Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab Sells 25,000 Shares

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 25,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $5.26, for a total transaction of $131,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,150,385 shares in the company, valued at $6,051,025.10. This trade represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, November 25th, Michael Raab sold 25,000 shares of Ardelyx stock. The shares were sold at an average price of $5.38, for a total value 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.
• On Monday, October 28th, Michael Raab sold 25,000 shares of Ardelyx stock. The shares were 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 transaction of $18,210.00.

Ardelyx Trading Down 1.5 %

NASDAQ:ARDX traded down $0.08 during trading hours on Thursday, reaching $5.24. The company’s stock had a trading volume of 2,889,376 shares, compared to its average volume of 4,880,931. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -17.80 and a beta of 0.83. The firm has a 50-day simple moving average of $5.63 and a 200-day simple moving average of $5.93. Ardelyx, Inc. has a 1 year low of $4.34 and a 1 year high of $10.13.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. HC Wainwright cut Ardelyx from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $11.00 to $5.50 in a research report on Monday, November 11th. Citigroup dropped their price target on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Three investment 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

Hedge Funds Weigh In On Ardelyx

A number of large investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its holdings in shares of Ardelyx by 1,026.3% during 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 period. Redwood Wealth Management Group LLC bought a new stake in shares of Ardelyx in the 2nd quarter worth approximately $62,000. Coastal Bridge Advisors LLC purchased a new position in shares of Ardelyx during the second quarter valued at approximately $74,000. Helen Stephens Group LLC bought a new position in shares of Ardelyx during the third quarter valued at approximately $76,000. Finally, CWM LLC lifted its stake in Ardelyx by 328.1% in the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 9,821 shares during the period. 58.92% of the stock is owned by hedge funds and other institutional investors.

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.