What is AARD's dilution risk score?

AARD has a latest available DilutionScore record of 41/100, categorized as medium dilution risk by the DilutionWatch scoring model. DilutionWatch displays SEC filing and dilution indicators for AARD, including shelf registrations, ATM offerings, warrant exercises, PIPE deals, and reverse split signals when detected in source data.

What SEC filings does DilutionWatch track for AARD?

DilutionWatch tracks 25 SEC filing types for AARD including S-3 shelf registrations, 424B prospectuses (ATM offerings), S-1 registration statements, 8-K material events, warrant exercise notices, convertible note agreements, and Form 4 insider transactions. Alerts are delivered via email within minutes of a filing appearing on EDGAR.

How does stock dilution affect AARD shareholders?

Stock dilution occurs when a company issues new shares, reducing the ownership percentage of existing shareholders. For AARD, common dilution events include at-the-market (ATM) stock offerings, shelf registration drawdowns, warrant exercises, and convertible note conversions. Each event increases the share count and can pressure the stock price lower.

Is DilutionWatch free for AARD tracking?

DilutionWatch provides a free tier that shows DilutionScores and basic filing history for AARD. Premium plans ($19.95/month Basic, $39.95/month Premium) unlock real-time email alerts, the full Pulse™ feed, advanced dilution forecasts, and access to all 10,000+ tracked tickers.

AARD Dilution Risk Score: 41/100 (MEDIUM)

Score Breakdown

📋 Offering Ability

💰 Cash Runway

📊 Float Risk

⚠️ Warrant Exposure

🔄 Convertible Debt

Dilution Forecast

☀️

Clear

No significant dilution signals

model est. 0%

No significant dilution signals detected for AARD.

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Market Data

Market Cap$97.39M

Shares Outstanding21.88M

Float10.91M

Cash$73.87M

Debt$336.0K

Short InterestN/A

Source-Backed Evidence Depth

This public preview uses stored DilutionWatch fields and linked SEC/market records only. Missing values are not estimated.

Field	Current Value	Basis
DilutionScore	41/100	DilutionWatch score record
Shares Outstanding	21.88M	Verified float table or market cache
Public Float	10.91M	Verified float table or market cache
Market Cap	$97.39M	Market data cache
Cash Runway	12.2 months	DilutionWatch score inputs
Shelf Capacity	None in current score inputs	SEC-derived dilution fields
ATM Capacity	None in current score inputs	SEC-derived dilution fields
Outstanding Warrants	None in current score inputs	SEC-derived dilution fields

Recent source-backed SEC insight records available on this page: 1.

Recent SEC source mix: XBRL 1.

The page does not infer future share issuance, financing probability, cash needs, management intent, or price impact when source fields are absent.

Institutional Holdings

QoQ: ↓ 8.5% shares (2026Q1 vs prior)

80 institutional holders · 11.14M shares

#1 Decheng Capital LLC 3.92M shares

#2 CITADEL ADVISORS LLC 1.30M shares

#3 VANGUARD CAPITAL MANAGEMENT LLC 1.11M shares

+ 17 more holders Sign up free to view →

Institutional holder totals are aggregated from ownership filings and may use a different share basis or reporting date than public float. They are not a reconciliation against tradeable float.

Short Interest

Short Interest474.1K

Days to Cover5.3

% of Float4.3%

FINRA data as of Sep 30, 2026

Recent SEC Activity

xbrl XBRL CONVERTIBLE 2026-03-23

Full SEC filing analysis available with free account →

Recent News

No recent news available for this ticker.

Factual AARD Dilution Snapshot

Aardvark Therapeutics, Inc. (AARD) has a DilutionScore of 41/100, rated Medium dilution risk. Score date: October 13, 2026.

Recent SEC activity tracked for AARD: xbrl on 2026-03-23.

This automatically generated snapshot is assembled from stored DilutionWatch data fields and may contain data-source errors or omissions. It is not financial advice, not investment research, and not a recommendation. Do your own research and review the full disclaimer and terms of service.

DilutionScore History — Last 90 Days

AARD's DilutionScore is currently 41/100 (Medium risk), with 1 score change tracked over 89 days. The score improved from 36/100 (Medium risk).

Period	Score	Risk Level	Duration
Aug 22 – Oct 13, 2026	41/100	MEDIUM	53 days
Jul 16 – Aug 21, 2026	36/100	MEDIUM	36 days

Score recalculated daily from SEC filings and market data. Sign up free for real-time score change alerts.

Share Dilution History

AARD shares outstanding have increased 0.0% from 21.82M (Mar 2026) to 21.82M (May 2026). Each increase represents potential dilution to existing shareholders.

Date	Shares Outstanding	Public Float	Change
May 18, 2026	21.82M	10.91M	▲ 0.43%
Apr 07, 2026	21.82M	10.86M	▼ 3.15%
Mar 27, 2026	21.82M	11.22M	▲ 0.19%
Mar 25, 2026	21.82M	11.20M	▲ 0.20%

Share counts sourced from verified regulatory filings. Increases indicate dilution events.

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