Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $129,057.68 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 22,964 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total value of $129,057.68. Following the completion of the transaction, the chief executive officer now directly owns 1,085,755 shares in the company, valued at approximately $6,101,943.10. This represents a 2.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, January 31st, Michael Raab sold 41,666 shares of Ardelyx stock. The stock was sold at an average price of $5.36, for a total value of $223,329.76.
• 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 stock was sold at an average price of $5.38, for a total value of $134,500.00.

Ardelyx Stock Down 11.6 %

ARDX stock opened at $5.06 on Friday. The stock has a fifty day moving average of $5.30 and a 200-day moving average of $5.63. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -31.59 and a beta of 0.85. 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 fifty-two week low of $4.32 and a fifty-two week high of $9.83.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $116.13 million for the quarter, compared to analysts’ expectations of $111.16 million. Ardelyx had a negative return on equity of 25.74% and a negative net margin of 11.73%. As a group, equities research analysts predict that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Institutional Trading of Ardelyx

Institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new stake in Ardelyx during the 4th quarter worth about $25,000. Newbridge Financial Services Group Inc. purchased a new stake in Ardelyx during the 4th quarter worth about $35,000. SBI Securities Co. Ltd. purchased a new stake in Ardelyx during the 4th quarter worth about $41,000. Quarry LP purchased a new stake in Ardelyx during the 4th quarter worth about $51,000. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Ardelyx in the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Raymond James reissued a “strong-buy” rating and issued a $13.00 price objective (down previously from $15.00) on shares of Ardelyx in a research report on Friday. Citigroup cut their price objective on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group dropped their price target on Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Piper Sandler increased their price target on Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, Cantor Fitzgerald upgraded Ardelyx to a “strong-buy” rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.93.

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.