ADARx Pharmaceuticals (NASDAQ:ADRX) Raised to “Hold” at Wall Street Zen

ADARx Pharmaceuticals (NASDAQ:ADRX) was upgraded by analysts at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

ADARx Pharmaceuticals Stock Performance

ADRX opened at $18.25 on Friday. ADARx Pharmaceuticals has a twelve month low of $17.84 and a twelve month high of $23.21.

Insider Buying and Selling at ADARx Pharmaceuticals

In other news, Director Simeon George acquired 1,600,000 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The stock was acquired at an average cost of $17.00 per share, with a total value of $27,200,000.00. Following the acquisition, the director owned 5,554,094 shares in the company, valued at approximately $94,419,598. This represents a 40.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl L. Gordon bought 950,000 shares of the stock in a transaction that occurred on Monday, September 28th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $16,150,000.00. Following the completion of the purchase, the director directly owned 14,325,529 shares in the company, valued at $243,533,993. The trade was a 7.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 5,161,516 shares of company stock worth $87,745,772 in the last quarter.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing RNA-based medicines for immune-mediated and other serious diseases. The company is headquartered in San Diego, California, and uses proprietary technologies designed to modulate disease-related proteins at the RNA level.

ADARx’s pipeline includes investigational therapies intended to address conditions involving the complement system, coagulation pathways and other biologic mechanisms. Its programs are designed to provide targeted, durable treatment through approaches such as RNA interference and related forms of RNA-based therapeutic intervention.

Founded in 2018, ADARx has advanced its drug candidates through preclinical and clinical development and has pursued regulatory and clinical activities in the United States and other international markets.