Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $15,222.90 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 2,310 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $6.59, for a total transaction of $15,222.90. Following the completion of the transaction, the chief executive officer now owns 1,267,963 shares in the company, valued at $8,355,876.17. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Thursday, June 13th, Michael Raab sold 35,000 shares of Ardelyx stock. The shares were sold at an average price of $6.65, for a total transaction of $232,750.00.
• On Wednesday, May 29th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $6.72, for a total value of $50,400.00.
• On Tuesday, May 14th, Michael Raab sold 3,000 shares of Ardelyx stock. The shares were sold at an average price of $7.99, for a total value of $23,970.00.
• On Monday, April 29th, Michael Raab sold 30,000 shares of Ardelyx stock. The stock was sold at an average price of $6.40, for a total value of $192,000.00.
• On Monday, April 15th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $7.06, for a total transaction of $52,950.00.
• On Monday, April 1st, Michael Raab sold 1,518 shares of Ardelyx stock. The shares were sold at an average price of $7.31, for a total transaction of $11,096.58.

Ardelyx Trading Up 14.0 %

Shares of ARDX opened at $7.41 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.36 and a current ratio of 4.53. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -26.46 and a beta of 0.79. The stock has a fifty day moving average price of $7.00 and a two-hundred day moving average price of $7.64. Ardelyx, Inc. has a 52-week low of $3.16 and a 52-week high of $10.13.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. The firm had revenue of $46.00 million for the quarter, compared to analyst estimates of $36.40 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The company’s revenue was up 303.5% on a year-over-year basis. Analysts predict that Ardelyx, Inc. will post -0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ARDX. Citigroup boosted their price target on Ardelyx from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Ardelyx in a research report on Thursday, June 20th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Ardelyx in a research report on Friday, April 5th. Wedbush reissued an “outperform” rating and issued a $15.00 price target on shares of Ardelyx in a report on Friday, May 24th. Finally, Piper Sandler reissued an “overweight” rating and issued a $15.00 price target on shares of Ardelyx in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.81.

Institutional Trading of Ardelyx

A number of hedge funds and other institutional investors have recently modified their holdings of ARDX. HighMark Wealth Management LLC acquired a new position in Ardelyx during the 1st quarter worth $36,000. SJS Investment Consulting Inc. bought a new stake in shares of Ardelyx during the fourth quarter worth $62,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Ardelyx during the third quarter valued at $63,000. Jump Financial LLC bought a new position in Ardelyx in the fourth quarter valued at about $63,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Ardelyx in the first quarter valued at about $64,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

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.