ARDX Earnings
Thursday, Apr 30 2026
EPS Estimate
$-0.12
$-0.15 – $-0.10
Revenue Estimate
$97M
Current Price
$5.96
Our Position
bearishDirector buys big while insiders flee en masse
structured data
est. revisions rising
(+3026.3pp / 30d)
One director's conviction purchase doesn't override the broader exodus. The 33-to-1 sell ratio and Macquarie's complete exit suggest insiders and major holders see better opportunities elsewhere — or have doubts about ARDX's near-term trajectory. Mott's buy is a contrarian signal, not validation of strength.
Watch: Track whether Mott holds or sells within the next 3-6 months. If he exits soon, the buy was likely a tax-loss harvesting move or forced portfolio rebalancing, not genuine conviction. Any CEO buying would also flip the insider tone from deeply negative to mixed.
Data Signal Summary
1 bullish
2 bearish
Insider selling cluster
Put/call 0.3 (bullish skew)
Price downtrend
Key Context
Insider Activity
selling
Price Trend
downtrend
From 52w High
-7.6%
Est. Revisions (30d)
+1.3% 0up/4dn
Analyst Target (mean)
$16 $13–$19 +170%
Options P/C Ratio
0.26
Est. Dispersion
40% 6 analysts
Insider Cluster
strong sell
Fund Convergence
strong Renaissance, Citadel, Two Sigma, D.E. Shaw
Recent Activity
insider trades
137 transactions
Sell
·
RAAB MICHAEL G (Chief Executive Officer)
·41,666 shares
·$243,329
Exercise
·
RAAB MICHAEL G (Chief Executive Officer)
·20,833 shares
·$20,625
Sell
·
RAAB MICHAEL G (Chief Executive Officer)
·41,666 shares
·$260,621
Sell
·
BISHOP JOHN E (Chief Operating Officer)
·3,179 shares
·$18,586
Buy
·
MOTT DAVID M (Director)
·333,333 shares
·$1,946,331
132 more
Sell
·
WILLIAMS LAURA A
·8,176 shr
·$47,803
Sell
·
KELLIHER MICHAEL
·9,595 shr
·$56,099
Sell
·
FOSTER ERIC DUANE
·10,439 shr
·$61,034
Sell
·
BRADY JAMES PARKER
·2,543 shr
·$14,868
Sell
·
HOHENLEITNER SUSAN
·2,033 shr
·$11,886
Sell
·
RAAB MICHAEL G
·45,982 shr
·$268,841
Award
·
BISHOP JOHN E
·124,330 shr
Award
·
WILLIAMS LAURA A
·82,695 shr
Award
·
KELLIHER MICHAEL
·103,080 shr
Award
·
FOSTER ERIC DUANE
·137,945 shr
Award
·
BRADY JAMES PARKER
·99,455 shr
Award
·
HOHENLEITNER SUSAN
·85,670 shr
Award
·
RAAB MICHAEL G
·446,220 shr
Sell
·
WILLIAMS LAURA A
·50,000 shr
·$348,900
Exercise
·
WILLIAMS LAURA A
·50,000 shr
·$49,500
Sell
·
GRAMMER ELIZABETH A
·5,995 shr
·$33,194
Sell
·
WILLIAMS LAURA A
·6,426 shr
·$35,580
Sell
·
KELLIHER MICHAEL
·5,560 shr
·$30,785
Sell
·
FOSTER ERIC DUANE
·5,814 shr
·$32,192
Sell
·
RAAB MICHAEL G
·46,887 shr
·$259,609
Sell
·
WILLIAMS LAURA A
·80,000 shr
·$489,680
Sell
·
GRAMMER ELIZABETH A
·5,841 shr
·$34,647
Sell
·
RENZ JUSTIN ANDREW
·7,037 shr
·$41,741
Sell
·
WILLIAMS LAURA A
·6,261 shr
·$37,138
Sell
·
KELLIHER MICHAEL
·5,417 shr
·$32,132
Sell
·
FOSTER ERIC DUANE
·15,308 shr
·$90,802
Sell
·
RAAB MICHAEL G
·45,687 shr
·$271,002
Award
·
BERTRAND WILLIAM C JR
·60,941 shr
Award
·
RODGERS RICHARD J.
