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 stock was sold at an average price of $5.31, for a total value of $221,246.46. Following the sale, the chief executive officer now owns 1,129,552 shares in the company, valued at $5,997,921.12. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 stock was sold at an average price of $5.91, for a total transaction of $147,750.00.

Ardelyx Price Performance

Shares of NASDAQ ARDX traded down $0.27 during midday trading on Friday, hitting $5.07. 3,081,114 shares of the company’s stock were exchanged, compared to its average volume of 4,187,708. The business’s fifty day moving average price is $5.22 and its two-hundred day moving average price is $5.71. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -16.90 and a beta of 0.85. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. Ardelyx, Inc. has a 12-month low of $4.32 and a 12-month high of $10.13.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group lowered their target price on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Citigroup dropped 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. Finally, HC Wainwright cut Ardelyx from a “buy” rating to a “neutral” rating and decreased their price target for the company from $11.00 to $5.50 in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

Hedge Funds Weigh In On Ardelyx

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in shares of Ardelyx by 283.9% during the 2nd quarter. Principal Financial Group Inc. now owns 471,453 shares of the biopharmaceutical company’s stock valued at $3,493,000 after buying an additional 348,642 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Ardelyx in the 2nd quarter worth approximately $832,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Ardelyx in the 2nd quarter valued at $62,000. XTX Topco Ltd bought a new position in shares of Ardelyx during the 2nd quarter valued at $446,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in Ardelyx in the 2nd quarter worth $182,000. Institutional investors 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.