Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab Sells 7,500 Shares

Posted by John. R. Edwardson on Oct 16th, 2024

Ardelyx, Inc. (NASDAQ:ARDX – Get Free Report) CEO Michael Raab sold 7,500 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $6.01, for a total value of $45,075.00. Following the completion of the sale, the chief executive officer now directly owns 1,210,108 shares in the company, valued at approximately $7,272,749.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

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.
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 transaction 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 transaction of $188,838.50.
On Monday, August 12th, Michael Raab sold 1,229 shares of Ardelyx stock. The shares were sold at an average price of $5.71, for a total value of $7,017.59.
On Monday, July 29th, Michael Raab sold 30,000 shares of Ardelyx stock. The stock was sold at an average price of $5.64, for a total value of $169,200.00.

Ardelyx Stock Performance

Shares of NASDAQ ARDX opened at $5.97 on Wednesday. Ardelyx, Inc. has a 12-month low of $3.33 and a 12-month high of $10.13. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -21.32 and a beta of 0.90. The company has a current ratio of 4.21, a quick ratio of 3.99 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $6.08 and a 200 day moving average of $6.44.

Ardelyx (NASDAQ:ARDX – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. Ardelyx had a negative net margin of 31.02% and a negative return on equity of 39.73%. The firm had revenue of $73.20 million during the quarter, compared to the consensus estimate of $55.03 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 228.3% compared to the same quarter last year. On average, research analysts anticipate that Ardelyx, Inc. will post -0.25 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ARDX shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ardelyx in a research report on Thursday, June 20th. Citigroup raised their price target on shares of Ardelyx from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, August 2nd. HC Wainwright boosted their price objective on shares of Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a report on Monday, August 5th. Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of Ardelyx in a report on Friday, August 2nd. Finally, Piper Sandler lowered shares of Ardelyx from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $15.00 to $7.00 in a research note on Tuesday, July 2nd. Two 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

Read Our Latest Analysis on Ardelyx

Institutional Trading of Ardelyx

A number of hedge funds and other institutional investors have recently bought and sold shares of ARDX. Nisa Investment Advisors LLC lifted its position in shares of Ardelyx by 1,026.3% during the 2nd 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 in the last quarter. Redwood Wealth Management Group LLC purchased a new position in Ardelyx during the second quarter valued at approximately $62,000. Coastal Bridge Advisors LLC purchased a new position in Ardelyx during the second quarter valued at approximately $74,000. Helen Stephens Group LLC bought a new position in shares of Ardelyx in the third quarter worth approximately $76,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Ardelyx in the first quarter worth $86,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

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.