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

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 25,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $5.38, for a total transaction of $134,500.00. Following the sale, the chief executive officer now owns 1,150,385 shares in the company, valued at $6,189,071.30. This trade represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

Ardelyx Trading Down 0.4 %

NASDAQ ARDX opened at $5.67 on Friday. The firm’s fifty day moving average price is $5.78 and its 200 day moving average price is $6.06. Ardelyx, Inc. has a 12 month low of $4.34 and a 12 month high of $10.13. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -18.90 and a beta of 0.92.

Hedge Funds Weigh In On Ardelyx

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Ardelyx by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock valued at $97,761,000 after purchasing an additional 365,809 shares during the period. Clay Northam Wealth Management LLC lifted its stake in Ardelyx by 154.7% in the second quarter. Clay Northam Wealth Management LLC now owns 232,377 shares of the biopharmaceutical company’s stock valued at $1,722,000 after buying an additional 141,145 shares during the last quarter. Rubric Capital Management LP boosted its holdings in shares of Ardelyx by 68.5% in the third quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock valued at $21,085,000 after acquiring an additional 1,243,606 shares during the period. SG Americas Securities LLC grew its position in shares of Ardelyx by 283.2% during the second quarter. SG Americas Securities LLC now owns 91,672 shares of the biopharmaceutical company’s stock worth $679,000 after acquiring an additional 67,750 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Ardelyx by 142.8% in the 2nd quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock valued at $23,735,000 after acquiring an additional 1,883,995 shares during the period. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ARDX. Wedbush reiterated an “outperform” rating and issued a $11.00 price target on shares of Ardelyx in a research note on Friday, August 2nd. HC Wainwright cut shares of Ardelyx from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $11.00 to $5.50 in a research report on Monday, November 11th. Finally, Citigroup dropped their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.42.

About Ardelyx

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.