Aardvark Therapeutics, Inc.’s (NASDAQ:AARD) Quiet Period Will Expire 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 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 any underwriters that worked on the IPO are prevented 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, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Cantor Fitzgerald initiated coverage on Aardvark Therapeutics in a research report on Monday, March 10th. They set an “overweight” rating and a $50.00 target price on the stock. 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. Morgan Stanley assumed coverage on shares of Aardvark Therapeutics in a research note on Monday, March 10th. They set an “overweight” rating and a $29.00 price target on the stock. Finally, Royal Bank of Canada initiated coverage on shares of Aardvark Therapeutics in a research note on Monday, March 10th. They set an “outperform” rating and a $21.00 price objective for the company.

Aardvark Therapeutics Trading Down 7.5 %

NASDAQ AARD opened at $9.26 on Tuesday. Aardvark Therapeutics has a one year low of $9.21 and a one year high of $19.58.

Insider Activity

In other news, CFO Nelson Sun acquired 10,000 shares of the stock in a transaction on Friday, February 14th. The stock was bought at an average price of $16.00 per share, with a total value of $160,000.00. Following the completion of the transaction, the chief financial officer now directly owns 99,484 shares of the company’s stock, valued at $1,591,744. The trade was a 11.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Tien-Li Lee acquired 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 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 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.