Aardvark Therapeutics, Inc.’s (NASDAQ:AARD) Quiet Period Will End on March 25th

Aardvark Therapeutics’ (NASDAQ:AARD) quiet period is set to end on Tuesday, March 25th. Aardvark Therapeutics had issued 5,888,000 shares in its initial public offering on February 13th. The total size of the offering was $94,208,000 based on an initial share price of $16.00. During Aardvark Therapeutics’ quiet period, insiders and underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration 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.

Analyst Ratings Changes

AARD has been the topic of a number of research reports. Royal Bank of Canada assumed coverage on shares of Aardvark Therapeutics in a research report on Monday, March 10th. They set an “outperform” rating and a $21.00 target price on the stock. 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 price target for the company. Morgan Stanley initiated coverage on shares of Aardvark Therapeutics in a report on Monday, March 10th. They issued an “overweight” rating and a $29.00 target price for the company. Finally, Bank of America initiated coverage on shares of Aardvark Therapeutics in a report on Monday, March 10th. They issued a “buy” rating and a $22.00 target price for the company.

Aardvark Therapeutics Price Performance

NASDAQ AARD opened at $9.91 on Friday. Aardvark Therapeutics has a 52-week low of $8.60 and a 52-week high of $19.58.

Insider Buying and Selling

In other Aardvark Therapeutics news, CFO Nelson Sun bought 10,000 shares of Aardvark Therapeutics stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $160,000.00. Following the completion of the purchase, the chief financial officer now directly owns 99,484 shares of the company’s stock, valued at approximately $1,591,744. This trade represents a 11.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Tien-Li Lee bought 16,542 shares of Aardvark Therapeutics stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $16.00 per share, with a total value 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 represents a 1.12 % increase in their ownership of the stock. 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.