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Ardelyx Inc [ARDX] Shares Jump Approximately 41.49% Over the Year

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Ardelyx Inc shares valued at $33,254 were sold by Rosenbaum David P. on Sep 13 ’24. At $6.26 per share, Rosenbaum David P. sold 5,312 shares. The insider’s holdings dropped to 153,616 shares worth approximately $0.91 million following the completion of this transaction.

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Also, RAAB MICHAEL sold 35,000 shares, netting a total of over 196,399 in proceeds. Following the sale of shares at $5.61 each, the insider now holds 1,220,608 shares.

Before that, MICHAEL G. RAAB had added 35,000 shares to its account. In a trade valued at $196,399, the Officer bought Ardelyx Inc shares for $5.61 each.

As published in a research note from Piper Sandler on July 02, 2024, Ardelyx Inc [ARDX] has been rated down from an Overweight to a Neutral and the price target has been revised to $7 from $15. Analysts at Leerink Partners started covering the stock with ‘”an Outperform”‘ outlook in a report released in early April. As of December 18, 2023, Raymond James has initiated its “Strong buy” rating for ARDX. Earlier on September 07, 2023, H.C. Wainwright initiated its rating. Their recommendation was “a Buy” for ARDX stock.

Analyzing ARDX Stock Performance

During the last five days, there has been a drop of approximately -1.01%. Over the course of the year, Ardelyx Inc shares have dropped approximately -4.84%. Shares of the company reached a 52-week high of $10.13 on 02/12/24 and a 52-week low of $5.07 on 07/02/24. A 50-day SMA is recorded $5.86, while a 200-day SMA reached $7.04. Nevertheless, trading volume fell to 2.9 million shares from 1.87 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 5.78, which, if violated, would cause prices to drop to 5.65. In the upper region, resistance lies at 6.09. The next price resistance is at 6.27. RSI (Relative Strength Index) is 48.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.15, which suggests the price will decrease in the coming days. Percent R is at 56.08%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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