Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $153,184.20 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 31,980 shares of Ardelyx stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total transaction of $153,184.20. Following the completion of the sale, the chief executive officer now owns 1,175,385 shares in the company, valued at $5,630,094.15. This trade represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 stock was 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 shares were 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.
• 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.
• On Tuesday, August 27th, Michael Raab sold 7,500 shares of Ardelyx stock. The shares were sold at an average price of $6.22, for a total transaction of $46,650.00.

Ardelyx Stock Performance

Shares of Ardelyx stock traded up $0.19 on Friday, hitting $5.31. The stock had a trading volume of 3,795,995 shares, compared to its average volume of 4,965,173. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -17.15 and a beta of 0.92. The business’s 50 day moving average is $5.86 and its two-hundred day moving average is $6.18. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. Ardelyx, Inc. has a twelve month low of $4.06 and a twelve month high of $10.13.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ARDX. StockNews.com upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and set a $11.00 price target on shares of Ardelyx in a report on Friday, August 2nd. HC Wainwright lowered Ardelyx from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $11.00 to $5.50 in a research note on Monday, November 11th. Finally, Citigroup reduced their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Three 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.42.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew 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 valued at $26,000 after acquiring an additional 3,233 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of Ardelyx during the 2nd quarter worth approximately $62,000. Coastal Bridge Advisors LLC acquired a new stake in shares of Ardelyx in the second quarter valued at approximately $74,000. Helen Stephens Group LLC acquired a new stake in shares of Ardelyx in the third quarter valued at approximately $76,000. Finally, Paloma Partners Management Co acquired a new stake in Ardelyx during the first quarter worth approximately $86,000. 58.92% of the stock is owned by institutional investors and hedge funds.

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.