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

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 41,666 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $4.59, for a total transaction of $191,246.94. Following the completion of the transaction, the chief executive officer now directly owns 1,615,587 shares in the company, valued at approximately $7,415,544.33. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, March 7th, Michael Raab sold 41,668 shares of Ardelyx stock. The stock was sold at an average price of $5.36, for a total transaction of $223,340.48.
• On Thursday, February 20th, Michael Raab sold 22,964 shares of Ardelyx stock. The shares were sold at an average price of $5.62, for a total transaction of $129,057.68.
• 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.

Ardelyx Stock Down 2.7 %

Shares of ARDX opened at $4.33 on Wednesday. The stock’s 50-day moving average price is $5.29 and its two-hundred day moving average price is $5.43. Ardelyx, Inc. has a 12 month low of $4.15 and a 12 month high of $9.33. The company has a market capitalization of $1.03 billion, a PE ratio of -27.06 and a beta of 0.81. The company has a current ratio of 4.58, a quick ratio of 4.31 and a debt-to-equity ratio of 0.87.

Ardelyx (NASDAQ:ARDX) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. The business had revenue of $116.13 million for the quarter, compared to analysts’ expectations of $111.16 million. On average, analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ARDX shares. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $11.00 target price on shares of Ardelyx in a research report on Friday, March 7th. HC Wainwright reaffirmed a “neutral” rating and set a $5.50 price target on shares of Ardelyx in a report on Friday, February 21st. Raymond James reissued a “strong-buy” rating and issued a $13.00 price objective (down previously from $15.00) on shares of Ardelyx in a research note on Friday, February 21st. Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, Piper Sandler raised Ardelyx to a “hold” rating in a report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Ardelyx has a consensus rating of “Moderate Buy” and a consensus price target of $10.61.

Hedge Funds Weigh In On Ardelyx

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC grew its holdings in Ardelyx by 13.3% during the 4th quarter. Janus Henderson Group PLC now owns 24,387,941 shares of the biopharmaceutical company’s stock worth $123,587,000 after acquiring an additional 2,858,061 shares during the period. Two Seas Capital LP acquired a new stake in Ardelyx during the fourth quarter worth approximately $9,407,000. Rock Springs Capital Management LP bought a new stake in Ardelyx in the fourth quarter worth approximately $7,421,000. D. E. Shaw & Co. Inc. lifted its stake in Ardelyx by 9,499.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,468,668 shares of the biopharmaceutical company’s stock valued at $7,446,000 after buying an additional 1,453,369 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Ardelyx during the 4th quarter worth approximately $6,762,000. Institutional investors own 58.92% of the company’s stock.

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.