HC Wainwright Reiterates “Buy” Rating for Aardvark Therapeutics (NASDAQ:AARD)

HC Wainwright restated their buy rating on shares of Aardvark Therapeutics (NASDAQ:AARD) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $40.00 price target on the stock.

AARD has been the subject of several other reports. Wall Street Zen cut Aardvark Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Royal Bank Of Canada dropped their price target on Aardvark Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Thursday, August 14th. Finally, Bank of America dropped their price target on Aardvark Therapeutics from $26.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 28th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $32.60.

Aardvark Therapeutics Trading Up 4.1%

Shares of NASDAQ AARD opened at $12.67 on Tuesday. Aardvark Therapeutics has a 12 month low of $4.88 and a 12 month high of $19.58. The stock has a 50 day moving average of $10.74 and a 200-day moving average of $10.54.

Aardvark Therapeutics (NASDAQ:AARD) last issued its earnings results on Wednesday, August 13th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.14).

Insider Buying and Selling at Aardvark Therapeutics

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

Hedge Funds Weigh In On Aardvark Therapeutics

A number of institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Aardvark Therapeutics during the 2nd quarter worth $42,000. Bank of America Corp DE raised its holdings in shares of Aardvark Therapeutics by 72.9% during the 2nd quarter. Bank of America Corp DE now owns 7,989 shares of the company’s stock worth $108,000 after buying an additional 3,369 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Aardvark Therapeutics during the 2nd quarter worth $99,000. Walleye Capital LLC acquired a new position in shares of Aardvark Therapeutics during the 1st quarter worth $88,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Aardvark Therapeutics during the 1st quarter worth $153,000.

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.