Aardvark Therapeutics (AARD) reported second-quarter 2026 financial results and provided updates on ARD-101, its investigational program for Prader-Willi Syndrome. The company said it is assessing unblinded data from the Phase 3 HERO trial and open-label extension in the third quarter of 2026.
The clinical-stage biopharmaceutical company reported a net loss of $14.4 million for the second quarter and said it had $73.9 million in cash, cash equivalents and short-term investments as of June 30, 2026, supporting projected operations into late 2027.
- Net loss was $14.4 million for Q2 2026, compared with $14.4 million for Q2 2025.
- Net loss per share was $0.66, basic and diluted, for the second quarter.
- R&D expenses were $10.5 million, compared with $13.1 million in the year-earlier quarter.
- G&A expenses were $4.6 million, compared with $2.7 million in Q2 2025.
- Cash position was $73.9 million as of June 30, 2026.
- Pipeline update Aardvark remains in discussions with the FDA regarding the clinical hold on the ARD-101 IND.
$AARD Hedge Fund Activity
We have seen 39 institutional investors add shares of $AARD stock to their portfolio, and 49 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. removed 605,526 shares (-76.4%) from their portfolio in Q2 2026, for an estimated $3,487,829
- MILLENNIUM MANAGEMENT LLC removed 385,006 shares (-79.7%) from their portfolio in Q1 2026, for an estimated $1,451,472
- TETRAGON PARTNERS GP LTD added 316,621 shares (+inf%) to their portfolio in Q1 2026, for an estimated $1,193,661
- SILVERARC CAPITAL MANAGEMENT, LLC removed 270,255 shares (-88.9%) from their portfolio in Q1 2026, for an estimated $1,018,861
- STATE STREET CORP removed 140,049 shares (-70.3%) from their portfolio in Q2 2026, for an estimated $806,682
- AQR CAPITAL MANAGEMENT LLC added 134,495 shares (+inf%) to their portfolio in Q1 2026, for an estimated $507,046
- UBS GROUP AG added 131,050 shares (+488.3%) to their portfolio in Q1 2026, for an estimated $494,058
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
