Aardvark Therapeutics (NASDAQ:AARD) Given Underweight Rating at Morgan Stanley

Aardvark Therapeutics (NASDAQ:AARD)‘s stock had its “underweight” rating reissued by Morgan Stanley in a research note issued on Friday,Benzinga reports. They currently have a $3.00 target price on the stock, down from their previous target price of $7.00. Morgan Stanley’s price target would indicate a potential downside of 55.42% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Aardvark Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Oppenheimer reduced their target price on Aardvark Therapeutics from $35.00 to $21.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. Royal Bank Of Canada downgraded Aardvark Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $18.00 to $6.00 in a report on Monday, March 2nd. HC Wainwright reaffirmed a “neutral” rating on shares of Aardvark Therapeutics in a research report on Monday, March 2nd. Finally, B. Riley Financial started coverage on Aardvark Therapeutics in a report on Wednesday, January 28th. They set a “buy” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.20.

Aardvark Therapeutics Price Performance

Aardvark Therapeutics stock opened at $6.73 on Friday. The firm has a market capitalization of $146.85 million, a price-to-earnings ratio of -2.10 and a beta of 5.11. The company’s 50 day simple moving average is $4.96 and its 200 day simple moving average is $9.80. Aardvark Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $17.94.

Aardvark Therapeutics (NASDAQ:AARD) last posted its earnings results on Thursday, May 7th. The company reported ($0.99) earnings per share for the quarter. As a group, analysts predict that Aardvark Therapeutics will post -3.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Aardvark Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new stake in shares of Aardvark Therapeutics in the 1st quarter valued at about $267,000. Bank of New York Mellon Corp boosted its position in shares of Aardvark Therapeutics by 30.8% during the first quarter. Bank of New York Mellon Corp now owns 29,320 shares of the company’s stock worth $111,000 after buying an additional 6,905 shares during the period. XTX Topco Ltd bought a new position in shares of Aardvark Therapeutics during the fourth quarter worth about $335,000. Superstring Capital Management LP bought a new position in shares of Aardvark Therapeutics during the fourth quarter worth about $912,000. Finally, Millennium Management LLC raised its position in Aardvark Therapeutics by 51.2% in the 4th quarter. Millennium Management LLC now owns 483,340 shares of the company’s stock valued at $6,344,000 after buying an additional 163,717 shares during the last quarter.

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.