Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab Sells 41,666 Shares

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 41,666 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.36, for a total value of $223,329.76. Following the completion of the transaction, the chief executive officer now directly owns 1,108,719 shares in the company, valued at approximately $5,942,733.84. This trade represents a 3.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, January 7th, Michael Raab sold 41,666 shares of Ardelyx stock. The shares were 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 transaction of $134,500.00.
• On Wednesday, November 20th, Michael Raab sold 31,980 shares of Ardelyx stock. The stock was 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.

Ardelyx Stock Performance

Shares of ARDX stock opened at $5.36 on Friday. Ardelyx, Inc. has a 12 month low of $4.32 and a 12 month high of $10.13. The company’s fifty day simple moving average is $5.23 and its 200-day simple moving average is $5.64. The firm has a market cap of $1.27 billion, a PE ratio of -17.87 and a beta of 0.85. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64.

Institutional Investors Weigh In On Ardelyx

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARDX. Newbridge Financial Services Group Inc. acquired a new stake in shares of Ardelyx in the fourth quarter valued at about $35,000. KBC Group NV raised its stake in shares of Ardelyx by 101.8% during the 4th quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 6,915 shares in the last quarter. Helen Stephens Group LLC acquired a new stake in shares of Ardelyx in the 3rd quarter valued at approximately $76,000. CWM LLC grew its stake in shares of Ardelyx by 328.1% in the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 9,821 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Ardelyx during the fourth quarter worth $98,000. 58.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ARDX has been the subject of a number of research analyst reports. Citigroup decreased 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. Piper Sandler increased their target price on Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. HC Wainwright reaffirmed a “neutral” rating and issued a $5.50 price target on shares of Ardelyx in a research note on Thursday, January 16th. Finally, Jefferies Financial Group dropped their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ardelyx has an average rating of “Moderate Buy” and an average target price of $9.42.

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.