Aardvark Therapeutics, Inc.’s (NASDAQ:AARD) Quiet Period Will Expire 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 IPO 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 any underwriters that worked on the IPO are restricted from issuing any research reports 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.

Wall Street Analyst Weigh In

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

Aardvark Therapeutics Trading Up 1.8 %

Shares of AARD stock opened at $9.59 on Thursday. Aardvark Therapeutics has a 1-year low of $8.66 and a 1-year high of $19.58.

Insider Transactions at Aardvark Therapeutics

In other Aardvark Therapeutics news, CFO Nelson Sun purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were purchased 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 of the company’s stock, valued at approximately $1,591,744. This represents a 11.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tien-Li Lee purchased 16,542 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $16.00 per share, for a total transaction of $264,672.00. Following 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 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.