Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells 41,666 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 41,666 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $4.59, for a total value of $191,246.94. Following the completion of the sale, the chief executive officer now owns 1,615,587 shares of the company’s stock, valued at $7,415,544.33. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, March 7th, Michael Raab sold 41,668 shares of Ardelyx stock. The shares were sold at an average price of $5.36, for a total value of $223,340.48.
• On Thursday, February 20th, Michael Raab sold 22,964 shares of Ardelyx stock. The stock was sold at an average price of $5.62, for a total value of $129,057.68.
• 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 transaction of $223,329.76.

Ardelyx Trading Down 2.7 %

NASDAQ:ARDX traded down $0.12 on Tuesday, reaching $4.33. The company’s stock had a trading volume of 5,457,454 shares, compared to its average volume of 4,361,025. Ardelyx, Inc. has a 1-year low of $4.15 and a 1-year high of $9.33. The business’s 50-day moving average price is $5.34 and its two-hundred day moving average price is $5.46. The firm has a market cap of $1.03 billion, a PE ratio of -27.06 and a beta of 0.81. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58.

Ardelyx (NASDAQ:ARDX) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $116.13 million during the quarter, compared to analyst estimates of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. Equities research analysts anticipate that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ardelyx

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Ardelyx by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,938,778 shares of the biopharmaceutical company’s stock valued at $13,358,000 after buying an additional 40,702 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Ardelyx by 274.3% in the third quarter. BNP Paribas Financial Markets now owns 181,387 shares of the biopharmaceutical company’s stock valued at $1,250,000 after acquiring an additional 132,928 shares during the period. State Street Corp grew its stake in shares of Ardelyx by 1.5% in the third quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock valued at $83,657,000 after acquiring an additional 176,789 shares in the last quarter. Barclays PLC increased its position in Ardelyx by 24.9% during the third quarter. Barclays PLC now owns 547,325 shares of the biopharmaceutical company’s stock worth $3,770,000 after acquiring an additional 109,285 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Ardelyx by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,487,742 shares of the biopharmaceutical company’s stock valued at $37,818,000 after purchasing an additional 17,296 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

Wall Street Analysts Forecast Growth

ARDX has been the subject of several research reports. LADENBURG THALM/SH SH restated a “buy” rating and set a $11.00 price target on shares of Ardelyx in a report on Friday, March 7th. BTIG Research assumed coverage on shares of Ardelyx in a research report on Tuesday, March 4th. They issued a “buy” rating and a $14.00 target price for the company. Jefferies Financial Group lowered their price target on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. HC Wainwright reiterated a “neutral” rating and set a $5.50 price objective on shares of Ardelyx in a report on Friday, February 21st. Finally, Piper Sandler raised Ardelyx to a “hold” rating in a research report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ardelyx presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.61.

Ardelyx Company Profile

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.