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

Aardvark Therapeutics’ (NASDAQ:AARD) quiet period will expire 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 the company’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. 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.

Analysts Set New Price Targets

AARD has been the topic of several research reports. Morgan Stanley initiated 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 report on Monday, March 10th. They set an “outperform” rating and a $21.00 price target on the stock. Bank of America initiated coverage on shares of Aardvark Therapeutics in a report on Monday, March 10th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of Aardvark Therapeutics in a report on Monday, March 10th. They set an “overweight” rating and a $50.00 price target on the stock.

Aardvark Therapeutics Stock Up 8.0 %

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

Insiders Place Their Bets

In other news, CEO Tien-Li Lee purchased 16,542 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $264,672.00. Following the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Nelson Sun purchased 10,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 99,484 shares in the company, valued at approximately $1,591,744. This trade represents a 11.18 % increase in their position. 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.