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

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 41,666 shares of Ardelyx stock in a transaction dated 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 of the company’s stock, valued at approximately $5,997,921.12. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, December 10th, Michael Raab sold 25,000 shares of Ardelyx stock. The stock was 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 stock was 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 value 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 value of $147,750.00.

Ardelyx Stock Down 5.1 %

ARDX stock opened at $5.07 on Friday. Ardelyx, Inc. has a twelve month low of $4.32 and a twelve month high of $10.13. 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 has a market cap of $1.20 billion, a PE ratio of -16.90 and a beta of 0.85. The business’s 50-day simple moving average is $5.20 and its 200 day simple moving average is $5.70.

Institutional Trading of Ardelyx

Several institutional investors have recently modified their holdings of ARDX. Redwood Wealth Management Group LLC acquired a new position in shares of Ardelyx in the second quarter valued at $62,000. Coastal Bridge Advisors LLC acquired a new position in shares of Ardelyx in the 2nd quarter valued at $74,000. Helen Stephens Group LLC bought a new position in shares of Ardelyx during the 3rd quarter worth about $76,000. CWM LLC boosted its position in shares of Ardelyx by 328.1% during the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 9,821 shares in the last quarter. Finally, Algert Global LLC bought a new stake in Ardelyx in the second quarter valued at about $174,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup lowered their price target on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $11.00 to $5.50 in a report on Monday, November 11th. Finally, Jefferies Financial Group decreased 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.25.

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.