Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $232,750.00 in Stock

Ardelyx, Inc. (NASDAQ:ARDXGet Free Report) CEO Michael Raab sold 35,000 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.65, for a total transaction of $232,750.00. Following the completion of the transaction, the chief executive officer now directly owns 1,270,273 shares in the company, valued at approximately $8,447,315.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Wednesday, May 29th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $6.72, for a total transaction of $50,400.00.
  • On Tuesday, May 14th, Michael Raab sold 3,000 shares of Ardelyx stock. The shares were sold at an average price of $7.99, for a total value of $23,970.00.
  • On Monday, April 29th, Michael Raab sold 30,000 shares of Ardelyx stock. The stock was sold at an average price of $6.40, for a total value of $192,000.00.
  • On Monday, April 15th, Michael Raab sold 7,500 shares of Ardelyx stock. The shares were sold at an average price of $7.06, for a total value of $52,950.00.
  • On Monday, April 1st, Michael Raab sold 1,518 shares of Ardelyx stock. The stock was sold at an average price of $7.31, for a total value of $11,096.58.

Ardelyx Price Performance

Ardelyx stock opened at $5.95 on Thursday. Ardelyx, Inc. has a 12-month low of $3.16 and a 12-month high of $10.13. The company has a current ratio of 4.53, a quick ratio of 4.36 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $7.06 and a 200-day moving average price of $7.56. The firm has a market capitalization of $1.38 billion, a PE ratio of -21.25 and a beta of 0.79.

Ardelyx (NASDAQ:ARDXGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. The business had revenue of $46.00 million during the quarter, compared to the consensus estimate of $36.40 million. During the same quarter last year, the firm earned ($0.13) earnings per share. The firm’s quarterly revenue was up 303.5% compared to the same quarter last year. As a group, equities research analysts forecast that Ardelyx, Inc. will post -0.36 EPS for the current year.

Institutional Investors Weigh In On Ardelyx

A number of institutional investors and hedge funds have recently modified their holdings of the business. HighMark Wealth Management LLC bought a new position in Ardelyx in the 1st quarter valued at $36,000. SJS Investment Consulting Inc. purchased a new stake in shares of Ardelyx during the fourth quarter valued at $62,000. Sherbrooke Park Advisers LLC bought a new position in shares of Ardelyx in the third quarter worth about $63,000. Jump Financial LLC purchased a new position in Ardelyx in the 4th quarter worth about $63,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Ardelyx in the 1st quarter worth about $64,000. 58.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $15.00 target price on shares of Ardelyx in a report on Friday, May 24th. Wedbush restated an “outperform” rating and issued a $15.00 target price on shares of Ardelyx in a report on Friday, May 24th. SVB Leerink began coverage on shares of Ardelyx in a research report on Friday, April 5th. They set an “outperform” rating and a $14.00 target price on the stock. StockNews.com upgraded Ardelyx from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Leerink Partnrs restated an “outperform” rating on shares of Ardelyx in a research report on Friday, April 5th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.81.

View Our Latest Stock Report on ARDX

Ardelyx Company Profile

(Get Free Report)

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.

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