The sale is routine and pre-planned under a 10b5-1 program, with consistent monthly sales observed. No material negative signal — monitor for any acceleration in insider selling or changes to the 10b5-1 plan.
Price Chart
Executive Summary
Director Michael Raab filed a Form 144 notice of intent to sell 125,000 shares of Ardelyx common stock, with an approximate market value of $711,250 as of the filing date. The shares are to be sold through Morgan Stanley and include shares acquired from stock option exercises, restricted stock unit vesting, and employee stock purchase plan purchases. The filing indicates a pre-arranged 10b5-1 trading plan, with prior sales under the plan in March, April, and May 2026.
Key Facts
- Director Michael Raab filed Form 144 to sell 125,000 shares of ARDX common stock.
- Estimated sale value: $711,250 based on filing date.
- Sale is part of a pre-arranged 10b5-1 trading plan with prior sales in March, April, and May 2026.
- Shares to be sold include those from stock option exercises, RSU vesting, and ESPP purchases.
- Raab is both a director and officer of Ardelyx.
Financial Impact
Proposed sale of 125,000 shares valued at approximately $711,250, representing roughly 0.05% of Ardelyx's $1.4B market cap.
Risk Factors
- Insider selling could increase if the 10b5-1 plan is expanded or if other insiders follow suit.
- No direct operational risk from this filing.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001950047-26-006116 |
| Document: 0001950047-26-006116-index.html | 0001950047-26-006116 |
| Document: 0001950047-26-006116.txt | 0001950047-26-006116 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 22d ago | Press Release | $3.39 | awaiting T+20 | — | $2.99 (−11.73%) |
Aug 25, 2026 8w ago | Insider Cluster | $3.83 $3.45 | ▼ −9.92% | ▼ −10.15% | $2.99 (−21.87%) |
Aug 25, 2026 8w ago | Insider Cluster | $3.83 $3.45 | ▼ −9.92% | ▼ −10.15% | $2.99 (−21.87%) |
Aug 21, 2026 9w ago | 144 | $3.74 $3.62 | ▼ −3.21% | ▼ −4.52% | $2.99 (−19.99%) |
Aug 21, 2026 9w ago | 144 | $3.74 $3.62 | ▼ −3.21% | ▼ −4.52% | $2.99 (−19.99%) |
Aug 17, 2026 10w ago | 8-K | $3.92 $3.40 | ▼ −13.27% | ▼ −12.28% | $2.99 (−23.66%) |
Aug 15, 2026 10w ago | Institutional Cluster | $4.06 $3.52 | ▼ −13.30% | ▼ −11.77% | $2.99 (−26.30%) |
Jul 2, 2026 16w ago | 8-K | $5.27 $5.04 | ▼ −4.36% | ▼ −3.95% | $2.99 (−43.22%) |
Jun 17, 2026 18w ago | 8-K | $6.05 $5.13 | ▼ −15.29% | ▼ −15.82% | $2.99 (−50.54%) |
Jun 15, 2026 19w ago | 144 | $5.67 $5.16 | ▼ −8.99% | ▼ −9.19% | $2.99 (−47.22%) |
US Market Status
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