Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab Sells 25,000 Shares

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 25,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $5.38, for a total value of $134,500.00. Following the completion of the sale, the chief executive officer now owns 1,150,385 shares in the company, valued at approximately $6,189,071.30. The trade was a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 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 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.
• 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 shares were 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 shares were sold at an average price of $5.61, for a total value of $196,350.00.

Ardelyx Trading Up 6.4 %

NASDAQ ARDX opened at $5.69 on Friday. The firm’s 50 day moving average price is $5.79 and its two-hundred day moving average price is $6.08. 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 twelve month low of $4.06 and a twelve month high of $10.13. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -18.97 and a beta of 0.92.

Institutional Trading of Ardelyx

Several institutional investors have recently made changes to their positions in ARDX. Nisa Investment Advisors LLC boosted its stake in shares of Ardelyx by 1,026.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 3,233 shares during the period. Redwood Wealth Management Group LLC purchased a new stake in shares of Ardelyx during the second quarter worth $62,000. Coastal Bridge Advisors LLC acquired a new stake in Ardelyx during the second quarter valued at $74,000. Helen Stephens Group LLC purchased a new position in Ardelyx in the third quarter valued at about $76,000. Finally, CWM LLC increased its position in Ardelyx by 328.1% in the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 9,821 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and cut their price target for the stock from $11.00 to $5.50 in a research note on Monday, November 11th. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of Ardelyx in a research report on Friday, August 2nd. Finally, Citigroup dropped their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

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.