AARD Aardvark Therapeutics, Inc. - Common Stock

NASDAQ · Pharmaceuticals · View on SEC EDGAR ↗
$6.64
Price · Aug 18, 2026
Fundamentals as of Aug 11, 2026

AARD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$6.63
Market Cap
$145M
P/E (TTM)
-2.3
EPS (TTM)
$-2.93
Revenue (TTM)
$0
Div Yield
ROE
-47.3%
Debt/Equity
52W Range
$3 – $18

AARD Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $0
2025-12-31 2025-12-31
EPS $-2.93
2-point trend, +43.1%
2024-12-31 2025-12-31
Free Cash Flow $-54M
2025-12-31 2025-12-31
Margins

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
AARD
Peer Median
P/E (TTM)
-2.3
23.4
P/B
1.4
2.5
Price / FCF
-2.7

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
AARD
Peer Median
ROA
-59.2%
-34.8%
ROE
-47.3%
-33.2%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
AARD
Peer Median
Current Ratio
10.6
1.5
Quick Ratio
10.4

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
AARD
Peer Median

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
AARD
Peer Median
EPS (Diluted)
2-point trend, +43.1%
$-2.93

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
AARD
Peer Median

AARD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 18 analysts
  • Strong Buy 5 27.8%
  • Buy 6 33.3%
  • Hold 5 27.8%
  • Sell 2 11.1%
  • Strong Sell 0 0.0%

12-Month Price Target

10 analysts · 2026-08-19
Median target $6.50 -2.0%
Mean target $14.50 +118.5%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
-0.01%
Period EPS Actual EPS Est Surprise
March 31, 2026 $-0.99 $-0.89 -0.10%
Dec. 31, 2025 $-0.81 $-0.85 0.04%
Sept. 30, 2025 $-0.75 $-0.81 0.06%
June 30, 2025 $-0.66 $-0.61 -0.05%
March 31, 2025 $-0.71 $-0.69 -0.02%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
AARD $286M -4.5 -47.3%
DERM -16.4 10.2% -18.5% -44.7%
ORMP $112M 1.9 -50.4% 3202.5% 37.0% 0.65%
LENZ $502M -5.6 -430.2% -33.5%
NRXP
NTHI -2.6 -51.8%
CPIX $60M -20.9 17.6% -6.4% -11.9%
LLY 46.8 44.7% 31.7% 101.2%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 14
Annual Income Statement data for AARD
Metric Trend 2025
Revenue $0
R&D Expense $49M
SG&A Expense $14M
Operating Expenses $63M
Operating Income $-63M
Interest Income $5M
Other Non-op $5M
Income Tax $0
Net Income $-58M
EPS (Basic) $-2.93
EPS (Diluted) $-2.93
Shares (Basic) 19,624,626
Shares (Diluted) 19,624,626
EBITDA $-63M
Balance Sheet 18
Annual Balance Sheet data for AARD
Metric Trend 2025
Cash & Equivalents $47M
Short-term Investments $63M
Prepaid Expense $2M
Current Assets $112M
Other Non-current Assets $5M
Total Assets $117M
Accounts Payable $2M
Accrued Liabilities $8M
Current Liabilities $11M
Capital Leases $0
Other Non-current Liabilities $0
Total Liabilities $11M
Common Stock $0
Retained Earnings $-116M
AOCI $81.0K
Stockholders' Equity $107M
Liabilities + Equity $117M
Shares Outstanding 21,815,353
Cash Flow 10
Annual Cash Flow data for AARD
Metric Trend 2025
D&A $36.0K
Stock-based Comp $4M
Other Non-cash $-565.0K
Operating Cash Flow $-54M
CapEx $95.0K
Investing Cash Flow $-50M
Stock Issued $195.0K
Net Stock Activity $195.0K
Financing Cash Flow $89M
Free Cash Flow $-54M
Profitability 2
Annual Profitability data for AARD
Metric Trend 2025
ROA -59.2%
ROE -47.3%
Liquidity & Solvency 2
Annual Liquidity & Solvency data for AARD
Metric Trend 2025
Current Ratio 10.6
Quick Ratio 10.4
Efficiency 1
Annual Efficiency data for AARD
Metric Trend 2025
Asset Turnover 0.0
Per Share 5
Annual Per Share data for AARD
Metric Trend 2025
Book Value / Share $4.89
Revenue / Share $0.00
Cash Flow / Share $-2.76
Cash / Share $2.16
EPS (TTM) $-2.93
Valuation (TTM) 9
Annual Valuation (TTM) data for AARD
Metric Trend 2025
Revenue TTM $0
Net Income TTM $-58M
Market Cap $286M
P/E -4.5
P/B 2.7
P / Tangible Book 2.7
P / Cash Flow -5.3
P / FCF -5.3
Earnings Yield -22.3%

