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

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

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

• On Wednesday, November 20th, Michael Raab sold 31,980 shares of Ardelyx stock. The shares were 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 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.
• 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 stock was 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 shares were sold at an average price of $5.61, for a total transaction of $196,350.00.

Ardelyx Price Performance

Shares of NASDAQ:ARDX opened at $5.69 on Thursday. The company has a market capitalization of $1.35 billion, a PE ratio of -18.97 and a beta of 0.92. The business has a fifty day moving average price of $5.80 and a 200-day moving average price of $6.08. Ardelyx, Inc. has a 1-year low of $4.06 and a 1-year high of $10.13. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87.

Institutional Trading of Ardelyx

A number of institutional investors and hedge funds have recently bought and sold shares of ARDX. Vanguard Group Inc. grew its holdings in shares of Ardelyx by 2.8% during the first quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock valued at $97,761,000 after buying an additional 365,809 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Ardelyx by 68.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,913,863 shares of the biopharmaceutical company’s stock worth $28,572,000 after purchasing an additional 1,584,597 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of Ardelyx in the first quarter worth $657,000. Castleark Management LLC bought a new position in shares of Ardelyx during the first quarter valued at $1,571,000. Finally, Virtu Financial LLC purchased a new stake in shares of Ardelyx during the first quarter valued at $220,000. 58.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ARDX. StockNews.com raised Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Ardelyx in a research report on Friday, August 2nd. HC Wainwright cut Ardelyx from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $11.00 to $5.50 in a research note on Monday, November 11th. Finally, Citigroup reduced their target price 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 research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.