AARD Aardvark Therapeutics, Inc. Insider Trading

CEO Lee Tien-Li buys 7,000 shares at $14.48, extending strong AARD purchase pattern; stock +34.5% (30-day), +68.0% (90-day).

Lee Tien-Li acquired 7,000 shares at $14.48 on 2025-12-11, adding to a consecutive string of five prior purchases at Aardvark Therapeutics dating back to September 2025. His same-ticker history shows measurable outcomes on three of those earlier buys: 30-day returns of +91.2%, +107.9%, and +105.5%, with corresponding 90-day returns of +83.6%, +78.8%, and +73.0%. All three of these prior trades proved well-timed at the 90-day mark. The current purchase occurs as AARD trades at $14.43, within its 52-week range of $7.00–$17.41, and follows a 30-day surge of +34.5% and 90-day gain of +68.0%. While the company reports zero revenue in the latest quarter and a net loss of $-16,316,000, the repeated and consistent accumulation pattern across five calendar months paired with the measurable outperformance of three prior buys merits attention from investors evaluating management's conviction in the near-term trajectory.

CFO Sun Nelson buys 3,000 shares (3.0K) of AARD at $14.40; stock up 34.5% in 30 days but -17.1% from 52-week high

CFO Sun Nelson purchased 3,000 shares at $14.40 on 2025-12-11, increasing his holdings to 108,484 shares. The purchase occurs amid a +34.5% 30-day rally, though the stock remains -17.1% below its 52-week high. His prior trades at AARD show split outcomes: a September 2025 buy returned +105.5% over 90 days (well-timed), while a February 2025 buy returned -43.2% over the same window (poorly-timed), indicating inconsistent timing precision at this specific ticker. The company reported $0.00 in latest-quarter revenue and a $-16.3M net loss, placing this purchase in a pre-revenue biotech environment where fundamentals are immature. The timing—following a sharp 30-day recovery and mid-range relative to the 52-week band—lacks clear pattern alignment with his historical success rate on AARD.

CEO Lee Tien-Li bought 10,000 shares at $9.66 avg on 2025-09-15; stock down 40.5% from 52-week high, revenue zero, losses mounting.

Lee Tien-Li, CEO of Aardvark Therapeutics, purchased 10,000 shares in two separate transactions (6,500 at $9.51 and 3,500 at $9.94) on 2025-09-15 for a combined $96,623.60, bringing his holdings to 1,543,384 shares. The timing coincides with severe negative price momentum: the stock is -40.5% from its 52-week high of $17.25 and down 4.8% over 30 days and 15.1% over 90 days. Operationally, the company reported zero revenue in the latest quarter with a net loss of $14,367,000.00, a concerning profile for a biotech-stage firm. His cross-ticker track record shows 4 prior open-market buys averaging -37.4% return at 30 days and -43.2% at 90 days with a 0.00% win rate, suggesting his prior purchase timing decisions have not been favorable; at this same ticker, his February 2025 buy has already posted -43.2% 90-day returns. Investors should monitor whether this accumulation reflects access to non-public development data or simply persists the pattern of unfavorable entry points.

CEO Lee Tien-Li buys 20,000 shares in 3 tranches (20.0K shares) for $160.7K at avg $8.03, now -50.2% from 52-week high.

Lee Tien-Li, CEO of Aardvark Therapeutics, executed 3 separate purchases totaling 20,000 shares for $160,654.00 between September 10–12, 2025, at a blended average price of $8.03 per share. The stock now trades at $8.59, yet stands -50.2% from its 52-week high of $17.25 and has declined -23.3% over the past 30 days and -20.0% over 90 days. More concerning is the insider's prior purchase history at this ticker: a February 2025 buy at AARD delivered -37.4% after 30 days and -43.2% after 90 days, establishing a 0% win rate on same-ticker timing. Across all tickers, the insider's average 90-day return on prior buys is -43.2%. Against this backdrop, the company reported zero revenue in the latest quarter and a net loss of $14.4M, with a market cap of $186.4M, indicating material operational distress.

CFO Sun Nelson buys 6,000 AARD shares at $8.07; stock down -53.6% from 52-week high, CFO's prior buy at this ticker delivered -43.2% 90d return.

