The Reds had a £400,000 bid accepted for the 16-goal striker last night and the 22-year-old travelled to Oakwell but he and his representatives have not agreed a deal.
Davey will now move on to other targets, one of which thought to be Carlisle striker Danny Graham.
Davey admitted that in the end both parties were too far apart to continue discussions, with Ward wanting parity with the top earners at Oakwell.