Aardvark Therapeutics (NASDAQ:AARD) Research Coverage Started at Jones Trading

Jones Trading started coverage on shares of Aardvark Therapeutics (NASDAQ:AARD) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $33.00 price objective on the stock.

A number of other research firms have also issued reports on AARD. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Aardvark Therapeutics in a report on Tuesday, September 23rd. Wall Street Zen lowered shares of Aardvark Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Bank of America lowered their price target on shares of Aardvark Therapeutics from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 28th. Stifel Nicolaus began coverage on shares of Aardvark Therapeutics in a research report on Monday. They set a “buy” rating and a $24.00 price target on the stock. Finally, Royal Bank Of Canada lowered their price target on shares of Aardvark Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Thursday, August 14th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.43.

Aardvark Therapeutics Stock Up 4.6%

Aardvark Therapeutics stock opened at $16.08 on Wednesday. Aardvark Therapeutics has a 52-week low of $4.88 and a 52-week high of $19.58. The company has a fifty day simple moving average of $10.87 and a 200-day simple moving average of $10.72.

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

Insider Transactions at Aardvark Therapeutics

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Decheng Capital LLC acquired a new position in Aardvark Therapeutics in the first quarter valued at about $29,419,000. Cormorant Asset Management LP acquired a new position in Aardvark Therapeutics in the first quarter valued at about $6,009,000. Braidwell LP acquired a new position in Aardvark Therapeutics in the first quarter valued at about $3,755,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Aardvark Therapeutics during the first quarter worth about $1,878,000. Finally, Geode Capital Management LLC lifted 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 purchasing an additional 77,327 shares in the last quarter.

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.