Ardelyx, Inc. (NASDAQ:ARDX – Get Free Report) CEO Michael Raab sold 3,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $6.07, for a total value of $18,210.00. Following the completion of the transaction, the chief executive officer now directly owns 1,217,608 shares in the company, valued at approximately $7,390,880.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Michael Raab also recently made the following trade(s):
- On Wednesday, September 11th, Michael Raab sold 35,000 shares of Ardelyx stock. The shares were sold at an average price of $5.61, for a total transaction of $196,350.00.
- On Tuesday, August 27th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $6.22, for a total value of $46,650.00.
- On Tuesday, August 20th, Michael Raab sold 32,225 shares of Ardelyx stock. The stock was sold at an average price of $5.86, for a total transaction of $188,838.50.
- On Monday, August 12th, Michael Raab sold 1,229 shares of Ardelyx stock. The stock was sold at an average price of $5.71, for a total transaction of $7,017.59.
- On Monday, July 29th, Michael Raab sold 30,000 shares of Ardelyx stock. The shares were sold at an average price of $5.64, for a total value of $169,200.00.
- On Monday, July 15th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $5.97, for a total value of $44,775.00.
Ardelyx Stock Performance
Shares of ARDX opened at $6.65 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.99 and a current ratio of 4.21. The stock has a 50-day moving average of $5.93 and a two-hundred day moving average of $6.57. The stock has a market cap of $1.55 billion, a P/E ratio of -23.75 and a beta of 0.90. Ardelyx, Inc. has a one year low of $3.16 and a one year high of $10.13.
Analyst Upgrades and Downgrades
ARDX has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ardelyx in a report on Thursday, June 20th. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Ardelyx in a research note on Friday, August 2nd. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. HC Wainwright boosted their target price on Ardelyx from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Citigroup upped their target price on Ardelyx from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.67.
Read Our Latest Report on Ardelyx
Institutional Trading of Ardelyx
Several large investors have recently made changes to their positions in the business. Rubric Capital Management LP raised its holdings in shares of Ardelyx by 60.5% during the fourth quarter. Rubric Capital Management LP now owns 4,012,753 shares of the biopharmaceutical company’s stock worth $24,879,000 after purchasing an additional 1,512,753 shares during the last quarter. Vanguard Group Inc. raised its position in Ardelyx by 2.8% during the first quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock valued at $97,761,000 after acquiring an additional 365,809 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Ardelyx by 37.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 438,827 shares of the biopharmaceutical company’s stock valued at $3,203,000 after acquiring an additional 118,879 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Ardelyx by 9.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,816,732 shares of the biopharmaceutical company’s stock worth $11,264,000 after purchasing an additional 150,465 shares in the last quarter. Finally, Clay Northam Wealth Management LLC grew its stake in shares of Ardelyx by 154.7% during the 2nd quarter. Clay Northam Wealth Management LLC now owns 232,377 shares of the biopharmaceutical company’s stock worth $1,722,000 after purchasing an additional 141,145 shares during the period. 58.92% of the stock is owned by hedge funds and other institutional investors.
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.
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