Morgan Stanley Begins Coverage on Aardvark Therapeutics (NASDAQ:AARD)

Morgan Stanley assumed coverage on shares of Aardvark Therapeutics (NASDAQ:AARD) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $29.00 target price on the stock.

Several other analysts have also weighed in on AARD. Cantor Fitzgerald began coverage on Aardvark Therapeutics in a report on Monday. They set an “overweight” rating and a $50.00 price objective on the stock. Bank of America began coverage on Aardvark Therapeutics in a report on Monday. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Royal Bank of Canada began coverage on Aardvark Therapeutics in a report on Monday. They set an “outperform” rating and a $21.00 price objective on the stock.

Aardvark Therapeutics Stock Down 2.7 %

AARD opened at $10.14 on Monday. Aardvark Therapeutics has a 12-month low of $9.21 and a 12-month high of $19.58.

Insider Buying and Selling

In related news, CEO Tien-Li Lee bought 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 transaction, the chief executive officer now directly owns 1,496,175 shares of the company’s stock, valued at $23,938,800. This represents a 1.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Nelson Sun acquired 10,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $16.00 per share, with a total value of $160,000.00. Following the transaction, the chief financial officer now owns 99,484 shares in the company, valued at approximately $1,591,744. The trade was a 11.18 % 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.