Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $147,750.00 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 25,000 shares of Ardelyx stock in a transaction on Monday, October 28th. The stock was sold at an average price of $5.91, for a total value of $147,750.00. Following the sale, the chief executive officer now owns 1,210,108 shares in the company, valued at $7,151,738.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, October 11th, Michael Raab sold 7,500 shares of Ardelyx stock. The shares were sold at an average price of $6.01, for a total transaction of $45,075.00.
• 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 transaction of $18,210.00.
• On Wednesday, September 11th, Michael Raab sold 35,000 shares of Ardelyx stock. The stock was 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 shares were sold at an average price of $6.22, for a total transaction 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 transaction of $188,838.50.
• On Monday, August 12th, Michael Raab sold 1,229 shares of Ardelyx stock. The stock was sold at an average price of $5.71, for a total transaction of $7,017.59.

Ardelyx Trading Down 2.0 %

Shares of ARDX stock opened at $5.89 on Thursday. 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 firm has a market cap of $1.37 billion, a P/E ratio of -21.04 and a beta of 0.90. The business has a 50-day moving average price of $6.08 and a two-hundred day moving average price of $6.33. Ardelyx, Inc. has a 12-month low of $3.43 and a 12-month high of $10.13.

Ardelyx (NASDAQ:ARDX) last released its earnings results 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 analyst estimates of $55.03 million. Ardelyx had a negative net margin of 31.02% and a negative return on equity of 39.73%. The firm’s quarterly revenue was up 228.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) EPS. Equities analysts anticipate that Ardelyx, Inc. will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ARDX. Nisa Investment Advisors LLC grew its holdings in shares of Ardelyx by 1,026.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 3,233 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of Ardelyx in the second quarter valued at about $62,000. Coastal Bridge Advisors LLC bought a new position in shares of Ardelyx during the second quarter valued at about $74,000. Helen Stephens Group LLC bought a new stake in shares of Ardelyx in the third quarter worth about $76,000. Finally, Paloma Partners Management Co bought a new stake in shares of Ardelyx in the 1st quarter worth approximately $86,000. 58.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ARDX shares. Citigroup increased their target price on Ardelyx from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. StockNews.com raised Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Ardelyx in a research note on Friday, August 2nd. Finally, HC Wainwright increased their target price on shares of Ardelyx from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

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.