What is the 13F Pro Quality Score for AARD?

13F Pro ranks Aardvark Therapeutics, Inc. (AARD) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View AARD's current score at https://13fpro.ai/research/AARD (free sign-up required for the full ranking).

Which hedge funds own the most AARD stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of AARD include Decheng Capital, CITADEL ADVISORS, Laurion Capital Management. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/AARD as soon as new 13F filings post.

Where does 13F Pro source AARD data?

All Aardvark Therapeutics, Inc. fundamentals and ownership data come directly from SEC EDGAR. Aardvark Therapeutics, Inc. files with the SEC under CIK 1774857. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is AARD in?

Aardvark Therapeutics, Inc. (AARD) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is AARD research updated on 13F Pro?

AARD's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Aardvark Therapeutics, Inc.(AARD)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Below size threshold

Quality rankings require at least $50M annual revenue or $250M total assets to filter out micro-caps and shell companies. This company reported $0.0M in revenue.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

AARD Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Aardvark Therapeutics, Inc. (AARD), a Healthcare sector company. AARD is not currently included in 13F Pro's AI-ranked quality universe — quality rankings require at least $50m annual revenue or $250m total assets to filter out micro-caps and shell companies. this company reported $0.0m in revenue. Based on the latest XBRL financial filings (Q1 2026), Aardvark Therapeutics, Inc. reports net income of $-21.6M, free cash flow of $-18.9M. Top institutional holders of AARD by reported 13-F value include Decheng Capital, CITADEL ADVISORS, Laurion Capital Management, based on the most recent SEC filings. AARD trades on the Nasdaq exchange and files with the SEC under CIK 1774857. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate AARD daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Aardvark Therapeutics, Inc. directly from SEC EDGAR.

Revenue

Q1 2026

$0.00

Net Income

Q1 2026

$-21.6M

Free Cash Flow

Q1 2026

$-18.9M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

$0.00FY 2025

FY23 —FY24 —FY25 $0.00

Net Income

-179.7% YoY

$-57.6MFY 2025

FY23 —FY24 $-20.6MFY25 $-57.6M

Operating Income

-175.3% YoY

$-62.7MFY 2025

FY23 —FY24 $-22.8MFY25 $-62.7M

EPS (Diluted)

+43.1% YoY

$-2.93FY 2025

FY23 —FY24 $-5.15FY25 $-2.93

Total Assets

+51.2% YoY

$117.2MFY 2025

FY23 —FY24 $77.5MFY25 $117.2M

Op. Cash Flow

-199.5% YoY

$-54.2MFY 2025

FY23 —FY24 $-18.1MFY25 $-54.2M

Metric	FY 2025	FY 2024	FY 2023
Revenue	$0.00	—	—
Net Income	$-57.6M -179.7%	$-20.6M	—
Operating Income	$-62.7M -175.3%	$-22.8M	—
EPS (Diluted)	$-2.93 +43.1%	$-5.15	—
Total Assets	$117.2M +51.2%	$77.5M	—
Operating Cash Flow	$-54.2M -199.5%	$-18.1M	—

AI Insight: AARD Financial Trends

Aardvark Therapeutics is burning cash at an accelerating pace, with quarterly operating cash outflow nearly doubling from $11M in Q1 2025 to $19M in Q1 2026 while equity erodes toward $87M.

• Operating cash burn accelerated from -$11M in Q1 2025 to -$19M in Q1 2026, a 73% increase in five quarters.

• Equity has declined steadily from $151M in Q1 2025 to $87M in Q1 2026, a $64M reduction over five quarters.

• Operating losses widened from -$10M in Q1 2025 to -$22M in Q1 2026, with no revenue offset across all periods.

⚠ At Q1 2026's $19M quarterly cash burn rate, the $87M equity base implies roughly four quarters of runway without new financing.

⚠ No debt reported across all periods — any capital raise via debt would introduce new leverage risk to monitor.

AI Insight: AARD Ratio Trends

Aardvark's return metrics are deteriorating sharply every quarter, with ROE plunging from -24.7% in Q1 2025 to -99.3% in Q1 2026 — a near-total erosion of equity returns.

• ROE worsened from -24.7% in Q1 2025 to -99.3% in Q1 2026, deteriorating in every sequential quarter without exception.

• ROA declined from -23.7% in Q1 2025 to -87.6% in Q1 2026, signaling rapidly expanding asset-level losses.

• ROIC fell from -27.8% in Q1 2025 to -70.2% in Q4 2025; Q1 2026 ROIC is unavailable, obscuring the latest capital efficiency picture.

⚠ OpMargin, NPM, and D/E are absent across all periods — critical gaps that prevent assessing operational efficiency or leverage risk.

⚠ TTM ROE of -80.3% versus Q1 2026 annualized ROE of -99.3% suggests losses are accelerating beyond the trailing-year average.

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Available Research

13F Pro tracks comprehensive data for Aardvark Therapeutics, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of AARD

Decheng Capital LLC
$14.8M3,917,299 sh
CITADEL ADVISORS LLC
$4.7M1,242,777 sh
Laurion Capital Management LP
$3.9M1,034,459 sh
BlackRock, Inc.
$3.0M792,571 sh
VANGUARD CAPITAL MANAGEMENT LLC
$2.1M554,101 sh
TFG Asset Management GP Ltd
$1.2M316,621 sh
GEODE CAPITAL MANAGEMENT, LLC
$1.2M309,449 sh
ADAGE CAPITAL PARTNERS GP, L.L.C.
$1.1M300,000 sh
STATE STREET CORP
$751.4K199,322 sh
TWO SIGMA INVESTMENTS, LP
$615.8K163,355 sh

Fund	Value	Shares
Decheng Capital LLC	$14.8M	3,917,299
CITADEL ADVISORS LLC	$4.7M	1,242,777
Laurion Capital Management LP	$3.9M	1,034,459
BlackRock, Inc.	$3.0M	792,571
VANGUARD CAPITAL MANAGEMENT LLC	$2.1M	554,101
TFG Asset Management GP Ltd	$1.2M	316,621
GEODE CAPITAL MANAGEMENT, LLC	$1.2M	309,449
ADAGE CAPITAL PARTNERS GP, L.L.C.	$1.1M	300,000
STATE STREET CORP	$751.4K	199,322
TWO SIGMA INVESTMENTS, LP	$615.8K	163,355

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Is AARD a good stock to buy?

13F Pro's AI-powered analysis of Aardvark Therapeutics, Inc. (AARD) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for AARD are available on the AARD stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own AARD?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling AARD. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Aardvark Therapeutics, Inc.'s investment landscape.