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

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) CEO Michael Raab sold 41,666 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $4.59, for a total transaction of $191,246.94. Following the sale, the chief executive officer now owns 1,615,587 shares of the company's stock, valued at approximately $7,415,544.33. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, March 7th, Michael Raab sold 41,668 shares of Ardelyx stock. The shares were sold at an average price of $5.36, for a total transaction of $223,340.48.
• On Thursday, February 20th, Michael Raab sold 22,964 shares of Ardelyx stock. The shares were sold at an average price of $5.62, for a total value of $129,057.68.
• On Friday, January 31st, Michael Raab sold 41,666 shares of Ardelyx stock. The stock was sold at an average price of $5.36, for a total value of $223,329.76.

Ardelyx Stock Up 4.9 %

Shares of Ardelyx stock traded up $0.21 on Friday, hitting $4.46. The company had a trading volume of 6,119,347 shares, compared to its average volume of 4,381,327. Ardelyx, Inc. has a 1 year low of $4.02 and a 1 year high of $9.33. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58. The stock has a 50 day moving average of $5.22 and a 200-day moving average of $5.39. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -27.88 and a beta of 0.81.

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Ardelyx (NASDAQ:ARDX - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, meeting analysts' consensus estimates of $0.02. The business had revenue of $116.13 million during the quarter, compared to analyst estimates of $111.16 million. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. As a group, sell-side analysts forecast that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Jefferies Financial Group cut their price target on Ardelyx from $11.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Scotiabank started coverage on shares of Ardelyx in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $15.00 price target for the company. Raymond James reiterated a "strong-buy" rating and set a $13.00 price objective (down previously from $15.00) on shares of Ardelyx in a report on Friday, February 21st. Piper Sandler upgraded Ardelyx to a "hold" rating in a research note on Wednesday, March 12th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $5.50 price target on shares of Ardelyx in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $10.61.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in Ardelyx by 13.3% in the 4th quarter. Janus Henderson Group PLC now owns 24,387,941 shares of the biopharmaceutical company's stock valued at $123,587,000 after buying an additional 2,858,061 shares during the last quarter. Two Seas Capital LP bought a new position in shares of Ardelyx in the fourth quarter valued at approximately $9,407,000. Rock Springs Capital Management LP purchased a new stake in shares of Ardelyx during the fourth quarter valued at approximately $7,421,000. D. E. Shaw & Co. Inc. lifted its holdings in Ardelyx by 9,499.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,468,668 shares of the biopharmaceutical company's stock worth $7,446,000 after acquiring an additional 1,453,369 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Ardelyx in the fourth quarter worth $6,762,000. 58.92% of the stock is owned by institutional investors.

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.