Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) CEO Michael Raab sold 7,500 shares of Ardelyx stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $6.01, for a total value of $45,075.00. Following the sale, the chief executive officer now directly owns 1,210,108 shares in the company, valued at $7,272,749.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Michael Raab also recently made the following trade(s):
- 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 stock was sold at an average price of $5.61, for a total transaction of $196,350.00.
- On Tuesday, August 27th, Michael Raab sold 7,500 shares of Ardelyx stock. The shares were sold at an average price of $6.22, for a total transaction of $46,650.00.
- On Tuesday, August 20th, Michael Raab sold 32,225 shares of Ardelyx stock. The shares were sold at an average price of $5.86, for a total transaction of $188,838.50.
- On Monday, August 12th, Michael Raab sold 1,229 shares of Ardelyx stock. The stock was sold at an average price of $5.71, for a total value of $7,017.59.
- On Monday, July 29th, Michael Raab sold 30,000 shares of Ardelyx stock. The shares were sold at an average price of $5.64, for a total value of $169,200.00.
Ardelyx Stock Down 0.3 %
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Shares of NASDAQ ARDX opened at $5.97 on Wednesday. The stock has a 50 day moving average price of $6.08 and a 200 day moving average price of $6.44. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -21.32 and a beta of 0.90. Ardelyx, Inc. has a 52-week low of $3.33 and a 52-week high of $10.13. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.99 and a current ratio of 4.21.
Ardelyx (NASDAQ:ARDX - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. The business had revenue of $73.20 million for the quarter, compared to the consensus estimate of $55.03 million. Ardelyx had a negative return on equity of 39.73% and a negative net margin of 31.02%. The business's revenue was up 228.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) EPS. Sell-side analysts expect that Ardelyx, Inc. will post -0.25 earnings per share for the current year.
Institutional Investors Weigh In On Ardelyx
Several large investors have recently modified their holdings of the business. Syon Capital LLC purchased a new position in Ardelyx during the fourth quarter valued at approximately $241,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Ardelyx by 37.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 438,827 shares of the biopharmaceutical company's stock worth $3,203,000 after acquiring an additional 118,879 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Ardelyx by 347.4% in the 1st quarter. Principal Financial Group Inc. now owns 122,811 shares of the biopharmaceutical company's stock worth $897,000 after acquiring an additional 95,361 shares in the last quarter. Swiss National Bank lifted its stake in shares of Ardelyx by 6.7% during the 1st quarter. Swiss National Bank now owns 458,300 shares of the biopharmaceutical company's stock worth $3,346,000 after purchasing an additional 28,900 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Ardelyx by 100.7% during the first quarter. Russell Investments Group Ltd. now owns 536,297 shares of the biopharmaceutical company's stock valued at $3,915,000 after purchasing an additional 269,046 shares in the last quarter. Institutional investors own 58.92% of the company's stock.
Analyst Ratings Changes
Several analysts have recently issued reports on ARDX shares. StockNews.com raised Ardelyx from a "sell" rating to a "hold" rating in a report on Wednesday, July 31st. Wedbush reaffirmed an "outperform" rating and set a $11.00 price target on shares of Ardelyx in a research note on Friday, August 2nd. Piper Sandler cut shares of Ardelyx from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $15.00 to $7.00 in a research note on Tuesday, July 2nd. HC Wainwright upped their target price on shares of Ardelyx from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Finally, Citigroup lifted their price target on Ardelyx from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.67.
Read Our Latest Analysis on ARDX
About Ardelyx
(
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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