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

Aardvark Therapeutics, Inc. (NASDAQ:AARD) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 404,400 shares, a decline of 39.3% from the August 31st total of 665,800 shares. Currently, 3.3% of the company’s stock are short sold. Based on an average daily trading volume, of 120,200 shares, the short-interest ratio is currently 3.4 days. Based on an average daily trading volume, of 120,200 shares, the short-interest ratio is currently 3.4 days. Currently, 3.3% of the company’s stock are short sold.

Insiders Place Their Bets

In other news, CFO Nelson Sun bought 6,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were bought at an average cost of $8.07 per share, with a total value of $48,420.00. Following the acquisition, the chief financial officer owned 105,484 shares in the company, valued at $851,255.88. This trade represents a 6.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tien-Li Lee bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was purchased at an average price of $9.66 per share, with a total value of $96,600.00. Following the completion of the purchase, the chief executive officer directly 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. Over the last 90 days, insiders have purchased 36,000 shares of company stock worth $305,630.

Institutional Investors Weigh In On Aardvark Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Aardvark Therapeutics in the 2nd quarter valued at $42,000. Bank of America Corp DE increased its position 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 worth $108,000 after purchasing an additional 3,369 shares during the period. New York State Common Retirement Fund acquired a new position in Aardvark Therapeutics in the second quarter valued at about $99,000. Walleye Capital LLC acquired a new position in Aardvark Therapeutics in the first quarter valued at about $88,000. Finally, Goldman Sachs Group Inc. bought a new stake in Aardvark Therapeutics during the first quarter worth about $153,000.

Aardvark Therapeutics Price Performance

Shares of Aardvark Therapeutics stock opened at $17.05 on Tuesday. The firm has a 50-day moving average of $10.94 and a 200-day moving average of $10.79. Aardvark Therapeutics has a 52-week low of $4.88 and a 52-week high of $19.58.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aardvark Therapeutics in a research report on Saturday, September 27th. Jones Trading initiated coverage on Aardvark Therapeutics in a report on Wednesday, October 1st. They set a “buy” rating and a $33.00 price target for the company. Stifel Nicolaus started coverage on shares of Aardvark Therapeutics in a report on Monday, September 29th. They issued a “buy” rating and a $24.00 price objective on the stock. Bank of America dropped their price objective on shares of Aardvark Therapeutics from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 28th. Finally, Royal Bank Of Canada reduced their target price on shares of Aardvark Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Thursday, August 14th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.43.

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.