Aardvark Therapeutics, Inc.’s Quiet Period To End Tomorrow (NASDAQ:AARD)

Aardvark Therapeutics’ (NASDAQ:AARD) quiet period will expire on Tuesday, March 25th. Aardvark Therapeutics had issued 5,888,000 shares in its IPO on February 13th. The total size of the offering was $94,208,000 based on an initial share price of $16.00. During the company’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AARD shares. Bank of America assumed coverage on shares of Aardvark Therapeutics in a research note on Monday, March 10th. They issued a “buy” rating and a $22.00 price target on the stock. Morgan Stanley began coverage on shares of Aardvark Therapeutics in a research report on Monday, March 10th. They issued an “overweight” rating and a $29.00 price objective on the stock. Cantor Fitzgerald initiated coverage on Aardvark Therapeutics in a report on Monday, March 10th. They set an “overweight” rating and a $50.00 target price for the company. Finally, Royal Bank of Canada started coverage on Aardvark Therapeutics in a research note on Monday, March 10th. They issued an “outperform” rating and a $21.00 price target on the stock.

Aardvark Therapeutics Stock Up 8.0 %

NASDAQ AARD opened at $9.91 on Monday. Aardvark Therapeutics has a 12-month low of $8.60 and a 12-month high of $19.58.

Insider Buying and Selling at Aardvark Therapeutics

In other news, CEO Tien-Li Lee acquired 16,542 shares of the stock in a transaction dated Friday, February 14th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $264,672.00. Following the purchase, the chief executive officer now directly owns 1,496,175 shares of the company’s stock, valued at approximately $23,938,800. This trade represents a 1.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nelson Sun bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $160,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 99,484 shares in the company, valued at $1,591,744. The trade was a 11.18 % increase in their position. The disclosure for this purchase can be found here.

Aardvark Therapeutics Company Profile

We are a clinical-stage biopharmaceutical company focused on developing novel, small-molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases. We target biological pathways associated with alleviating hunger that we believe have the potential to deliver transformative outcomes for patients.