark aims to address a range of autoimmune and immune-mediated diseases.

The company’s lead programs consist of selective RORγ inverse agonists designed to suppress pathogenic Th17-driven responses in conditions such as psoriasis, inflammatory bowel disease and other chronic inflammatory disorders.