Aardvark Therapeutics, Inc. (NASDAQ:AARD) Short Interest Update

Aardvark Therapeutics, Inc. (NASDAQ:AARD) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 528,265 shares, a decrease of 42.1% from the June 15th total of 911,832 shares. Based on an average daily volume of 312,175 shares, the days-to-cover ratio is currently 1.7 days. Currently, 2.4% of the shares of the company are short sold.

Institutional Trading of Aardvark Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in AARD. Renaissance Technologies LLC purchased a new position in Aardvark Therapeutics during the first quarter worth about $267,000. Bank of New York Mellon Corp boosted its holdings in Aardvark Therapeutics by 30.8% in the 1st quarter. Bank of New York Mellon Corp now owns 29,320 shares of the company’s stock valued at $111,000 after purchasing an additional 6,905 shares in the last quarter. XTX Topco Ltd purchased a new stake in Aardvark Therapeutics in the 4th quarter valued at approximately $335,000. Superstring Capital Management LP acquired a new position in Aardvark Therapeutics during the 4th quarter worth approximately $912,000. Finally, Millennium Management LLC increased its position in Aardvark Therapeutics by 51.2% during the 4th quarter. Millennium Management LLC now owns 483,340 shares of the company’s stock worth $6,344,000 after purchasing an additional 163,717 shares during the period.

Wall Street Analyst Weigh In

AARD has been the subject of a number of recent research reports. BTIG Research cut shares of Aardvark Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings raised shares of Aardvark Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Morgan Stanley reiterated an “underweight” rating and set a $3.00 target price (down from $7.00) on shares of Aardvark Therapeutics in a research note on Friday, May 15th. Finally, B. Riley Financial lowered their price target on Aardvark Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.70.

Aardvark Therapeutics Trading Down 4.6%

Shares of Aardvark Therapeutics stock traded down $0.29 during trading hours on Friday, hitting $6.04. 11,039 shares of the company were exchanged, compared to its average volume of 270,152. Aardvark Therapeutics has a 1 year low of $3.35 and a 1 year high of $17.94. The business has a 50-day moving average of $4.81 and a 200-day moving average of $7.58. The stock has a market capitalization of $132.16 million, a price-to-earnings ratio of -1.88 and a beta of 3.93.

Aardvark Therapeutics (NASDAQ:AARD) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.99) earnings per share for the quarter. As a group, research analysts anticipate that Aardvark Therapeutics will post -3.46 earnings per share for the current fiscal year.

About Aardvark Therapeutics

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