Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $45,075.00 in Stock

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) CEO Michael Raab sold 7,500 shares of the business's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $6.01, for a total transaction of $45,075.00. Following the completion of the transaction, the chief executive officer now owns 1,210,108 shares in the company, valued at $7,272,749.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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 value 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 value 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 value 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 value 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 transaction of $169,200.00.

Ardelyx Stock Down 0.3 %

Shares of NASDAQ ARDX traded down $0.02 during trading on Tuesday, reaching $5.97. The company had a trading volume of 2,032,413 shares, compared to its average volume of 4,961,136. Ardelyx, Inc. has a 12-month low of $3.33 and a 12-month high of $10.13. The company has a quick ratio of 3.99, a current ratio of 4.21 and a debt-to-equity ratio of 0.68. The business's 50-day moving average is $6.08 and its 200 day moving average is $6.44. The stock has a market cap of $1.39 billion, a PE ratio of -21.32 and a beta of 0.90.

Ardelyx (NASDAQ:ARDX - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company had revenue of $73.20 million for the quarter, compared to the consensus estimate of $55.03 million. Ardelyx had a negative net margin of 31.02% and a negative return on equity of 39.73%. Ardelyx's revenue for the quarter was up 228.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) EPS. As a group, equities analysts forecast that Ardelyx, Inc. will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ardelyx

Several institutional investors and hedge funds have recently made changes to their positions in ARDX. Nisa Investment Advisors LLC increased its holdings in Ardelyx by 1,026.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 3,233 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of Ardelyx during the second quarter valued at approximately $62,000. Coastal Bridge Advisors LLC bought a new position in Ardelyx during the second quarter valued at approximately $74,000. Helen Stephens Group LLC purchased a new stake in Ardelyx in the third quarter worth approximately $76,000. Finally, Paloma Partners Management Co bought a new stake in Ardelyx in the 1st quarter worth approximately $86,000. Institutional investors own 58.92% of the company's stock.

Wall Street Analysts Forecast Growth

ARDX has been the topic of several research analyst reports. Piper Sandler cut shares of Ardelyx from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $15.00 to $7.00 in a research report on Tuesday, July 2nd. Wedbush reiterated an "outperform" rating and set a $11.00 target price on shares of Ardelyx in a report on Friday, August 2nd. HC Wainwright raised their target price on Ardelyx from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Citigroup upped their price target on Ardelyx from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Ardelyx in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.