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-31
Revenue $0
Net Income $-58M$-21M
Diluted EPS $-2.93$-5.15
Balance Sheet
2025-12-312024-12-31
Current Ratio 10.6
Quick Ratio 10.4
Cash Flow
2025-12-312024-12-31
Free Cash Flow $-54M

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Institutional owners (13F) 80 filers · $51.2M total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
23 (-7 vs prior Q) 22 (+6 vs prior Q) 20 (+4 vs prior Q) 22 (+2 vs prior Q) +203K

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
Decheng Capital LLC $22,563,642 3,917,299 44.07% Shares
CITADEL ADVISORS LLC $7,155,516 1,242,277 13.98% Shares
Laurion Capital Management LP $5,958,484 1,034,459 11.64% Shares
VANGUARD CAPITAL MANAGEMENT LLC $3,242,172 562,877 6.33% Shares
EcoR1 Capital, LLC $2,282,077 396,194 4.46% Shares
ADAGE CAPITAL PARTNERS GP, L.L.C. $1,728,000 300,000 3.37% Shares
VANGUARD GROUP INC $1,092,643 83,249 2.13% Shares
GEODE CAPITAL MANAGEMENT, LLC $703,010 121,976 1.37% Shares
TWO SIGMA INVESTMENTS, LP $624,252 108,377 1.22% Shares
VANGUARD FIDUCIARY TRUST CO $432,991 75,172 0.85% Shares
Woodline Partners LP $417,191 72,429 0.81% Shares
MILLENNIUM MANAGEMENT LLC $402,900 69,948 0.79% Shares
CANTOR FITZGERALD, L. P. $384,088 66,682 0.75% Shares
TWO SIGMA ADVISERS, LP $343,875 26,200 0.67% Shares
STATE STREET CORP $341,412 59,273 0.67% Shares
CITADEL ADVISORS LLC $340,416 59,100 0.66% Put option
J. Goldman & Co LP $233,280 40,500 0.46% Shares
IEQ CAPITAL, LLC $221,080 38,382 0.43% Shares
UBS Group AG $179,205 31,112 0.35% Shares
NORTHERN TRUST CORP $161,482 28,035 0.32% Shares
CITIGROUP INC $151,482 26,299 0.30% Shares
Cresset Asset Management, LLC $138,430 24,033 0.27% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $138,384 24,025 0.27% Shares
BRIDGEWAY CAPITAL MANAGEMENT, LLC $138,240 24,000 0.27% Shares
JANE STREET GROUP, LLC $133,632 23,200 0.26% Put option
Point72 Asset Management, L.P. $131,743 22,872 0.26% Shares
MORGAN STANLEY $130,833 22,714 0.26% Shares
Mariner, LLC $125,408 21,784 0.24% Shares
SMITH, MOORE & CO. $115,200 20,000 0.22% Shares
XTX Topco Ltd $114,555 19,888 0.22% Shares
FMR LLC $108,887 18,904 0.21% Shares
SIMPLEX TRADING, LLC $91,681 15,917 0.18% Shares
EcoR1 Capital, LLC $84,672 14,700 0.17% Call option
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC $79,298 10,434 0.15% Shares
PRELUDE CAPITAL MANAGEMENT, LLC $71,574 12,426 0.14% Shares
GOLDMAN SACHS GROUP INC $70,508 12,241 0.14% Shares
JANE STREET GROUP, LLC $67,484 11,716 0.13% Shares
MERCER GLOBAL ADVISORS INC /ADV $66,033 11,464 0.13% Shares
Abel Hall, LLC $57,980 10,066 0.11% Shares
Arax Advisory Partners $48,234 8,374 0.09% Shares
Cerity Partners LLC $43,246 7,508 0.08% Shares
MARSHALL WACE, LLP $38,524 6,688 0.08% Shares
Vanguard Global Advisers, LLC $33,944 5,893 0.07% Shares
RAYMOND JAMES FINANCIAL INC $27,498 4,774 0.05% Shares
Steward Partners Investment Advisory, LLC $23,904 4,150 0.05% Shares
CWM, LLC $22,752 6,035 0.04% Shares
China Universal Asset Management Co., Ltd. $19,999 3,472 0.04% Shares
BlackRock, Inc. $15,696 2,725 0.03% Shares
Tower Research Capital LLC (TRC) $14,406 2,501 0.03% Shares
Integrated Wealth Concepts LLC $11,194 1,943 0.02% Shares
BARCLAYS PLC $9,072 1,575 0.02% Shares
JPMORGAN CHASE & CO $8,961 1,730 0.02% Shares
BNP PARIBAS FINANCIAL MARKETS $7,534 1,308 0.01% Shares
Russell Investments Group, Ltd. $7,137 1,239 0.01% Shares
Stone House Investment Management, LLC $5,760 1,000 0.01% Shares
Mirae Asset Global Investments Co., Ltd. $5,622 976 0.01% Shares
Allworth Financial LP $4,683 813 0.01% Shares
FEDERATED HERMES, INC. $3,721 646 0.01% Shares
Essential Partners LLC $2,932 509 0.01% Shares
GF FUND MANAGEMENT CO. LTD. $2,604 452 0.01% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $2,598 689 0.01% Shares
IFP Advisors, Inc $2,575 447 0.01% Shares
Hilton Head Capital Partners, LLC $2,500 434 0.00% Shares
GAMMA Investing LLC $2,235 388 0.00% Shares
PNC Financial Services Group, Inc. $2,010 349 0.00% Shares
ROTHSCHILD INVESTMENT LLC $1,526 265 0.00% Shares
EverSource Wealth Advisors, LLC $1,025 178 0.00% Shares
ROYAL BANK OF CANADA $1,000 150 0.00% Shares
True Wealth Design, LLC $934 162 0.00% Shares
Farther Finance Advisors, LLC $867 153 0.00% Shares
NISA INVESTMENT ADVISORS, LLC $403 70 0.00% Shares
Fortitude Family Office, LLC $323 56 0.00% Shares
HARBOUR INVESTMENTS, INC. $304 53 0.00% Shares
Wealth Enhancement Trust Services, Inc. $276 48 0.00% Shares
Clearstead Advisors, LLC $226 39 0.00% Shares
SJS Investment Consulting Inc. $93 16 0.00% Shares
Transamerica Financial Advisors, LLC $80 14 0.00% Shares
JPL Wealth Management, LLC $41 7 0.00% Shares
Sunbelt Securities, Inc. $15 4 0.00% Shares
AQR CAPITAL MANAGEMENT LLC $6 1 0.00% Shares

