Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $134,500.00 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $5.38, for a total value of $134,500.00. Following the sale, the chief executive officer now directly owns 1,150,385 shares of the company’s stock, valued at approximately $6,189,071.30. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Michael Raab also recently made the following trade(s):

• On Wednesday, November 20th, Michael Raab sold 31,980 shares of Ardelyx stock. The shares were sold at an average price of $4.79, for a total value of $153,184.20.
• On Monday, November 11th, Michael Raab sold 2,743 shares of Ardelyx stock. The stock was sold at an average price of $4.90, for a total value of $13,440.70.
• On Monday, October 28th, Michael Raab sold 25,000 shares of Ardelyx stock. The shares were sold at an average price of $5.91, for a total transaction of $147,750.00.
• On Friday, October 11th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $6.01, for a total transaction of $45,075.00.
• On Thursday, September 26th, Michael Raab sold 3,000 shares of Ardelyx stock. The stock was sold at an average price of $6.07, for a total transaction of $18,210.00.
• On Wednesday, September 11th, Michael Raab sold 35,000 shares of Ardelyx stock. The shares were sold at an average price of $5.61, for a total value of $196,350.00.

Ardelyx Stock Performance

Shares of ARDX stock opened at $5.67 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The stock has a market cap of $1.34 billion, a PE ratio of -18.90 and a beta of 0.92. Ardelyx, Inc. has a 1 year low of $4.34 and a 1 year high of $10.13. The stock has a fifty day moving average price of $5.78 and a 200 day moving average price of $6.06.

Institutional Investors Weigh In On Ardelyx

Several institutional investors and hedge funds have recently made changes to their positions in ARDX. Nisa Investment Advisors LLC raised its position in Ardelyx by 1,026.3% during the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 3,233 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of Ardelyx during the 2nd quarter worth approximately $62,000. Coastal Bridge Advisors LLC purchased a new stake in Ardelyx in the 2nd quarter valued at approximately $74,000. Helen Stephens Group LLC acquired a new stake in Ardelyx during the 3rd quarter valued at $76,000. Finally, CWM LLC increased its position in Ardelyx by 328.1% during the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 9,821 shares in the last quarter. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. HC Wainwright cut Ardelyx from a “buy” rating to a “neutral” rating and reduced their price target for the company from $11.00 to $5.50 in a report on Monday, November 11th. Citigroup reduced their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Wedbush restated an “outperform” rating and set a $11.00 target price on shares of Ardelyx in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.42.

Ardelyx Company Profile

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company’s lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.