James Parker Brady, chief human resources officer of Ardelyx Inc., sold 15,136 common shares on August 21 for a total of $58,378, regulatory filings show. The weighted average sale price was $3.8569 per share, with individual transactions ranging from $3.648 to $3.984.
The disposal was executed under a sell-to-cover agreement triggered by the vesting of restricted stock units, according to a footnote in the Form 4 filed on August 25. Brady retains direct ownership of 245,930 Ardelyx shares following the transaction.
Ardelyx’s stock has declined 42% over the last six months and was trading near $3.81 on August 25, about 1% above its 52-week low of $3.73. The company reported second-quarter revenue of $118 million, a 31% increase year-over-year and its highest quarterly total to date. Despite the revenue growth, Ardelyx revised full-year guidance for its gastrointestinal drug IBSRELA and withdrew its revenue target for XPHOZAH, prompting a sharp after-hours decline in its share price.
Option activity on August 21 included 10,676 put contracts, according to InvestingPro data. The stock is trading in oversold territory but may be undervalued at current levels, the data provider noted.
