Aardvark Therapeutics (NASDAQ:AARD) Releases Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Aardvark Therapeutics (NASDAQ:AARD) posted its quarterly earnings data on Tuesday. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.21, Zacks reports.

Aardvark Therapeutics Price Performance

Aardvark Therapeutics stock traded down $0.37 during trading on Tuesday, reaching $7.19. 177,813 shares of the company were exchanged, compared to its average volume of 256,003. The stock’s 50 day simple moving average is $5.42 and its two-hundred day simple moving average is $6.67. The company has a market capitalization of $157.32 million, a P/E ratio of -2.24 and a beta of 3.80. Aardvark Therapeutics has a 52-week low of $3.35 and a 52-week high of $17.94.

Analyst Ratings Changes

AARD has been the subject of a number of research reports. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 target price (down from $7.00) on shares of Aardvark Therapeutics in a report on Friday, May 15th. BTIG Research lowered shares of Aardvark Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings upgraded Aardvark Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 2nd. HC Wainwright reaffirmed a “neutral” rating and issued a $6.00 price target on shares of Aardvark Therapeutics in a report on Monday, July 20th. Finally, B. Riley Financial cut their price objective on Aardvark Therapeutics from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.30.

Hedge Funds Weigh In On Aardvark Therapeutics

A number of institutional investors have recently bought and sold shares of AARD. Goldman Sachs Group Inc. acquired a new stake in Aardvark Therapeutics during the first quarter worth $153,000. Geode Capital Management LLC lifted its holdings in shares of Aardvark Therapeutics by 129.7% in the 2nd quarter. Geode Capital Management LLC now owns 136,927 shares of the company’s stock worth $1,851,000 after acquiring an additional 77,327 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Aardvark Therapeutics in the 2nd quarter worth approximately $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Aardvark Therapeutics during the second quarter worth $42,000. Finally, Bank of America Corp DE grew its stake in shares of Aardvark Therapeutics by 72.9% in the second quarter. Bank of America Corp DE now owns 7,989 shares of the company’s stock valued at $108,000 after buying an additional 3,369 shares in the last quarter.

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 (ROR?). ROR? 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 ROR? inverse agonists designed to suppress pathogenic Th17-driven responses in conditions such as psoriasis, inflammatory bowel disease and other chronic inflammatory disorders.