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

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 25,000 shares of Ardelyx stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $5.38, for a total value of $134,500.00. Following the completion of the sale, the chief executive officer now owns 1,150,385 shares in the company, valued at approximately $6,189,071.30. The trade was a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, November 20th, Michael Raab sold 31,980 shares of Ardelyx stock. The stock was sold at an average price of $4.79, for a total value 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 value of $13,440.70.
• 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 stock was 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 transaction 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 transaction of $196,350.00.

Ardelyx Stock Up 6.4 %

Shares of NASDAQ:ARDX opened at $5.69 on Friday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -18.97 and a beta of 0.92. Ardelyx, Inc. has a 12-month low of $4.06 and a 12-month high of $10.13. The business has a 50-day moving average price of $5.79 and a 200 day moving average price of $6.08. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64.

Institutional Investors Weigh In On Ardelyx

A number of institutional investors and hedge funds have recently made changes to their positions in ARDX. Nisa Investment Advisors LLC increased its holdings in Ardelyx by 1,026.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 3,233 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new stake in shares of Ardelyx in the second quarter valued at $62,000. Coastal Bridge Advisors LLC purchased a new stake in shares of Ardelyx in the 2nd quarter valued at $74,000. Helen Stephens Group LLC purchased a new stake in shares of Ardelyx in the 3rd quarter valued at $76,000. Finally, CWM LLC lifted its stake in Ardelyx by 328.1% during the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 9,821 shares in the last quarter. 58.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ARDX. HC Wainwright downgraded Ardelyx from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $11.00 to $5.50 in a research report on Monday, November 11th. Wedbush reiterated an “outperform” rating and set a $11.00 price target on shares of Ardelyx in a report on Friday, August 2nd. Finally, Citigroup lowered their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.42.

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.