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

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 25,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $5.91, for a total transaction of $147,750.00. Following the sale, the chief executive officer now directly owns 1,210,108 shares in the company, valued at $7,151,738.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value 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 transaction 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 transaction of $188,838.50.
• On Monday, August 12th, Michael Raab sold 1,229 shares of Ardelyx stock. The stock was sold at an average price of $5.71, for a total transaction of $7,017.59.

Ardelyx Stock Performance

Shares of NASDAQ ARDX opened at $6.09 on Friday. Ardelyx, Inc. has a one year low of $3.43 and a one year high of $10.13. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.21 and a quick ratio of 3.99. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -22.55 and a beta of 0.90. The stock’s fifty day moving average price is $6.07 and its two-hundred day moving average price is $6.32.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The business had revenue of $73.20 million for the quarter, compared to analyst estimates of $55.03 million. Ardelyx had a negative net margin of 31.02% and a negative return on equity of 39.73%. Ardelyx’s revenue for the quarter was up 228.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) earnings per share. On average, equities analysts forecast that Ardelyx, Inc. will post -0.25 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its stake in shares of Ardelyx by 1,026.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 3,233 shares during the period. Redwood Wealth Management Group LLC acquired a new position in Ardelyx in the 2nd quarter valued at $62,000. Coastal Bridge Advisors LLC bought a new stake in shares of Ardelyx during the 2nd quarter valued at $74,000. Helen Stephens Group LLC acquired a new stake in shares of Ardelyx during the 3rd quarter worth $76,000. Finally, Paloma Partners Management Co bought a new position in shares of Ardelyx in the first quarter worth $86,000. 58.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

ARDX has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and set a $11.00 price target on shares of Ardelyx in a report on Friday, August 2nd. StockNews.com raised Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price target on shares of Ardelyx in a report on Friday. Finally, Citigroup upped their price objective on shares of Ardelyx from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.67.

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.