Company insiders 9 insiders · 4 officers · 5 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Tien-Li Lee Chief Executive Officer Feb. 9, 2026 A 1,551,613 6 0 $358,575
Nelson Sun Chief Financial Officer Feb. 9, 2026 A 108,484 2 0 $91,620
Bryan Jones Chief Operating Officer Oct. 15, 2025 M 1,250 0 0 $0
Manasi Jaiman Chief Medical Officer Feb. 9, 2026 A 0 0 $0
Victor Edward Tong Jr Director June 11, 2025 A 0 0 $0
Jeffrey Chi Director June 11, 2025 A 133,364 0 0 $0
Roy D. Baynes Director June 11, 2025 A 0 0 $0
Susan E Graf Director June 11, 2025 A 0 0 $0
Vickers Venture Fund VI Pte Ltd 10% owner Feb. 14, 2025 C 2,050,902 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 11 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
SBIO · ALPS ETF Trust 0.06% 22,439 NS May 31, 2026 N-PORT
IWC · iShares Trust 0.02% 42,615 SH Aug. 8, 2026 Daily
IBBQ · Invesco Exchange-Traded Fund Trust … 0.01% 1,175 SH Aug. 8, 2026 Daily
IBB · iShares Trust 0.01% 92,100 SH Aug. 8, 2026 Daily
BIB · ProShares Trust 0.00% 804 NS May 31, 2026 N-PORT
ITWO · ProShares Trust 0.00% 600 NS May 31, 2026 N-PORT
UWM · ProShares Trust 0.00% 469 NS May 31, 2026 N-PORT
URTY · ProShares Trust 0.00% 475 NS May 31, 2026 N-PORT
HDG · ProShares Trust 0.00% 12 NS May 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.00% 140,389 SH Aug. 8, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 408,670 SH Aug. 8, 2026 Daily