Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $196,350.00 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $5.61, for a total value of $196,350.00. Following the sale, the chief executive officer now directly owns 1,220,608 shares of the company’s stock, valued at approximately $6,847,610.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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 shares were sold at an average price of $5.71, for a total transaction 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.
• On Monday, July 15th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $5.97, for a total value of $44,775.00.
• On Friday, June 28th, Michael Raab sold 2,310 shares of Ardelyx stock. The shares were sold at an average price of $6.59, for a total value of $15,222.90.

Ardelyx Stock Performance

Shares of NASDAQ:ARDX opened at $6.31 on Monday. Ardelyx, Inc. has a 1 year low of $3.16 and a 1 year high of $10.13. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -22.54 and a beta of 0.90. 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 company’s 50 day simple moving average is $5.84 and its 200 day simple moving average is $6.75.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. Ardelyx had a negative return on equity of 39.73% and a negative net margin of 31.02%. The firm had revenue of $73.20 million for the quarter, compared to the consensus estimate of $55.03 million. During the same quarter last year, the business posted ($0.08) EPS. The company’s revenue was up 228.3% compared to the same quarter last year. As a group, research analysts predict that Ardelyx, Inc. will post -0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Ardelyx by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock valued at $97,761,000 after purchasing an additional 365,809 shares in the last quarter. Eventide Asset Management LLC lifted its stake in Ardelyx by 152.5% in the 4th quarter. Eventide Asset Management LLC now owns 6,805,494 shares of the biopharmaceutical company’s stock valued at $42,194,000 after purchasing an additional 4,110,494 shares during the last quarter. Rubric Capital Management LP boosted its position in Ardelyx by 60.5% in the fourth quarter. Rubric Capital Management LP now owns 4,012,753 shares of the biopharmaceutical company’s stock valued at $24,879,000 after buying an additional 1,512,753 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Ardelyx by 68.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,913,863 shares of the biopharmaceutical company’s stock worth $28,572,000 after buying an additional 1,584,597 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Ardelyx by 142.8% during the second quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock worth $23,735,000 after buying an additional 1,883,995 shares in the last quarter. Institutional investors own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citigroup boosted their target price on shares of Ardelyx from $10.00 to $12.00 and gave the company a “buy” rating in a research 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. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Piper Sandler cut Ardelyx from an “overweight” rating to a “neutral” rating and cut their price target for the company from $15.00 to $7.00 in a research note on Tuesday, July 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Ardelyx in a research report on Thursday, June 20th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.67.

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.