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

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 41,666 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $5.36, for a total value of $223,329.76. Following the sale, the chief executive officer now owns 1,108,719 shares of the company’s stock, valued at $5,942,733.84. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, January 7th, Michael Raab sold 41,666 shares of Ardelyx stock. The stock was sold at an average price of $5.31, for a total value of $221,246.46.
• On Tuesday, December 10th, Michael Raab sold 25,000 shares of Ardelyx stock. The stock was 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 shares were 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 transaction of $153,184.20.
• On Monday, November 11th, Michael Raab sold 2,743 shares of Ardelyx stock. The shares were sold at an average price of $4.90, for a total transaction of $13,440.70.

Ardelyx Stock Performance

NASDAQ:ARDX opened at $5.36 on Friday. The company has a market capitalization of $1.27 billion, a P/E ratio of -17.87 and a beta of 0.85. The stock’s 50 day moving average price is $5.23 and its 200 day moving average price is $5.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. Ardelyx, Inc. has a 52 week low of $4.32 and a 52 week high of $10.13.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. acquired a new stake in shares of Ardelyx in the 4th quarter valued at $35,000. KBC Group NV lifted its position in shares of Ardelyx by 101.8% in the fourth quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company’s stock worth $69,000 after buying an additional 6,915 shares during the last quarter. Helen Stephens Group LLC bought a new stake in shares of Ardelyx during the 3rd quarter worth about $76,000. CWM LLC increased 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 acquiring an additional 9,821 shares during the last quarter. Finally, Bleakley Financial Group LLC bought a new position in shares of Ardelyx in the 4th quarter valued at approximately $98,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

Analysts Set New Price Targets

ARDX has been the topic of several recent analyst reports. Jefferies Financial Group cut their target price on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Cantor Fitzgerald raised Ardelyx to a “strong-buy” rating in a research report on Thursday. Citigroup decreased their price objective on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Piper Sandler upped their target price on Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, HC Wainwright restated a “neutral” rating and set a $5.50 price target on shares of Ardelyx in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.42.

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.