Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells 2,310 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 2,310 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $6.59, for a total transaction of $15,222.90. Following the transaction, the chief executive officer now directly owns 1,267,963 shares in the company, valued at approximately $8,355,876.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, June 13th, Michael Raab sold 35,000 shares of Ardelyx stock. The stock was sold at an average price of $6.65, for a total transaction of $232,750.00.
• On Wednesday, May 29th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $6.72, for a total transaction of $50,400.00.
• On Tuesday, May 14th, Michael Raab sold 3,000 shares of Ardelyx stock. The stock was sold at an average price of $7.99, for a total transaction of $23,970.00.
• On Monday, April 29th, Michael Raab sold 30,000 shares of Ardelyx stock. The stock was sold at an average price of $6.40, for a total transaction of $192,000.00.
• On Monday, April 15th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $7.06, for a total transaction of $52,950.00.
• On Monday, April 1st, Michael Raab sold 1,518 shares of Ardelyx stock. The stock was sold at an average price of $7.31, for a total transaction of $11,096.58.

Ardelyx Price Performance

NASDAQ ARDX opened at $7.41 on Friday. Ardelyx, Inc. has a 12 month low of $3.16 and a 12 month high of $10.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.53 and a quick ratio of 4.36. The firm has a market capitalization of $1.72 billion, a PE ratio of -26.46 and a beta of 0.79. The company’s 50 day simple moving average is $7.00 and its 200 day simple moving average is $7.62.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. The business had revenue of $46.00 million for the quarter, compared to analyst estimates of $36.40 million. During the same quarter last year, the business earned ($0.13) earnings per share. The business’s revenue for the quarter was up 303.5% on a year-over-year basis. As a group, equities research analysts forecast that Ardelyx, Inc. will post -0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. SVB Leerink assumed coverage on shares of Ardelyx in a report on Friday, April 5th. They issued an “outperform” rating and a $14.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Ardelyx in a report on Thursday, June 20th. Wedbush reissued an “outperform” rating and issued a $15.00 target price on shares of Ardelyx in a report on Friday, May 24th. Piper Sandler restated an “overweight” rating and issued a $15.00 price target on shares of Ardelyx in a research note on Friday, May 24th. Finally, Citigroup raised their price target on shares of Ardelyx from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ardelyx presently has an average rating of “Moderate Buy” and a consensus target price of $12.81.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. HighMark Wealth Management LLC acquired a new position in Ardelyx in the first quarter worth approximately $36,000. SJS Investment Consulting Inc. acquired a new position in Ardelyx in the fourth quarter worth approximately $62,000. Sherbrooke Park Advisers LLC acquired a new position in Ardelyx in the third quarter worth approximately $63,000. Jump Financial LLC acquired a new position in Ardelyx in the fourth quarter worth approximately $63,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Ardelyx in the first quarter worth approximately $64,000. 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.