Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) CEO Michael Raab sold 2,310 shares of the business's stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $6.59, for a total value of $15,222.90. Following the completion of the sale, the chief executive officer now owns 1,267,963 shares of the company's stock, valued at approximately $8,355,876.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 value of $232,750.00.
- On Wednesday, May 29th, Michael Raab sold 7,500 shares of Ardelyx stock. The shares were 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 shares were 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 shares were sold at an average price of $7.06, for a total value 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 value of $11,096.58.
Ardelyx Trading Up 14.0 %
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Ardelyx stock opened at $7.41 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.53 and a quick ratio of 4.36. Ardelyx, Inc. has a one year low of $3.16 and a one year high of $10.13. The stock has a market capitalization of $1.72 billion, a PE ratio of -26.46 and a beta of 0.79. The business's fifty day moving average is $7.00 and its 200 day moving average is $7.60.
Ardelyx (NASDAQ:ARDX - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. Ardelyx had a negative return on equity of 41.65% and a negative net margin of 41.36%. The company had revenue of $46.00 million for the quarter, compared to analysts' expectations of $36.40 million. During the same period last year, the firm posted ($0.13) earnings per share. Ardelyx's revenue was up 303.5% compared to the same quarter last year. On average, sell-side analysts predict that Ardelyx, Inc. will post -0.36 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP boosted its position in Ardelyx by 1,183.6% in the third quarter. GSA Capital Partners LLP now owns 549,695 shares of the biopharmaceutical company's stock worth $2,243,000 after purchasing an additional 506,872 shares during the last quarter. Rubric Capital Management LP raised its stake in shares of Ardelyx by 60.5% in the fourth quarter. Rubric Capital Management LP now owns 4,012,753 shares of the biopharmaceutical company's stock worth $24,879,000 after buying an additional 1,512,753 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Ardelyx by 185.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,666,267 shares of the biopharmaceutical company's stock worth $6,798,000 after buying an additional 1,082,554 shares during the period. Vanguard Group Inc. raised its stake in shares of Ardelyx by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,565,800 shares of the biopharmaceutical company's stock worth $47,188,000 after buying an additional 97,951 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Ardelyx in the third quarter worth about $9,384,000. 58.92% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently commented on ARDX. Cantor Fitzgerald reiterated an "overweight" rating on shares of Ardelyx in a report on Thursday, June 20th. StockNews.com downgraded Ardelyx from a "hold" rating to a "sell" rating in a report on Friday. Piper Sandler reiterated an "overweight" rating and issued a $15.00 price objective on shares of Ardelyx in a report on Friday, May 24th. Leerink Partnrs reiterated an "outperform" rating on shares of Ardelyx in a report on Friday, April 5th. Finally, SVB Leerink assumed coverage on Ardelyx in a report on Friday, April 5th. They set an "outperform" rating and a $14.00 price target for the company. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.81.
View Our Latest Stock Report on ARDX
Ardelyx Company Profile
(
Get Free Report)
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.
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