Aardvark Therapeutics, Inc. (NASDAQ:AARD) Sees Significant Drop in Short Interest

Aardvark Therapeutics, Inc. (NASDAQ:AARD) was the target of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 1,383,335 shares, a decrease of 23.4% from the February 26th total of 1,806,347 shares. Currently, 6.4% of the shares of the stock are sold short. Based on an average trading volume of 790,574 shares, the short-interest ratio is presently 1.7 days.

Aardvark Therapeutics Stock Up 1.1%

AARD stock opened at $3.55 on Friday. Aardvark Therapeutics has a 52 week low of $3.35 and a 52 week high of $17.94. The firm has a 50-day simple moving average of $9.89 and a 200-day simple moving average of $11.56. The stock has a market capitalization of $77.46 million and a P/E ratio of -1.21.

Aardvark Therapeutics (NASDAQ:AARD) last issued its quarterly earnings results on Monday, March 23rd. The company reported ($0.81) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.81).

Institutional Trading of Aardvark Therapeutics

A number of institutional investors have recently made changes to their positions in the company. UBS Group AG lifted its holdings in Aardvark Therapeutics by 5.4% in the 3rd quarter. UBS Group AG now owns 54,728 shares of the company’s stock valued at $727,000 after purchasing an additional 2,804 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Aardvark Therapeutics during the second quarter worth $42,000. Bank of America Corp DE grew its holdings in shares of 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 buying an additional 3,369 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Aardvark Therapeutics in the fourth quarter valued at about $47,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Aardvark Therapeutics in the fourth quarter valued at about $56,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AARD shares. BTIG Research restated a “buy” rating and set a $9.00 target price on shares of Aardvark Therapeutics in a research report on Tuesday, March 24th. William Blair started coverage on Aardvark Therapeutics in a report on Friday, December 12th. They issued an “outperform” rating for the company. HC Wainwright reiterated a “neutral” rating on shares of Aardvark Therapeutics in a research report on Monday, March 2nd. Raymond James Financial reissued a “strong-buy” rating and issued a $47.00 price objective on shares of Aardvark Therapeutics in a report on Monday, January 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aardvark Therapeutics in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Aardvark Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $25.09.

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.