Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab Sells 41,666 Shares

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 41,666 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $5.31, for a total value of $221,246.46. Following the sale, the chief executive officer now owns 1,129,552 shares in the company, valued at approximately $5,997,921.12. This trade represents a 3.56 % decrease in their ownership of the stock. The sale 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 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 stock was sold at an average price of $5.38, for a total value 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 stock was 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 shares were sold at an average price of $5.91, for a total transaction of $147,750.00.

Ardelyx Stock Down 5.1 %

Shares of NASDAQ ARDX opened at $5.07 on Friday. Ardelyx, Inc. has a 52-week low of $4.32 and a 52-week high of $10.13. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -16.90 and a beta of 0.85. The stock has a 50 day moving average price of $5.20 and a 200 day moving average price of $5.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03.

Analyst Ratings Changes

Several analysts have issued reports on ARDX shares. Citigroup decreased their price objective on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group decreased their price target on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, HC Wainwright downgraded 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.25.

Institutional Investors Weigh In On Ardelyx

Hedge funds have recently made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new position in shares of Ardelyx during the second quarter valued at $62,000. Coastal Bridge Advisors LLC purchased a new position in Ardelyx during the 2nd quarter valued at about $74,000. Helen Stephens Group LLC bought a new stake in shares of Ardelyx in the 3rd quarter valued at about $76,000. CWM LLC lifted its position in shares of Ardelyx by 328.1% in the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 9,821 shares during the period. Finally, Algert Global LLC bought a new position in shares of Ardelyx during the second quarter valued at approximately $174,000. 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.