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

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 2,310 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $6.59, for a total transaction of $15,222.90. Following the completion of the sale, the chief executive officer now owns 1,267,963 shares of the company’s stock, valued at $8,355,876.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were 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 shares were sold at an average price of $7.31, for a total transaction of $11,096.58.

Ardelyx Stock Performance

Ardelyx stock opened at $7.41 on Friday. The company has a current ratio of 4.53, a quick ratio of 4.36 and a debt-to-equity ratio of 0.66. Ardelyx, Inc. has a 1 year low of $3.16 and a 1 year high of $10.13. The company has a market cap of $1.72 billion, a PE ratio of -26.46 and a beta of 0.79. The company’s 50-day moving average is $7.00 and its two-hundred day moving average is $7.60.

Ardelyx (NASDAQ:ARDX) last announced its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $46.00 million for the quarter, compared to the consensus estimate of $36.40 million. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. The business’s quarterly revenue was up 303.5% on a year-over-year basis. During the same period last year, the company posted ($0.13) EPS. Equities analysts anticipate that Ardelyx, Inc. will post -0.36 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of Ardelyx from a “hold” rating to a “sell” rating in a report on Friday. Leerink Partnrs reaffirmed an “outperform” rating on shares of Ardelyx in a report on Friday, April 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ardelyx in a report on Thursday, June 20th. Piper Sandler reissued an “overweight” rating and set a $15.00 price objective on shares of Ardelyx in a report on Friday, May 24th. Finally, SVB Leerink initiated coverage on shares of Ardelyx in a report on Friday, April 5th. They set an “outperform” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.81.

Institutional Trading of Ardelyx

Several hedge funds have recently bought and sold shares of ARDX. Charles Schwab Investment Management Inc. raised its holdings in Ardelyx by 185.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,666,267 shares of the biopharmaceutical company’s stock worth $6,798,000 after buying an additional 1,082,554 shares during the period. Sherbrooke Park Advisers LLC bought a new position in shares of Ardelyx during the 3rd quarter worth approximately $63,000. Gotham Asset Management LLC grew its stake in shares of Ardelyx by 56.3% during the 3rd quarter. Gotham Asset Management LLC now owns 224,701 shares of the biopharmaceutical company’s stock worth $917,000 after acquiring an additional 80,982 shares in the last quarter. Rubric Capital Management LP bought a new position in shares of Ardelyx during the 3rd quarter worth approximately $10,200,000. Finally, Eventide Asset Management LLC bought a new position in shares of Ardelyx during the 3rd quarter worth approximately $10,996,000. 58.92% of the stock is currently owned by institutional investors and hedge funds.

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.