Ardelyx Inc’s filing revealed that its President & CEO RAAB MICHAEL unloaded Company’s shares for reported $0.15 million on Oct 28 ’24. In the deal valued at $5.91 per share,25,000 shares were sold. As a result of this transaction, RAAB MICHAEL now holds 1,210,108 shares worth roughly $7.13 million.
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Then, MICHAEL G. RAAB bought 25,000 shares, generating $147,740 in total proceeds.
Before that, RAAB MICHAEL sold 7,500 shares. Ardelyx Inc shares valued at $45,075 were divested by the President & CEO at a price of $6.01 per share. As a result of the transaction, RAAB MICHAEL now holds 1,210,108 shares, worth roughly $7.13 million.
Piper Sandler downgraded its Ardelyx Inc [ARDX] rating to a Neutral from a an Overweight in a research note published on July 02, 2024; the price target was decreased to $7 from $15. A number of analysts have revised their coverage, including Leerink Partners’s analysts, who began to cover the stock in early April with a ‘”an Outperform”‘ rating. Raymond James began covering ARDX with “Strong buy” recommendation on December 18, 2023. H.C. Wainwright started covering the stock on September 07, 2023. It rated ARDX as “a Buy”.
Price Performance Review of ARDX
On Monday, Ardelyx Inc [NASDAQ:ARDX] saw its stock fall -3.28% to $5.89. Over the last five days, the stock has lost -0.17%. Ardelyx Inc shares have fallen nearly -5.00% since the year began. Nevertheless, the stocks have risen 46.88% over the past one year. While a 52-week high of $10.13 was reached on 02/12/24, a 52-week low of $3.43 was recorded on 07/02/24. SMA at 50 days reached $6.06, while 200 days put it at $6.96.
Levels Of Support And Resistance For ARDX Stock
The 24-hour chart illustrates a support level at 5.75, which if violated will result in even more drops to 5.61. On the upside, there is a resistance level at 6.04. A further resistance level may holdings at 6.19. The Relative Strength Index (RSI) on the 14-day chart is 47.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.80%. Stochastics %K at 53.08% indicates the stock is a holding.
How much short interest is there in Ardelyx Inc?
A steep rise in short interest was recorded in Ardelyx Inc stocks on 2024-10-15, dropping by -3.04 million shares to a total of 22.89 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 25.93 million shares. There was a decline of -13.29%, which implies that there is a negative sentiment for the stock.
