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

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 41,666 shares of Ardelyx stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $5.31, for a total value of $221,246.46. Following the transaction, the chief executive officer now directly owns 1,129,552 shares of the company’s stock, valued at approximately $5,997,921.12. The trade was a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 shares were 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 stock was 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 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.

Ardelyx Price Performance

ARDX opened at $5.07 on Friday. The company has a fifty day moving average price of $5.20 and a two-hundred day moving average price of $5.70. The firm has a market capitalization of $1.20 billion, a PE ratio of -16.90 and a beta of 0.85. Ardelyx, Inc. has a 52 week low of $4.32 and a 52 week high of $10.13. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ARDX shares. HC Wainwright lowered shares of Ardelyx from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $11.00 to $5.50 in a report on Monday, November 11th. Jefferies Financial Group lowered 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. Finally, Citigroup reduced their price objective on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Institutional Investors Weigh In On Ardelyx

A number of institutional investors have recently made changes to their positions in the stock. Redwood Wealth Management Group LLC bought a new position in Ardelyx during the second quarter worth about $62,000. Coastal Bridge Advisors LLC bought a new position in Ardelyx during the 2nd quarter worth approximately $74,000. Helen Stephens Group LLC acquired a new position in Ardelyx during the third quarter valued at approximately $76,000. CWM LLC grew its holdings in Ardelyx by 328.1% during the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 9,821 shares during the period. Finally, Aigen Investment Management LP increased its stake in Ardelyx by 29.4% in the third quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company’s stock valued at $162,000 after purchasing an additional 5,346 shares in the last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.

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.