The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ardelyx Inc shares valued at $131,620 were sold by RAAB MICHAEL on Dec 10 ’24. At $5.26 per share, RAAB MICHAEL sold 25,000 shares. The insider’s holdings dropped to 1,150,385 shares worth approximately $5.4 million following the completion of this transaction.
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Also, MICHAEL G. RAAB purchased 25,000 shares, netting a total of over 131,618 in proceeds.
Before that, RAAB MICHAEL had sold 25,000 shares from its account. In a trade valued at $134,482, the President & CEO traded Ardelyx Inc shares for $5.38 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $5.4 million.
As published in a research note from H.C. Wainwright on November 11, 2024, Ardelyx Inc [ARDX] has been rated down from a Buy to a Neutral and the price target has been revised to $5.50 from $11. Analysts at Piper Sandler downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early July. As of April 05, 2024, Leerink Partners has initiated its “an Outperform” rating for ARDX. Earlier on December 18, 2023, Raymond James initiated its rating. Their recommendation was “a Strong buy” for ARDX stock.
Analyzing ARDX Stock Performance
During the last five days, there has been a drop of approximately -10.50%. Over the course of the year, Ardelyx Inc shares have dropped approximately -24.35%. Shares of the company reached a 52-week high of $10.13 on 02/12/24 and a 52-week low of $4.32 on 12/18/24. A 50-day SMA is recorded $5.48, while a 200-day SMA reached $6.34. Nevertheless, trading volume fell to 5.72 million shares from 7.28 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 4.56, which, if violated, would cause prices to drop to 4.43. In the upper region, resistance lies at 4.79. The next price resistance is at 4.89. RSI (Relative Strength Index) is 37.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.60, which suggests the price will decrease in the coming days. Percent R is at 76.13%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of Ardelyx Inc (ARDX)?
On September 07, 2023, H.C. Wainwright assigned a price target of “a Buy” to the stock and initiated coverage with a $9.
