Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells 41,666 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 41,666 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $4.59, for a total value of $191,246.94. Following the completion of the sale, the chief executive officer now directly owns 1,615,587 shares of the company’s stock, valued at $7,415,544.33. The trade was a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, March 7th, Michael Raab sold 41,668 shares of Ardelyx stock. The shares were sold at an average price of $5.36, for a total value of $223,340.48.
• On Thursday, February 20th, Michael Raab sold 22,964 shares of Ardelyx stock. The stock was sold at an average price of $5.62, for a total value of $129,057.68.
• 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 transaction of $223,329.76.

Ardelyx Trading Down 2.7 %

Shares of Ardelyx stock opened at $4.33 on Wednesday. The firm has a market cap of $1.03 billion, a PE ratio of -27.06 and a beta of 0.81. Ardelyx, Inc. has a 1 year low of $4.15 and a 1 year high of $9.33. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.58 and a quick ratio of 4.31. The stock has a fifty day moving average price of $5.29 and a 200-day moving average price of $5.43.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $116.13 million for the quarter, compared to analyst estimates of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. Equities research analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

ARDX has been the subject of a number of analyst reports. Piper Sandler upgraded shares of Ardelyx to a “hold” rating in a report on Wednesday, March 12th. Raymond James reissued a “strong-buy” rating and set a $13.00 price objective (down from $15.00) on shares of Ardelyx in a report on Friday, February 21st. LADENBURG THALM/SH SH reissued a “buy” rating and issued a $11.00 price objective on shares of Ardelyx in a research note on Friday, March 7th. HC Wainwright reaffirmed a “neutral” rating and set a $5.50 target price on shares of Ardelyx in a research report on Friday, February 21st. Finally, BTIG Research initiated coverage on Ardelyx in a research report on Tuesday, March 4th. They issued a “buy” rating and a $14.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ardelyx has an average rating of “Moderate Buy” and an average target price of $10.61.

Institutional Trading of Ardelyx

A number of institutional investors have recently modified their holdings of the business. Ensign Peak Advisors Inc raised its stake in shares of Ardelyx by 3.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 73,950 shares of the biopharmaceutical company’s stock valued at $375,000 after purchasing an additional 2,200 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of Ardelyx by 3.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 90,000 shares of the biopharmaceutical company’s stock valued at $599,000 after buying an additional 3,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ardelyx by 2.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 154,625 shares of the biopharmaceutical company’s stock valued at $788,000 after acquiring an additional 3,550 shares during the period. Swiss National Bank boosted its position in shares of Ardelyx by 1.0% in the fourth quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company’s stock valued at $2,348,000 after acquiring an additional 4,800 shares during the period. Finally, Orion Portfolio Solutions LLC grew its stake in Ardelyx by 42.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 4,933 shares in the last quarter. 58.92% of the stock is currently 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.