Michael Raab Sells 25,000 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 25,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $5.91, for a total transaction of $147,750.00. Following the transaction, the chief executive officer now owns 1,210,108 shares in the company, valued at $7,151,738.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 stock was 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 shares were sold at an average price of $5.61, for a total transaction 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.
• On Tuesday, August 20th, Michael Raab sold 32,225 shares of Ardelyx stock. The stock was sold at an average price of $5.86, for a total transaction of $188,838.50.
• On Monday, August 12th, Michael Raab sold 1,229 shares of Ardelyx stock. The shares were sold at an average price of $5.71, for a total value of $7,017.59.

Ardelyx Stock Performance

ARDX stock opened at $5.89 on Thursday. The company has a market cap of $1.37 billion, a P/E ratio of -21.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.21 and a quick ratio of 3.99. Ardelyx, Inc. has a 1 year low of $3.43 and a 1 year high of $10.13. The stock’s fifty day moving average price is $6.08 and its 200-day moving average price is $6.33.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The business had revenue of $73.20 million during the quarter, compared to the consensus estimate of $55.03 million. Ardelyx had a negative return on equity of 39.73% and a negative net margin of 31.02%. The business’s quarterly revenue was up 228.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) EPS. On average, equities analysts forecast that Ardelyx, Inc. will post -0.25 earnings per share for the current year.

Institutional Trading of Ardelyx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its stake in shares of Ardelyx by 1,026.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 3,233 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in Ardelyx during the second quarter valued at $62,000. Coastal Bridge Advisors LLC bought a new stake in Ardelyx during the second quarter valued at about $74,000. Helen Stephens Group LLC purchased a new stake in Ardelyx in the third quarter worth about $76,000. Finally, Paloma Partners Management Co bought a new position in shares of Ardelyx in the first quarter worth about $86,000. 58.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARDX has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target on shares of Ardelyx in a research report on Friday, August 2nd. HC Wainwright upped their price objective on Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Citigroup lifted their target price on Ardelyx from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, StockNews.com raised Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.67.

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.