Aardvark Therapeutics (NASDAQ:AARD) Receives “Underweight” Rating from Morgan Stanley

Morgan Stanley reissued their underweight rating on shares of Aardvark Therapeutics (NASDAQ:AARD) in a research report released on Friday morning, MarketBeat reports. Morgan Stanley currently has a $3.00 price target on the stock, down from their previous price target of $7.00.

AARD has been the subject of several other reports. Weiss Ratings upgraded shares of Aardvark Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. BTIG Research reiterated a “buy” rating and issued a $9.00 target price on shares of Aardvark Therapeutics in a report on Tuesday, March 24th. Royal Bank Of Canada cut shares of Aardvark Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $18.00 to $6.00 in a report on Monday, March 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $6.00 target price (down from $24.00) on shares of Aardvark Therapeutics in a report on Monday, March 2nd. Finally, B. Riley Financial started coverage on shares of Aardvark Therapeutics in a report on Wednesday, January 28th. They issued a “buy” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.70.

Aardvark Therapeutics Trading Down 32.1%

NASDAQ:AARD opened at $4.57 on Friday. Aardvark Therapeutics has a twelve month low of $3.35 and a twelve month high of $17.94. The company has a 50-day moving average of $4.94 and a 200-day moving average of $9.77. The firm has a market cap of $99.70 million, a price-to-earnings ratio of -1.42 and a beta of 5.11.

Aardvark Therapeutics (NASDAQ:AARD) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.99) earnings per share for the quarter. On average, research analysts forecast that Aardvark Therapeutics will post -3.53 earnings per share for the current year.

Hedge Funds Weigh In On Aardvark Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AARD. SymBiosis Capital Partners LLC bought a new position in Aardvark Therapeutics during the fourth quarter valued at approximately $6,255,000. Millennium Management LLC bought a new position in Aardvark Therapeutics during the third quarter valued at approximately $4,248,000. Cresset Asset Management LLC bought a new position in Aardvark Therapeutics during the third quarter valued at approximately $1,951,000. Geode Capital Management LLC raised its position in Aardvark Therapeutics by 53.5% during the fourth quarter. Geode Capital Management LLC now owns 297,865 shares of the company’s stock valued at $3,910,000 after acquiring an additional 103,830 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Aardvark Therapeutics by 20.6% during the third quarter. Vanguard Group Inc. now owns 555,721 shares of the company’s stock valued at $7,386,000 after acquiring an additional 94,744 shares in the last quarter.

Key Aardvark Therapeutics News

Here are the key news stories impacting Aardvark Therapeutics this week:

• Negative Sentiment: The FDA’s full clinical hold on ARD-101 has halted Aardvark’s late-stage Prader-Willi syndrome program, creating major uncertainty around the lead asset’s path forward. Reuters article
• Negative Sentiment: Aardvark said it plans to unblind HERO and OLE data as it works with the FDA, signaling that the company is reassessing the program’s next steps after the regulatory setback. GlobeNewswire article
• Neutral Sentiment: Morgan Stanley reaffirmed an underweight rating and cut its price target to $3 from $7, reflecting a more cautious view on the stock after the clinical hold. Benzinga article
• Negative Sentiment: Reports note that AARD trading was briefly paused under a LULD halt, highlighting the sharp selloff and elevated volatility following the FDA news. MarketWatch article

About Aardvark Therapeutics

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.