Insider Buying: ADARx Pharmaceuticals (NASDAQ:ADRX) Director Acquires $16,150,000.00 in Stock

ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) Director Carl Gordon acquired 950,000 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was bought at an average price of $17.00 per share, for a total transaction of $16,150,000.00. Following the acquisition, the director owned 14,325,529 shares of the company’s stock, valued at approximately $243,533,993. This trade represents a 7.10% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

ADARx Pharmaceuticals Price Performance

NASDAQ ADRX opened at $18.25 on Friday. ADARx Pharmaceuticals, Inc. has a 1-year low of $17.84 and a 1-year high of $23.21.

Analyst Ratings Changes

Separately, Wall Street Zen raised ADARx Pharmaceuticals to a “hold” rating in a research note on Saturday.

ADARx Pharmaceuticals Company Profile

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing RNA-based medicines for immune-mediated and other serious diseases. The company is headquartered in San Diego, California, and uses proprietary technologies designed to modulate disease-related proteins at the RNA level.

ADARx’s pipeline includes investigational therapies intended to address conditions involving the complement system, coagulation pathways and other biologic mechanisms. Its programs are designed to provide targeted, durable treatment through approaches such as RNA interference and related forms of RNA-based therapeutic intervention.

Founded in 2018, ADARx has advanced its drug candidates through preclinical and clinical development and has pursued regulatory and clinical activities in the United States and other international markets.