In a filing, Ardelyx Inc revealed its President & CEO RAAB MICHAEL unloaded Company’s shares for reported $0.19 million on Apr 29 ’24. In the deal valued at $6.40 per share,30,000 shares were sold. As a result of this transaction, RAAB MICHAEL now holds 1,310,933 shares worth roughly $12.0 million.
Then, RAAB MICHAEL sold 7,500 shares, generating $52,924 in total proceeds. Upon selling the shares at $7.06, the President & CEO now owns 1,310,933 shares.
Before that, RAAB MICHAEL sold 1,518 shares. Ardelyx Inc shares valued at $11,097 were divested by the President & CEO at a price of $7.31 per share. As a result of the transaction, RAAB MICHAEL now holds 1,318,433 shares, worth roughly $12.06 million.
Leerink Partners initiated its Ardelyx Inc [ARDX] rating to an Outperform in a research note published on April 05, 2024; the price target was $14. A number of analysts have revised their coverage, including Raymond James’s analysts, who began to cover the stock in mid December with a ‘”a Strong buy”‘ rating. H.C. Wainwright began covering ARDX with “Buy” recommendation on September 07, 2023. Cantor Fitzgerald revised its rating on August 25, 2023. It rated ARDX as “an Overweight” which previously was an “a Neutral”.
Price Performance Review of ARDX
On Monday, Ardelyx Inc [NASDAQ:ARDX] saw its stock jump 4.93% to $9.15. Over the last five days, the stock has gained 41.64%. Ardelyx Inc shares have risen nearly 47.58% since the year began. Nevertheless, the stocks have risen 94.68% over the past one year. While a 52-week high of $10.13 was reached on 02/12/24, a 52-week low of $3.16 was recorded on 01/03/24. SMA at 50 days reached $7.71, while 200 days put it at $5.94. A total of 11.04 million shares were traded, compared to the trading of 6.97 million shares in the previous session.
Levels Of Support And Resistance For ARDX Stock
The 24-hour chart illustrates a support level at 8.75, which if violated will result in even more drops to 8.35. On the upside, there is a resistance level at 9.41. A further resistance level may holdings at 9.67. The Relative Strength Index (RSI) on the 14-day chart is 76.59, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.39, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.95%. Stochastics %K at 79.12% indicates the stock is a holding.
