Aardvark Therapeutics (NASDAQ:AARD) Now Covered by Jones Trading

Jones Trading began coverage on shares of Aardvark Therapeutics (NASDAQ:AARD) in a research report sent to investors on Wednesday,Benzinga reports. The firm issued a buy rating and a $33.00 price target on the stock.

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

Aardvark Therapeutics Price Performance

AARD opened at $14.71 on Wednesday. Aardvark Therapeutics has a 12 month low of $4.88 and a 12 month high of $19.58. The business has a 50 day simple moving average of $10.81 and a 200-day simple moving average of $10.63.

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

Insider Activity at Aardvark Therapeutics

In related news, CFO Nelson Sun bought 6,000 shares of Aardvark Therapeutics stock in a transaction that occurred on Tuesday, September 9th. The shares were purchased at an average price of $8.07 per share, with a total value of $48,420.00. Following the purchase, the chief financial officer owned 105,484 shares in the company, valued at $851,255.88. This represents a 6.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tien-Li Lee bought 10,000 shares of the stock in a transaction on Monday, September 15th. The shares were bought at an average price of $9.66 per share, for a total transaction of $96,600.00. Following the acquisition, the chief executive officer owned 1,543,384 shares in the company, valued at $14,909,089.44. The trade was a 0.65% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 36,000 shares of company stock valued at $305,630 over the last 90 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Aardvark Therapeutics during the 2nd quarter worth about $42,000. New York State Common Retirement Fund purchased a new position in shares of Aardvark Therapeutics during the second quarter valued at approximately $99,000. Bank of America Corp DE boosted its position in Aardvark Therapeutics by 72.9% during the second quarter. Bank of America Corp DE now owns 7,989 shares of the company’s stock worth $108,000 after acquiring an additional 3,369 shares during the last quarter. Walleye Capital LLC acquired a new stake in Aardvark Therapeutics during the first quarter worth approximately $88,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Aardvark Therapeutics in the 1st quarter worth approximately $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.