ARDX ARDELYX, INC.
Price Chart
Executive Summary
Four C-suite insiders at Ardelyx sold $141K in open-market sales on the same day (May 21, 2026), including the CEO disposing of $94K worth. While the dollar amount is de minimis relative to the $1.6B market cap (~0.009%), the clustering of C-suite sales on a single date at identical price suggests coordination or a common 10b5-1 plan — not reactive selling to specific negative news. The historical calibration for ARDX shows neutral reports performed poorly on T+20 alpha, but the insider cluster data alone does not warrant a directional call given the trivial proportion of market cap.
Key Financial Metrics
Actionable Insight
The size of insider sales is immaterial, even in a cluster of C-suite officers. Monitor upcoming earnings or pipeline disclosures for any fundamental change, but this cluster alone is not actionable. The identical execution price and date are more consistent with a coordinated 10b5-1 trading plan than with informed selling.
Key Facts
- 4 corporate insiders (including CEO Michael Raab) sold shares on May 21, 2026
- Total insider sales: ~$141K, or ~0.009% of $1.6B market cap
- CEO Michael Raab's sale accounted for $93.6K (66% of total value)
- All sales executed at the same price of $6.2675, suggesting a single trading plan window
- Sales are open-market (code S) — not tax withholding or option exercises
Financial Impact
$141K total insider sales, representing 0.009% of market cap — trivial relative to company size
Risk Factors
- Insiders could be diversifying ahead of a perceived risk — but dollar scale is too small to suggest this
- Sequential 10b5-1 plans across officers may mask future larger sales
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ARDX-1779480758454 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 22, 2026
23d ago
|
Insider Cluster
| $6.25 $5.52 | ▼ −11.68% | ▼ −12.89% | $5.69 (−8.96%) |
|
May 22, 2026
23d ago
|
Insider Cluster
| $6.25 $5.73 | ▼ −8.32% | ▼ −9.40% | $5.69 (−8.96%) |
|
May 19, 2026
26d ago
|
144
| $6.27 $6.25 | ▼ −0.32% | ▼ −2.12% | $5.69 (−9.25%) |
|
Apr 27, 2026
6w ago
|
Press Release
| $5.99 $7.30 | ▲ +21.87% | ▲ +21.47% | $5.69 (−5.01%) |
|
Apr 16, 2026
8w ago
|
Press Release
| $6.28 $5.96 | ▼ −5.10% | ▼ −6.08% | $5.69 (−9.39%) |
|
Mar 9, 2026
13w ago
|
Press Release
| $6.12 $5.83 | ▼ −4.74% | ▼ −3.83% | $5.69 (−7.03%) |
US Market Status
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