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

Aardvark Therapeutics’ (NASDAQ:AARD) quiet period is set to 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, underwriters and any insiders involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analysts Forecast Growth

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

Aardvark Therapeutics Stock Up 8.0 %

Shares of AARD stock 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 Activity at Aardvark Therapeutics

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

About Aardvark Therapeutics

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.