Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $223,329.76 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 41,666 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $5.36, for a total transaction of $223,329.76. Following the completion of the sale, the chief executive officer now owns 1,108,719 shares of the company’s stock, valued at approximately $5,942,733.84. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 transaction 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 transaction 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 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 transaction of $13,440.70.

Ardelyx Stock Performance

Shares of ARDX stock opened at $5.36 on Monday. 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 52 week low of $4.32 and a 52 week high of $10.13. The stock has a market capitalization of $1.27 billion, a PE ratio of -17.87 and a beta of 0.85. The firm has a 50 day moving average of $5.23 and a two-hundred day moving average of $5.63.

Institutional Investors Weigh In On Ardelyx

Several institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Ardelyx by 9.4% during the 4th quarter. Principal Financial Group Inc. now owns 148,142 shares of the biopharmaceutical company’s stock worth $751,000 after purchasing an additional 12,703 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Ardelyx by 1.9% during the 4th quarter. Rhumbline Advisers now owns 326,124 shares of the biopharmaceutical company’s stock worth $1,653,000 after purchasing an additional 6,070 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Ardelyx during the 4th quarter worth $35,000. Bleakley Financial Group LLC purchased a new stake in shares of Ardelyx during the 4th quarter worth $98,000. Finally, Clay Northam Wealth Management LLC lifted its position in shares of Ardelyx by 9.3% during the 4th quarter. Clay Northam Wealth Management LLC now owns 307,680 shares of the biopharmaceutical company’s stock worth $1,560,000 after purchasing an additional 26,208 shares during the last quarter. 58.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup cut their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. HC Wainwright restated a “neutral” rating and set a $5.50 price target on shares of Ardelyx in a report on Thursday, January 16th. Piper Sandler raised their price target on shares of Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a report on Thursday. Finally, Jefferies Financial Group cut their price target on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.42.

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.