Michael Raab Sells 22,964 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 22,964 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $5.62, for a total value of $129,057.68. Following the transaction, the chief executive officer now owns 1,085,755 shares of the company’s stock, valued at $6,101,943.10. This trade represents a 2.07 % decrease in their ownership of the stock. The sale 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 Friday, January 31st, Michael Raab sold 41,666 shares of Ardelyx stock. The stock was sold at an average price of $5.36, for a total value of $223,329.76.
• On Tuesday, January 7th, Michael Raab sold 41,666 shares of Ardelyx stock. The stock was sold at an average price of $5.31, for a total value of $221,246.46.
• On Tuesday, December 10th, Michael Raab sold 25,000 shares of Ardelyx stock. The stock was sold at an average price of $5.26, for a total value of $131,500.00.
• On Monday, November 25th, Michael Raab sold 25,000 shares of Ardelyx stock. The stock was sold at an average price of $5.38, for a total value of $134,500.00.

Ardelyx Trading Down 11.6 %

NASDAQ ARDX opened at $5.06 on Friday. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -31.59 and a beta of 0.85. Ardelyx, Inc. has a 52 week low of $4.32 and a 52 week high of $9.83. The business has a 50 day moving average price of $5.30 and a 200-day moving average price of $5.63. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $116.13 million during the quarter, compared to the consensus estimate of $111.16 million. Ardelyx had a negative return on equity of 25.74% and a negative net margin of 11.73%. As a group, equities analysts expect that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARDX has been the subject of a number of analyst reports. Cantor Fitzgerald upgraded Ardelyx to a “strong-buy” rating in a research report on Thursday, January 30th. Jefferies Financial Group lowered their target price on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Raymond James reiterated a “strong-buy” rating and issued a $13.00 target price (down from $15.00) on shares of Ardelyx in a report on Friday. Citigroup lowered 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, Piper Sandler lifted their target price on Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ardelyx currently has an average rating of “Moderate Buy” and a consensus price target of $9.93.

Institutional Investors Weigh In On Ardelyx

Several hedge funds and other institutional investors have recently modified their holdings of ARDX. Ensign Peak Advisors Inc boosted its position in shares of Ardelyx by 3.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 73,950 shares of the biopharmaceutical company’s stock valued at $375,000 after buying an additional 2,200 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Ardelyx by 3.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 90,000 shares of the biopharmaceutical company’s stock valued at $599,000 after buying an additional 3,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ardelyx by 2.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 154,625 shares of the biopharmaceutical company’s stock valued at $788,000 after buying an additional 3,550 shares during the last quarter. Swiss National Bank boosted its position in shares of Ardelyx by 1.0% during the fourth quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company’s stock valued at $2,348,000 after buying an additional 4,800 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Ardelyx by 42.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 4,933 shares during the last quarter. Institutional investors own 58.92% of the company’s stock.

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.