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Ardelyx Inc [ARDX] Investment Appeal on the Rise

In a filing, Ardelyx Inc revealed its insider GRAMMER ELIZABETH A unloaded Company’s shares for reported $2.52 million on May 06 ’24. In the deal valued at $8.88 per share,284,170 shares were sold. As a result of this transaction, GRAMMER ELIZABETH A now holds 203,760 shares worth roughly $1.63 million.

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Then, Felsch Robert Ora sold 207,988 shares, generating $1,831,503 in total proceeds. Upon selling the shares at $8.81, the insider now owns 95,947 shares.

Before that, GRAMMER ELIZABETH A sold 45,000 shares. Ardelyx Inc shares valued at $405,000 were divested by the insider at a price of $9.00 per share. As a result of the transaction, GRAMMER ELIZABETH A now holds 267,993 shares, worth roughly $2.15 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 3.22% to $8.02. Over the last five days, the stock has lost -12.35%. Ardelyx Inc shares have risen nearly 29.35% since the year began. Nevertheless, the stocks have risen 86.95% 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 $7.60, while 200 days put it at $6.06. A total of 3.57 million shares were traded, compared to the trading of 5.05 million shares in the previous session.

Levels Of Support And Resistance For ARDX Stock

The 24-hour chart illustrates a support level at 7.83, which if violated will result in even more drops to 7.63. On the upside, there is a resistance level at 8.15. A further resistance level may holdings at 8.27. The Relative Strength Index (RSI) on the 14-day chart is 55.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.46, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 42.26%. Stochastics %K at 55.48% indicates the stock is a holding.

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