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.
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.
Key Financial Metrics
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
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ARDX-1779480758454 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 22d ago | Press Release | $3.39 | awaiting T+20 | — | $3.00 (−11.50%) |
Aug 25, 2026 9w ago | Insider Cluster | $3.83 $3.45 | ▼ −9.92% | ▼ −10.15% | $3.00 (−21.67%) |
Aug 25, 2026 9w ago | Insider Cluster | $3.83 $3.45 | ▼ −9.92% | ▼ −10.15% | $3.00 (−21.67%) |
Aug 21, 2026 9w ago | 144 | $3.74 $3.62 | ▼ −3.21% | ▼ −4.52% | $3.00 (−19.79%) |
Aug 21, 2026 9w ago | 144 | $3.74 $3.62 | ▼ −3.21% | ▼ −4.52% | $3.00 (−19.79%) |
Aug 17, 2026 10w ago | 8-K | $3.92 $3.40 | ▼ −13.27% | ▼ −12.28% | $3.00 (−23.47%) |
Aug 15, 2026 10w ago | Institutional Cluster | $4.06 $3.52 | ▼ −13.30% | ▼ −11.77% | $3.00 (−26.11%) |
Jul 2, 2026 16w ago | 8-K | $5.27 $5.04 | ▼ −4.36% | ▼ −3.95% | $3.00 (−43.07%) |
Jun 17, 2026 18w ago | 8-K | $6.05 $5.13 | ▼ −15.29% | ▼ −15.82% | $3.00 (−50.41%) |
Jun 15, 2026 19w ago | 144 | $5.67 $5.16 | ▼ −8.99% | ▼ −9.19% | $3.00 (−47.09%) |
US Market Status
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