Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells 2,743 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 2,743 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $4.90, for a total transaction of $13,440.70. Following the sale, the chief executive officer now directly owns 1,207,365 shares of the company’s stock, valued at approximately $5,916,088.50. This trade represents a 0.23 % decrease in their position. 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 Monday, October 28th, Michael Raab sold 25,000 shares of Ardelyx stock. The stock was sold at an average price of $5.91, for a total transaction of $147,750.00.
• 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 transaction of $45,075.00.
• On Thursday, September 26th, Michael Raab sold 3,000 shares of Ardelyx stock. The shares were 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 stock was sold at an average price of $5.61, for a total value 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 value 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 value of $188,838.50.

Ardelyx Price Performance

Ardelyx stock opened at $4.71 on Friday. The stock has a market cap of $1.12 billion, a P/E ratio of -15.70 and a beta of 0.92. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average price is $5.97 and its two-hundred day moving average price is $6.27. Ardelyx, Inc. has a 52 week low of $3.83 and a 52 week high of $10.13.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ARDX shares. HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $11.00 to $5.50 in a report on Monday. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target on shares of Ardelyx in a research report on Friday, August 2nd. Citigroup decreased their price objective on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, StockNews.com upgraded Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Ardelyx currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ARDX. Swiss National Bank grew its stake in Ardelyx by 6.7% in the 1st quarter. Swiss National Bank now owns 458,300 shares of the biopharmaceutical company’s stock valued at $3,346,000 after purchasing an additional 28,900 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Ardelyx by 100.7% in the 1st quarter. Russell Investments Group Ltd. now owns 536,297 shares of the biopharmaceutical company’s stock worth $3,915,000 after buying an additional 269,046 shares during the last quarter. ProShare Advisors LLC grew its position in Ardelyx by 8.9% during the first quarter. ProShare Advisors LLC now owns 57,729 shares of the biopharmaceutical company’s stock valued at $421,000 after buying an additional 4,735 shares during the period. Entropy Technologies LP purchased a new stake in Ardelyx during the first quarter worth about $341,000. Finally, Vanguard Group Inc. raised its position in Ardelyx by 2.8% in the first quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock worth $97,761,000 after acquiring an additional 365,809 shares during the period. Hedge funds and other institutional investors own 58.92% of the company’s stock.

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.