Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells 25,000 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 25,000 shares of the company’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 value of $131,500.00. Following the transaction, the chief executive officer now owns 1,150,385 shares of the company’s stock, valued at approximately $6,051,025.10. This represents a 2.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 shares were 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 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 stock was 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 stock was sold at an average price of $6.07, for a total value of $18,210.00.

Ardelyx Stock Down 1.5 %

Shares of NASDAQ ARDX opened at $5.24 on Friday. Ardelyx, Inc. has a 12-month low of $4.34 and a 12-month 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. The firm has a 50 day moving average of $5.60 and a 200 day moving average of $5.92.

Institutional Investors Weigh In On Ardelyx

A number of hedge funds have recently modified their holdings of ARDX. Millennium Management LLC increased its position in Ardelyx by 142.8% in the second quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock worth $23,735,000 after buying an additional 1,883,995 shares in the last quarter. Rubric Capital Management LP boosted its position in shares of Ardelyx by 68.5% in the third quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock worth $21,085,000 after purchasing an additional 1,243,606 shares during the period. Eventide Asset Management LLC lifted its stake in shares of Ardelyx by 11.2% during the 3rd quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company’s stock valued at $51,076,000 after buying an additional 746,067 shares in the last quarter. Vestal Point Capital LP purchased a new position in shares of Ardelyx during the 3rd quarter valued at $3,445,000. Finally, Squarepoint Ops LLC boosted its holdings in Ardelyx by 375.9% in the 2nd quarter. Squarepoint Ops LLC now owns 460,689 shares of the biopharmaceutical company’s stock worth $3,414,000 after buying an additional 363,894 shares during the period. Institutional investors own 58.92% of the company’s stock.

Analyst Ratings Changes

ARDX has been the topic of several recent analyst reports. HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and cut their price objective for the company from $11.00 to $5.50 in a research report on Monday, November 11th. Citigroup reduced their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ardelyx currently has a consensus rating of “Moderate Buy” and an average target price of $10.42.

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.