Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $221,246.46 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 41,666 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $5.31, for a total transaction of $221,246.46. Following the sale, the chief executive officer now directly owns 1,129,552 shares of the company’s stock, valued at approximately $5,997,921.12. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 value 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 value of $134,500.00.
• On Wednesday, November 20th, Michael Raab sold 31,980 shares of Ardelyx stock. The shares were 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 shares were sold at an average price of $5.91, for a total transaction of $147,750.00.

Ardelyx Trading Down 5.1 %

NASDAQ ARDX opened at $5.07 on Monday. 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 1-year low of $4.32 and a 1-year high of $10.13. The firm’s fifty day simple moving average is $5.20 and its 200-day simple moving average is $5.69. The company has a market capitalization of $1.20 billion, a PE ratio of -16.90 and a beta of 0.85.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new stake in shares of Ardelyx in the 2nd quarter valued at approximately $62,000. Coastal Bridge Advisors LLC bought a new stake in Ardelyx in the second quarter worth approximately $74,000. Helen Stephens Group LLC acquired a new position in shares of Ardelyx during the 3rd quarter worth $76,000. CWM LLC raised its holdings in shares of Ardelyx by 328.1% during the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 9,821 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Ardelyx during the 2nd quarter valued at $174,000. 58.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $11.00 to $5.50 in a research report on Monday, November 11th. Citigroup lowered their price objective on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Jefferies Financial Group reduced their target price on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.25.

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.