Michael Raab Sells 2,743 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 2,743 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $4.90, for a total transaction of $13,440.70. Following the completion of the sale, the chief executive officer now owns 1,207,365 shares in the company, valued at approximately $5,916,088.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 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 shares were 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 stock was sold at an average price of $6.22, for a total value of $46,650.00.
• On Tuesday, August 20th, Michael Raab sold 32,225 shares of Ardelyx stock. The shares were sold at an average price of $5.86, for a total value of $188,838.50.

Ardelyx Trading Down 2.0 %

Ardelyx stock opened at $4.50 on Thursday. The business’s fifty day moving average is $5.99 and its two-hundred day moving average is $6.28. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. Ardelyx, Inc. has a 52 week low of $3.82 and a 52 week high of $10.13.

Analyst Ratings Changes

ARDX has been the topic of several recent research reports. Wedbush reiterated an “outperform” rating and set a $11.00 target price on shares of Ardelyx in a research report on Friday, August 2nd. Citigroup dropped their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. StockNews.com upgraded Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, HC Wainwright cut Ardelyx from a “buy” rating to a “neutral” rating and lowered their price target for the company from $11.00 to $5.50 in a research report on Monday. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.42.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. World Equity Group Inc. lifted its position in shares of Ardelyx by 15.4% during the second quarter. World Equity Group Inc. now owns 18,402 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 2,453 shares in the last quarter. Nisa Investment Advisors LLC raised its position 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 worth $26,000 after purchasing an additional 3,233 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Ardelyx by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 57,729 shares of the biopharmaceutical company’s stock worth $421,000 after buying an additional 4,735 shares in the last quarter. Aigen Investment Management LP boosted its position in Ardelyx by 29.4% in the 3rd quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company’s stock valued at $162,000 after buying an additional 5,346 shares during the last quarter. Finally, Values First Advisors Inc. lifted its stake in shares of Ardelyx by 14.6% during the third quarter. Values First Advisors Inc. now owns 46,282 shares of the biopharmaceutical company’s stock valued at $319,000 after acquiring an additional 5,890 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

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.