Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells 7,500 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 7,500 shares of Ardelyx stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $6.01, for a total value of $45,075.00. Following the transaction, the chief executive officer now directly owns 1,210,108 shares in the company, valued at approximately $7,272,749.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 value of $196,350.00.
• On Tuesday, August 27th, Michael Raab sold 7,500 shares of Ardelyx stock. The shares were sold at an average price of $6.22, for a total value of $46,650.00.
• On Tuesday, August 20th, Michael Raab sold 32,225 shares of Ardelyx stock. The shares were sold at an average price of $5.86, for a total value of $188,838.50.
• On Monday, August 12th, Michael Raab sold 1,229 shares of Ardelyx stock. The shares were sold at an average price of $5.71, for a total value of $7,017.59.
• On Monday, July 29th, Michael Raab sold 30,000 shares of Ardelyx stock. The shares were sold at an average price of $5.64, for a total value of $169,200.00.

Ardelyx Stock Down 0.3 %

Shares of Ardelyx stock traded down $0.02 during midday trading on Tuesday, hitting $5.97. The company had a trading volume of 2,031,811 shares, compared to its average volume of 4,961,133. The company has a 50 day moving average of $6.09 and a 200 day moving average of $6.45. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.99 and a current ratio of 4.21. Ardelyx, Inc. has a 52-week low of $3.33 and a 52-week high of $10.13. The stock has a market capitalization of $1.39 billion, a P/E ratio of -21.39 and a beta of 0.90.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The firm had revenue of $73.20 million for the quarter, compared to the consensus estimate of $55.03 million. Ardelyx had a negative return on equity of 39.73% and a negative net margin of 31.02%. The company’s revenue for the quarter was up 228.3% on a year-over-year basis. During the same period last year, the business posted ($0.08) EPS. On average, equities analysts predict that Ardelyx, Inc. will post -0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on ARDX. Citigroup boosted their target price on Ardelyx from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. StockNews.com upgraded Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Piper Sandler cut Ardelyx from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $7.00 in a report on Tuesday, July 2nd. Cantor Fitzgerald restated an “overweight” rating on shares of Ardelyx in a report on Thursday, June 20th. Finally, HC Wainwright upped their price target on Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ardelyx presently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

Institutional Investors Weigh In On Ardelyx

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its holdings in shares of Ardelyx by 1,026.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 3,233 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of Ardelyx during the second quarter valued at approximately $62,000. Coastal Bridge Advisors LLC bought a new stake in shares of Ardelyx during the second quarter valued at approximately $74,000. Helen Stephens Group LLC bought a new stake in shares of Ardelyx during the third quarter valued at approximately $76,000. Finally, Paloma Partners Management Co bought a new stake in shares of Ardelyx during the first quarter valued at approximately $86,000. 58.92% of the stock is owned by institutional investors.

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.