Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $13,440.70 in Stock

Ardelyx, Inc. (NASDAQ:ARDXGet Free Report) CEO Michael Raab sold 2,743 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $4.90, for a total transaction of $13,440.70. Following the sale, the chief executive officer now owns 1,207,365 shares in the company, valued at approximately $5,916,088.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

  • 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 shares were 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 stock was 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 shares were sold at an average price of $5.61, for a total transaction of $196,350.00.
  • On Tuesday, August 27th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $6.22, for a total transaction of $46,650.00.
  • On Tuesday, August 20th, Michael Raab sold 32,225 shares of Ardelyx stock. The stock was sold at an average price of $5.86, for a total transaction of $188,838.50.

Ardelyx Stock Down 6.2 %

Shares of ARDX traded down $0.30 during trading on Tuesday, reaching $4.59. The company’s stock had a trading volume of 6,130,715 shares, compared to its average volume of 4,952,909. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -16.32 and a beta of 0.92. Ardelyx, Inc. has a twelve month low of $3.49 and a twelve month high of $10.13. The company has a fifty day moving average of $6.01 and a two-hundred day moving average of $6.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Redmile Group LLC acquired a new stake in shares of Ardelyx in the 1st quarter valued at $16,020,000. Millennium Management LLC grew its position in Ardelyx by 142.8% during the 2nd quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock worth $23,735,000 after acquiring an additional 1,883,995 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Ardelyx by 68.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,913,863 shares of the biopharmaceutical company’s stock worth $28,572,000 after purchasing an additional 1,584,597 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Ardelyx by 2.8% during the first quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock worth $97,761,000 after purchasing an additional 365,809 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of Ardelyx by 375.9% in the second quarter. Squarepoint Ops LLC now owns 460,689 shares of the biopharmaceutical company’s stock valued at $3,414,000 after buying an additional 363,894 shares in the last quarter. Institutional investors own 58.92% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ARDX shares. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Ardelyx in a research note on Friday, August 2nd. HC Wainwright cut Ardelyx from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $11.00 to $5.50 in a report on Monday. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, Citigroup lowered their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Three equities research 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

Check Out Our Latest Stock Report on ARDX

About Ardelyx

(Get Free Report)

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.

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