Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab Sells 103,624 Shares

Ardelyx, Inc. (NASDAQ:ARDXGet Rating) CEO Michael Raab sold 103,624 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $0.65, for a total transaction of $67,355.60. Following the completion of the sale, the chief executive officer now owns 668,826 shares in the company, valued at $434,736.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

  • On Friday, May 20th, Michael Raab sold 6,124 shares of Ardelyx stock. The stock was sold at an average price of $0.67, for a total value of $4,103.08.

Shares of ARDX traded up $0.01 during trading hours on Wednesday, reaching $0.71. The company’s stock had a trading volume of 1,893,860 shares, compared to its average volume of 3,222,181. The firm has a market cap of $102.65 million, a price-to-earnings ratio of -0.51 and a beta of 1.86. The company has a 50 day moving average of $0.80 and a two-hundred day moving average of $0.92. Ardelyx, Inc. has a 1-year low of $0.58 and a 1-year high of $2.15.

Ardelyx (NASDAQ:ARDXGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01. Ardelyx had a negative return on equity of 177.07% and a negative net margin of 3,843.36%. During the same period in the previous year, the business posted ($0.34) earnings per share. Equities research analysts anticipate that Ardelyx, Inc. will post -0.72 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in Ardelyx during the fourth quarter worth approximately $26,000. Squarepoint Ops LLC bought a new stake in Ardelyx during the third quarter worth approximately $29,000. Centiva Capital LP bought a new stake in Ardelyx during the third quarter worth approximately $38,000. Barclays PLC boosted its position in Ardelyx by 213.2% during the third quarter. Barclays PLC now owns 37,217 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 25,333 shares during the period. Finally, Mirabella Financial Services LLP bought a new stake in Ardelyx during the first quarter worth approximately $51,000. 32.35% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on ARDX shares. Jefferies Financial Group upgraded Ardelyx from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $1.00 to $5.00 in a report on Wednesday, March 2nd. StockNews.com started coverage on Ardelyx in a report on Thursday, March 31st. They set a “sell” rating on the stock. Zacks Investment Research downgraded Ardelyx from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Piper Sandler cut their price objective on Ardelyx from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, May 18th. Finally, Wedbush dropped their target price on Ardelyx from $2.00 to $1.00 in a report on Tuesday, March 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Ardelyx presently has a consensus rating of “Hold” and a consensus price target of $4.71.

Ardelyx Company Profile (Get Rating)

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, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial to control serum phosphorus in adult patients with chronic kidney disease (CKD)on dialysis, or hyperphosphatemia.

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