Aardvark Therapeutics (NASDAQ:AARD) Trading 4.6% Higher – Time to Buy?

Aardvark Therapeutics, Inc. (NASDAQ:AARD)’s stock price rose 4.6% on Thursday . The stock traded as high as $3.66 and last traded at $3.64. Approximately 91,621 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 178,192 shares. The stock had previously closed at $3.48.

Wall Street Analyst Weigh In

AARD has been the topic of several research analyst reports. B. Riley Financial reduced their price objective on Aardvark Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Royal Bank Of Canada lowered Aardvark Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $18.00 to $6.00 in a research note on Monday, March 2nd. Oppenheimer reduced their price objective on Aardvark Therapeutics from $35.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. Morgan Stanley reiterated an “underweight” rating and issued a $3.00 target price (down from $7.00) on shares of Aardvark Therapeutics in a research report on Friday, May 15th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $6.00 target price (down from $24.00) on shares of Aardvark Therapeutics in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Aardvark Therapeutics presently has an average rating of “Hold” and a consensus target price of $19.70.

Aardvark Therapeutics Price Performance

The stock has a market capitalization of $79.41 million, a P/E ratio of -1.13 and a beta of 4.47. The firm has a 50-day simple moving average of $4.69 and a 200 day simple moving average of $8.90.

Aardvark Therapeutics (NASDAQ:AARD) last posted its earnings results on Thursday, May 7th. The company reported ($0.99) EPS for the quarter. Sell-side analysts anticipate that Aardvark Therapeutics, Inc. will post -3.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aardvark Therapeutics

Several large investors have recently bought and sold shares of the company. Cresset Asset Management LLC bought a new position in shares of Aardvark Therapeutics during the third quarter worth about $1,951,000. Goldman Sachs Group Inc. bought a new position in shares of Aardvark Therapeutics during the first quarter worth about $153,000. Bank of America Corp DE raised its position 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 acquiring an additional 3,369 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of Aardvark Therapeutics during the fourth quarter worth about $102,000. Finally, New York State Common Retirement Fund bought a new position in shares of Aardvark Therapeutics during the second quarter worth about $99,000.

Aardvark Therapeutics Company Profile

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.