Ardelyx Inc.’s filing revealed that its President & CEO RAAB MICHAEL unloaded Company’s shares for reported $40558.0 on Aug 21. In the deal valued at $3.55 per share,11,419 shares were sold. As a result of this transaction, RAAB MICHAEL now holds 876,236 shares worth roughly $ 4.02 million.
Then, Rodriguez Susan sold 4,733 shares, generating $16,811 in total proceeds. Upon selling the shares at $3.55, the Chief Commercial Officer now owns 348,687 shares.
Before that, Renz Justin A sold 2,884 shares. Ardelyx Inc. shares valued at $10,243 were divested by the Chief Financial Officer at a price of $3.55 per share. As a result of the transaction, Renz Justin A now holds 333,849 shares, worth roughly $1.53 million.
Cantor Fitzgerald upgraded its Ardelyx Inc. [ARDX] rating to an Overweight from a a Neutral in a research note published on Tuesday, August 25, 2023; the price target was increased to $10 from $5. PT values the company’s stock at a premium of 54.1 to its Tuesday closing price.
Price Performance Review of ARDX
On Tuesday, Ardelyx Inc. [NASDAQ:ARDX] saw its stock fall -4.77% to $4.59. On the same session, the stock had its day’s lowest price of $4.55, but rose to a high of $4.88. Over the last five days, the stock has gained 8.00%. Ardelyx Inc. shares have risen nearly 61.05% since the year began. Nevertheless, the stocks have risen 384.23% over the past one year. While a 52-week high of $5.12 was reached on 04/17/23, a 52-week low of $0.98 was recorded on 01/04/23. SMA at 50 days reached $3.71, while 200 days put it at $3.46. A total of 7.19 million shares were traded, compared to the trading of 11.08 million shares in the previous session.
Levels Of Support And Resistance For ARDX Stock
The 24-hour chart illustrates a support level at 4.47, which if violated will result in even more drops to 4.34. On the upside, there is a resistance level at 4.80. A further resistance level may holdings at 5.00. The Relative Strength Index (RSI) on the 14-day chart is 65.35, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.60, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 19.86%. Stochastics %K at 92.44% indicates the stock is a selling.
How much short interest is there in Ardelyx Inc.?
A steep rise in short interest was recorded in Ardelyx Inc. stocks on Aug 14, 2023, growing by 1.19 million shares to a total of 27.75 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 26.56 million shares. There was a rise of 4.29%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.97% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.32.
Ardelyx Inc. [ARDX] – Who Are The Largest Shareholders?
In filings from SSgA Funds Management, Inc., it is revealed that the company now owns 22,437,564 shares, or roughly 10.46% of the outstanding ARDX shares. In other words, the investor’s shares have risen by 7,234,448 from its previous 13-F filing of 15203116.0. Additionally, Janus Henderson Investors US LLC decreased -1.29% of its stake after which the total value it holdings stand at $85,589,723, while BlackRock Fund Advisors added 270.20% of its stake to hold $49.89 million in the firm. Over the last quarter, The Vanguard Group, Inc. purchased 2,492,669 shares of Ardelyx Inc., while Millennium Management LLC bought -4,043,377 shares. At present, Geode Capital Management LLC is holding 4,216,166 shares valued at $16.61 million. Intrinsic Edge Capital Management owned 2,452,852 shares of the company at the time of its most recent 13F filing, worth $9.66 million.
According to FactSet, Ardelyx Inc.’s share price will average $8.42 in the next year, based on opinions of analysts polled by the firm. This is up nearly 60.79 percent from its previous closing price of $4.82. Analysts expect Ardelyx Inc. stock to reach the higher price of $12.00, while the lowest price estimate is $6.00. However, 7 analysts have rated ARDX stock as a Buy in their predictions for 2023.