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

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 Aardvark Therapeutics’ quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end 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

A number of equities analysts have commented on AARD shares. 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. Royal Bank of Canada initiated coverage on shares of Aardvark Therapeutics in a report on Monday, March 10th. They issued an “outperform” rating and a $21.00 price objective for the company. Bank of America assumed coverage on shares of Aardvark Therapeutics in a report on Monday, March 10th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Morgan Stanley assumed coverage on shares of Aardvark Therapeutics in a report on Monday, March 10th. They set an “overweight” rating and a $29.00 price target for the company.

Aardvark Therapeutics Stock Performance

NASDAQ AARD opened at $9.59 on Thursday. Aardvark Therapeutics has a 52 week low of $8.66 and a 52 week high of $19.58.

Insiders Place Their Bets

In related news, CFO Nelson Sun acquired 10,000 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, for a total transaction of $160,000.00. Following the transaction, the chief financial officer now owns 99,484 shares of the company’s stock, valued at $1,591,744. This represents a 11.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tien-Li Lee purchased 16,542 shares of Aardvark Therapeutics stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,496,175 shares in the company, valued at $23,938,800. The trade was 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.