Royal Bank of Canada Lowers Aardvark Therapeutics (NASDAQ:AARD) Price Target to $20.00

Aardvark Therapeutics (NASDAQ:AARD) had its target price reduced by research analysts at Royal Bank of Canada from $21.00 to $20.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 102.22% from the stock’s current price.

AARD has been the topic of a number of other reports. Bank of America increased their target price on shares of Aardvark Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Morgan Stanley assumed coverage on Aardvark Therapeutics in a report on Monday, March 10th. They set an “overweight” rating and a $29.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 target price on shares of Aardvark Therapeutics in a report on Tuesday, April 1st.

Aardvark Therapeutics Stock Up 8.8%

NASDAQ:AARD opened at $9.89 on Thursday. Aardvark Therapeutics has a 1 year low of $4.88 and a 1 year high of $19.58. The business’s 50-day simple moving average is $9.04.

Aardvark Therapeutics (NASDAQ:AARD) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.01).

Institutional Trading of Aardvark Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Decheng Capital LLC purchased a new position in Aardvark Therapeutics during the 1st quarter worth $29,419,000. Walleye Capital LLC purchased a new stake in shares of Aardvark Therapeutics in the first quarter valued at about $88,000. Braidwell LP acquired a new stake in shares of Aardvark Therapeutics during the first quarter worth about $3,755,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Aardvark Therapeutics during the first quarter worth about $1,878,000. Finally, Cormorant Asset Management LP purchased a new position in shares of Aardvark Therapeutics in the 1st quarter valued at approximately $6,009,000.

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.