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Michael Raab Sells 23,128 Shares of Ardelyx Inc (NASDAQ:ARDX) Stock

Last updated on Monday, July 6, 2020 | 2020 MarketBeat

Ardelyx Inc (NASDAQ:ARDX) CEO Michael Raab sold 23,128 shares of the firm's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $7.01, for a total transaction of $162,127.28.

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

  • On Monday, June 1st, Michael Raab sold 23,128 shares of Ardelyx stock. The stock was sold at an average price of $7.33, for a total transaction of $169,528.24.
  • On Monday, May 4th, Michael Raab sold 15,941 shares of Ardelyx stock. The stock was sold at an average price of $7.01, for a total transaction of $111,746.41.
  • On Friday, April 17th, Michael Raab sold 9,428 shares of Ardelyx stock. The shares were sold at an average price of $7.02, for a total value of $66,184.56.
  • On Wednesday, April 15th, Michael Raab sold 500 shares of Ardelyx stock. The stock was sold at an average price of $7.03, for a total value of $3,515.00.

NASDAQ ARDX traded up $0.19 on Monday, hitting $7.02. 598,200 shares of the company were exchanged, compared to its average volume of 808,298. Ardelyx Inc has a 1-year low of $2.10 and a 1-year high of $8.81. The firm has a 50 day moving average of $7.07 and a two-hundred day moving average of $6.94. The company has a current ratio of 9.76, a quick ratio of 9.76 and a debt-to-equity ratio of 0.26. The company has a market cap of $631.40 million, a P/E ratio of -5.36 and a beta of 2.02.

Ardelyx (NASDAQ:ARDX) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, hitting the Zacks' consensus estimate of ($0.25). Ardelyx had a negative net margin of 1,403.90% and a negative return on equity of 77.23%. The company had revenue of $1.21 million during the quarter, compared to the consensus estimate of $0.90 million. Research analysts anticipate that Ardelyx Inc will post -1.05 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of ARDX. Ameritas Investment Partners Inc. boosted its position in Ardelyx by 60.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,443 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 2,050 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Ardelyx by 43.2% in the fourth quarter. Meeder Asset Management Inc. now owns 6,969 shares of the biopharmaceutical company's stock valued at $52,000 after acquiring an additional 2,104 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in Ardelyx in the first quarter valued at about $63,000. Victory Capital Management Inc. increased its position in Ardelyx by 21.0% in the fourth quarter. Victory Capital Management Inc. now owns 9,547 shares of the biopharmaceutical company's stock worth $68,000 after purchasing an additional 1,657 shares during the period. Finally, Caxton Associates LP bought a new stake in Ardelyx during the 4th quarter worth about $92,000. 86.08% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have issued reports on ARDX shares. Cowen reiterated a "buy" rating on shares of Ardelyx in a research note on Wednesday, June 17th. BidaskClub lowered shares of Ardelyx from a "buy" rating to a "hold" rating in a report on Friday, May 29th. Zacks Investment Research cut shares of Ardelyx from a "buy" rating to a "hold" rating in a research report on Tuesday, June 2nd. Finally, ValuEngine raised shares of Ardelyx from a "sell" rating to a "hold" rating in a research note on Wednesday, March 18th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Ardelyx currently has a consensus rating of "Buy" and a consensus target price of $11.25.

About Ardelyx

Ardelyx, Inc, a biopharmaceutical company, develops and sells medicines for the treatment of cardiorenal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase 3 clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase 3 clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.

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