Sun Nelson, the CFO, purchased 6,000 shares of Aardvark Therapeutics at $8.07 on 2025-09-09, increasing his holdings to 105,484 shares. The stock is trading at $8.00 (current price), down -53.6% from its 52-week high of $17.25 and down -28.2% over the prior 30 days. Notably, Nelson's own prior buy at AARD on 2025-02-14 resulted in a -43.2% return over 90 days, and his cross-ticker track record shows 1 prior open-market buy with an average 90-day return of -43.2% and a 0.00% win rate. The company is pre-revenue ($0.00 in the latest quarter) with a net loss of $-14,367,000.00 and a market cap of $173,575,144.00. The CFO's purchase at depressed valuation relative to historical price, combined with the company's lack of revenue and his prior unsuccessful buy at this same ticker, presents a pattern investors should monitor closely.

CEO Lee Tien-Li bought 16,542 shares at $16.00 on 2025-02-14; 3 other insiders also bought within 14 days

CEO Lee Tien-Li purchased 16,542 shares for $264,672.00 four trading days before the current price of $14.90, representing a 1.1% increase to his post-transaction holdings of 1,496,175 shares. The transaction occurs in the context of a cluster pattern: 3 other insiders also bought within the past 14 days. This coordinated buying activity across multiple executives at a recently listed company (4 trading days post-IPO) warrants investor attention, though the stock has since traded below the CEO's entry price. Note that the Form 4 filing indicates a derivative-conversion transaction; the CEO's full position includes both Table I shares and derivative securities not yet populated in our database, so the reported 1,496,175 shares do not necessarily represent his total economic exposure.

CFO Sun Nelson buys 10,000 shares of AARD at $16.00 for $160,000.00; 3 other insiders buying within 14 days

Sun Nelson, Chief Financial Officer of Aardvark Therapeutics, purchased 10,000 shares at $16.00 on 2025-02-14, bringing his holdings to 99,484 shares and representing an 11.2% increase in his pre-transaction position. The transaction occurs within a cluster pattern: 3 other insiders have also bought within the past 14 days, suggesting coordinated or simultaneous confidence at the same price level by multiple executives. The stock is trading at $14.90 as of 2025-02-19 (4 trading days post-transaction), reflecting a 6.9% decline from the CFO's execution price, though 52-week metrics are not yet meaningful given the recent listing. This is a derivative-conversion transaction with derivative holdings noted in Form 4 Table II; the reported Table I position does not represent the insider's full holdings. The cluster buying pattern by multiple executives warrants investor attention as a signal of near-term insider positioning.

Cormorant Asset Management buys 187,500 AARD shares at $16.00; cluster pattern with 3 other insider buys in 14 days.

Cormorant Asset Management purchased 187,500 shares of Aardvark Therapeutics at $16.00 for a total value of $3,000,000.00, increasing its holdings by 23.4% to 987,689 shares. This transaction is part of a documented cluster in which 3 other insiders also bought within the past 14 days, suggesting synchronized confidence in the stock at a time when AARD is only 4 trading days into its public listing. The purchase was executed above the current market price of $14.90 as of 2025-02-19, indicating the insider was willing to commit capital in early trading. The derivative-conversion nature of this filing means the insider may hold additional derivative securities not yet visible in the database, so the Table I shares represent only a portion of the complete economic position.

Decheng Capital buys 1,250,000 shares in AARD for $20,000,000.00 (2 transactions at $16.00 blended avg) amid cluster buy pattern

Decheng Capital Global Life Sciences Fund IV, L.P., a 10% owner of Aardvark Therapeutics, executed 2 separate purchases totaling 1,250,000 shares for $20,000,000.00 at a blended average price of $16.00 on 2025-02-14. The transaction increases the fund's shareholding to 958,412 shares post-transaction, reflecting a net addition of 1,250,000 shares. This purchase coincides with a broader cluster of insider buying activity: 3 other insiders have also bought within the past 14 days. The stock is trading at $14.90 as of 2025-02-19 (4 trading days post-transaction), suggesting the current market price has moved below the transaction price. The derivative-conversion flag indicates this filer holds additional economic interests in Form 4 Table II not yet populated in the database, so the post-transaction tally of 958,412 shares does not represent the insider's full position.