HC Wainwright Issues Pessimistic Forecast for Aardvark Therapeutics (NASDAQ:AARD) Stock Price

Aardvark Therapeutics (NASDAQ:AARD) had its target price decreased by analysts at HC Wainwright from $6.00 to $4.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. HC Wainwright’s target price points to a potential upside of 2.56% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aardvark Therapeutics in a report on Tuesday, September 29th. Wall Street Zen upgraded shares of Aardvark Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. BTIG Research reiterated a “neutral” rating on shares of Aardvark Therapeutics in a report on Monday, October 12th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $6.00 target price on shares of Aardvark Therapeutics in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.89.

Aardvark Therapeutics Stock Performance

AARD opened at $3.90 on Monday. The firm has a market cap of $85.33 million, a P/E ratio of -1.21 and a beta of 3.80. The business has a 50 day moving average price of $5.45 and a 200 day moving average price of $5.29. Aardvark Therapeutics has a twelve month low of $3.35 and a twelve month high of $16.60.

Aardvark Therapeutics (NASDAQ:AARD) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.87) by $0.21. As a group, analysts anticipate that Aardvark Therapeutics will post -3.17 earnings per share for the current fiscal year.

Insider Transactions at Aardvark Therapeutics

In other Aardvark Therapeutics news, insider Nelson Sun sold 62,000 shares of Aardvark Therapeutics stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $5.18, for a total value of $321,160.00. Following the transaction, the insider directly owned 35,475 shares of the company’s stock, valued at $183,760.50. The trade was a 63.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 17.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Aardvark Therapeutics in the second quarter worth $1,077,000. Susquehanna International Group LLP bought a new position in Aardvark Therapeutics during the second quarter worth $138,000. J. Goldman & Co LP bought a new position in Aardvark Therapeutics during the second quarter worth $233,000. Ieq Capital LLC acquired a new position in Aardvark Therapeutics during the 2nd quarter valued at $221,000. Finally, Renaissance Technologies LLC acquired a new position in Aardvark Therapeutics during the 1st quarter valued at $267,000.

Aardvark Therapeutics Company Profile

Aardvark Therapeutics, Inc is a clinical-stage biopharmaceutical company based in San Diego, California. The company develops novel therapies for obesity and other metabolic diseases, with a focus on treatments designed to regulate appetite and food intake.

Its lead investigational product, AARD-001, is an orally administered small-molecule candidate intended to activate bitter taste receptors and stimulate signaling pathways in the gastrointestinal tract that may influence appetite and satiety.