insider Blanks Robert sold 100,000 shares of Ardelyx Inc. [ARDX]

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The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ardelyx Inc. shares valued at $150,000 were sold by Blanks Robert on Oct 05. At $1.50 per share, Blanks Robert sold 100,000 shares. The insider’s holdings dropped to 195,827 shares worth approximately $0.29 million following the completion of this transaction.


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Also, Rosenbaum David P. sold 3,000 shares, netting a total of over 2,760 in proceeds. Following the sale of shares at $0.92 each, the insider now holds 89,369 shares.

Before that, Rosenbaum David P. had added 3,000 shares to its account. In a trade valued at $1,856, the Chief Development Officer bought Ardelyx Inc. shares for $0.62 each. Upon closing the transaction, the insider’s holdings increased to 3,000 shares, worth approximately $0.14 million.

As published in a research note from Cantor Fitzgerald on May 06, 2022, Ardelyx Inc. [ARDX] has been rated down from an Overweight to a Neutral and the price target has been revised to $1 from $7. This represents a -48.0% premium over Thursday’s closing price. Analysts at Ladenburg Thalmann upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early December. As of October 14, 2021, Ladenburg Thalmann has decreased its “Buy” rating to a “Neutral” for ARDX. Earlier on July 21, 2021, Jefferies downgraded its rating. Their new recommendation was “a Hold” for ARDX stock which previously was a “a Buy”.

Analyzing ARDX Stock Performance

On Thursday, Ardelyx Inc. [NASDAQ: ARDX] rose 0.68% to $1.48. The stock’s lowest price that day was $1.42, but it reached a high of $1.535 in the same session. During the last five days, there has been a surge of approximately 7.25%. Over the course of the year, Ardelyx Inc. shares have jumped approximately 34.55%. Shares of the company reached a 52-week high of $1.6400 on 10/06/22 and a 52-week low of $0.4902 on 06/16/22. A 50-day SMA is recorded $1.3091, while a 200-day SMA reached $0.9237. Nevertheless, trading volume fell to 2.47 million shares from 2.35 million shares the previous day.

Support And Resistance Levels for Ardelyx Inc. (ARDX)

According to the 24-hour chart, there is a support level at 1.4217, which, if violated, would cause prices to drop to 1.3633. In the upper region, resistance lies at 1.5367. The next price resistance is at 1.5933. RSI (Relative Strength Index) is 55.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0517, which suggests the price will decrease in the coming days. Percent R is at 44.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Ardelyx Inc. subject to short interest?

Stocks of Ardelyx Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.32 million shares to 10.84 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 12.16 million shares. A decline of -12.18% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.11 of the overall float, the days-to-cover ratio (short ratio) decline to 3.11.

Which companies own the most shares of Ardelyx Inc. (ARDX)?

According to Deep Track Capital LP filings, the company currently owns 14,252,831 shares, which is about 9.22% of the total ARDX shares outstanding. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $6,161,922. Point72 Asset Management LP acquire a 412,781.92% interest valued at $5.95 million while AIGH Capital Management LLC purchased a 658,819 stake. A total of 2,163,520 shares of Ardelyx Inc. were bought by Prosight Management LP during the quarter, and -648,215 were sold by Solas Capital Management LLC. In its current portfolio, Pekin Hardy Strauss, Inc. holds 1,736,155 shares valued at $2.07 million.

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