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

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $5.26, for a total transaction of $131,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,150,385 shares in the company, valued at $6,051,025.10. This represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 stock was 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 stock was 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 shares were sold at an average price of $6.07, for a total value of $18,210.00.

Ardelyx Price Performance

Shares of Ardelyx stock opened at $5.22 on Friday. The stock has a market capitalization of $1.24 billion, a P/E ratio of -17.40 and a beta of 0.83. Ardelyx, Inc. has a one year low of $4.34 and a one year high of $10.13. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The business’s 50 day simple moving average is $5.60 and its two-hundred day simple moving average is $5.92.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARDX. HC Wainwright cut shares of Ardelyx from a “buy” rating to a “neutral” rating and reduced their price target for the company from $11.00 to $5.50 in a research report on Monday, November 11th. Citigroup reduced their target price on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Ardelyx presently has an average rating of “Moderate Buy” and a consensus target price of $10.42.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ARDX. Nisa Investment Advisors LLC boosted its position in Ardelyx by 1,026.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 3,233 shares during the period. Redwood Wealth Management Group LLC bought a new position in shares of Ardelyx during the second quarter valued at about $62,000. Coastal Bridge Advisors LLC purchased a new stake in shares of Ardelyx during the second quarter worth about $74,000. Helen Stephens Group LLC bought a new stake in shares of Ardelyx in the third quarter worth about $76,000. Finally, CWM LLC increased its holdings in Ardelyx by 328.1% during the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing 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.