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

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 25,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.38, for a total value of $134,500.00. Following the sale, the chief executive officer now owns 1,150,385 shares of the company’s stock, valued at approximately $6,189,071.30. This represents a 2.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 value 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 transaction 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 transaction 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.
• On Wednesday, September 11th, Michael Raab sold 35,000 shares of Ardelyx stock. The stock was sold at an average price of $5.61, for a total value of $196,350.00.

Ardelyx Stock Performance

Shares of Ardelyx stock traded up $0.34 during trading on Wednesday, hitting $5.69. 3,878,678 shares of the company’s stock were exchanged, compared to its average volume of 4,948,699. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -18.97 and a beta of 0.92. The business has a 50-day simple moving average of $5.80 and a 200-day simple moving average of $6.08. Ardelyx, Inc. has a 52-week low of $4.06 and a 52-week high of $10.13. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03.

Hedge Funds Weigh In On Ardelyx

Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its stake in shares of Ardelyx by 1,026.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 3,233 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in Ardelyx in the second quarter valued at approximately $62,000. Coastal Bridge Advisors LLC purchased a new stake in Ardelyx in the 2nd quarter worth approximately $74,000. Helen Stephens Group LLC acquired a new stake in shares of Ardelyx during the 3rd quarter worth approximately $76,000. Finally, CWM LLC increased its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Analysts Set New Price Targets

ARDX has been the topic of a number of research analyst reports. StockNews.com upgraded Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Citigroup cut their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Ardelyx in a research note on Friday, August 2nd. Finally, HC Wainwright downgraded Ardelyx from a “buy” rating to a “neutral” rating and cut their target price for the company from $11.00 to $5.50 in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.42.

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.