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 business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $5.38, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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 value 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 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 transaction 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 transaction of $196,350.00.

Ardelyx Price Performance

Shares of Ardelyx stock opened at $5.69 on Thursday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -18.97 and a beta of 0.92. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. The stock’s 50-day simple moving average is $5.80 and its 200-day simple moving average is $6.08. Ardelyx, Inc. has a 52 week low of $4.06 and a 52 week high of $10.13.

Wall Street Analyst Weigh In

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

Institutional Trading of Ardelyx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. World Equity Group Inc. lifted its holdings in shares of Ardelyx by 15.4% in the second quarter. World Equity Group Inc. now owns 18,402 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 2,453 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Ardelyx by 1,026.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 3,233 shares during the last quarter. Aigen Investment Management LP lifted its stake in Ardelyx by 29.4% in the 3rd quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company’s stock worth $162,000 after purchasing an additional 5,346 shares in the last quarter. Values First Advisors Inc. boosted its holdings in shares of Ardelyx by 14.6% during the 3rd quarter. Values First Advisors Inc. now owns 46,282 shares of the biopharmaceutical company’s stock valued at $319,000 after purchasing an additional 5,890 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Ardelyx by 34.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 28,365 shares of the biopharmaceutical company’s stock valued at $195,000 after purchasing an additional 7,245 shares during the last quarter. Institutional investors own 58.92% of the company’s stock.

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.