Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $129,057.68 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 22,964 shares of Ardelyx stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total value of $129,057.68. Following the transaction, the chief executive officer now owns 1,085,755 shares in the company, valued at approximately $6,101,943.10. This represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, January 31st, Michael Raab sold 41,666 shares of Ardelyx stock. The shares were sold at an average price of $5.36, for a total value of $223,329.76.
• On Tuesday, January 7th, Michael Raab sold 41,666 shares of Ardelyx stock. The shares were sold at an average price of $5.31, for a total value of $221,246.46.
• On Tuesday, December 10th, Michael Raab sold 25,000 shares of Ardelyx stock. The shares were sold at an average price of $5.26, for a total value of $131,500.00.
• On Monday, November 25th, Michael Raab sold 25,000 shares of Ardelyx stock. The shares were sold at an average price of $5.38, for a total value of $134,500.00.

Ardelyx Price Performance

ARDX stock opened at $5.06 on Monday. The business has a 50 day moving average price of $5.30 and a 200 day moving average price of $5.63. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -31.59 and a beta of 0.85. Ardelyx, Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $9.83. 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 (NASDAQ:ARDX) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $116.13 million during the quarter, compared to analysts’ expectations of $111.16 million. Ardelyx had a negative return on equity of 25.74% and a negative net margin of 11.73%. Equities research analysts anticipate that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ardelyx

Several large investors have recently modified their holdings of ARDX. CWM LLC raised its position in Ardelyx by 328.1% in 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 during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Ardelyx by 9.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 643,912 shares of the biopharmaceutical company’s stock valued at $4,437,000 after purchasing an additional 55,720 shares during the period. Values First Advisors Inc. raised its holdings in shares of Ardelyx by 14.6% in the third quarter. Values First Advisors Inc. now owns 46,282 shares of the biopharmaceutical company’s stock valued at $319,000 after buying an additional 5,890 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ardelyx by 34.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 28,365 shares of the biopharmaceutical company’s stock worth $195,000 after buying an additional 7,245 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Ardelyx by 64.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 45,280 shares of the biopharmaceutical company’s stock worth $312,000 after buying an additional 17,792 shares during the last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ARDX shares. Jefferies Financial Group dropped their target price on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Citigroup dropped their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Raymond James reaffirmed a “strong-buy” rating and issued a $13.00 target price (down from $15.00) on shares of Ardelyx in a research report on Friday. HC Wainwright reissued a “neutral” rating and set a $5.50 price objective on shares of Ardelyx in a research report on Friday. Finally, Piper Sandler boosted their price objective on Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Ardelyx presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.93.

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.