·63,019 shr
Award
·
MOTT DAVID M
·72,714 shr
Award
·
PARSEY MERDAD V
·15,235 shr
Award
·
CADORET-MANIER ONAIZA
·41,551 shr
Award
·
BHANJI MUNA
·41,551 shr
Award
·
BAZEMORE ROBERT B
·41,551 shr
Buy
·
MOTT DAVID M
·200,000 shr
·$725,880
Buy
·
MOTT DAVID M
·200,000 shr
·$737,260
Sell
·
GRAMMER ELIZABETH A
·5,992 shr
·$24,456
Sell
·
RENZ JUSTIN ANDREW
·7,218 shr
·$29,460
Sell
·
WILLIAMS LAURA A
·6,421 shr
·$26,207
Sell
·
KELLIHER MICHAEL
·14,522 shr
·$59,270
Sell
·
FOSTER ERIC DUANE
·2,507 shr
·$10,232
Sell
·
RAAB MICHAEL G
·46,817 shr
·$191,079
Buy
·
MOTT DAVID M
·100,000 shr
·$329,120
Buy
·
MOTT DAVID M
·381,377 shr
·$1,610,936
Sell
·
RAAB MICHAEL G
·41,666 shr
·$177,168
Award
·
PARSEY MERDAD V
·42,056 shr
Sell
·
RAAB MICHAEL G
·41,666 shr
·$191,151
Sell
·
RAAB MICHAEL G
·41,668 shr
·$223,199
Exercise
·
RAAB MICHAEL G
·20,834 shr
·$20,626
Award
·
GRAMMER ELIZABETH A
·136,680 shr
Award
·
RENZ JUSTIN ANDREW
·136,680 shr
Award
·
WILLIAMS LAURA A
·105,200 shr
Award
·
KELLIHER MICHAEL
·136,680 shr
Award
·
FOSTER ERIC DUANE
·136,680 shr
Award
·
RAAB MICHAEL G
·570,217 shr
Buy
·
MOTT DAVID M
·77,729 shr
·$388,738
Sell
·
GRAMMER ELIZABETH A
·4,291 shr
·$24,128
Sell
·
RENZ JUSTIN ANDREW
·5,171 shr
·$29,077
Sell
·
WILLIAMS LAURA A
·4,941 shr
·$27,783
Sell
·
RAAB MICHAEL G
·22,964 shr
·$129,124
Sell
·
RAAB MICHAEL G
·41,666 shr
·$223,355
Buy
·
MOTT DAVID M
·199,000 shr
·$992,672
Exercise
·
RODGERS RICHARD J.
·100,000 shr
·$55,000
Sell
·
RAAB MICHAEL G
·41,666 shr
·$221,309
Exercise
·
MOTT DAVID M
·100,000 shr
·$55,000
Buy
·
MOTT DAVID M
·213,300 shr
·$996,580
Sell
·
RAAB MICHAEL G
·25,000 shr
·$131,620
Exercise
·
RAAB MICHAEL G
·25,000 shr
·$24,750
Sell
·
RAAB MICHAEL G
·25,000 shr
·$134,482
Sell
·
GRAMMER ELIZABETH A
·7,046 shr
·$33,782
Sell
·
RENZ JUSTIN ANDREW
·5,260 shr
·$25,219
Sell
·
BLANKS ROBERT C.
·4,941 shr
·$23,690
Sell
·
WILLIAMS LAURA A
·7,366 shr
·$35,316
Sell
·
RAAB MICHAEL G
·31,980 shr
·$153,328
Sell
·
ROSENBAUM DAVID PAUL
·7,184 shr
·$34,444
Buy
·
MOTT DAVID M
·215,868 shr
·$996,598
Sell
·
RAAB MICHAEL G
·2,743 shr
·$13,441
Sell
·
ROSENBAUM DAVID PAUL
·27,171 shr
·$165,743
Exercise
·
ROSENBAUM DAVID PAUL
·27,171 shr
·$63,037
Sell
·
ROSENBAUM DAVID PAUL
·27,172 shr
·$161,673
Exercise
·
ROSENBAUM DAVID PAUL
·27,172 shr
·$63,039
Sell
·
RAAB MICHAEL G
·25,000 shr
·$147,740
Sell
·
RAAB MICHAEL G
·7,500 shr
·$45,075
Sell
·
ROSENBAUM DAVID PAUL
·49,564 shr
·$342,983
Sell
·
RAAB MICHAEL G
·3,000 shr
·$18,210
Sell
·
ROSENBAUM DAVID PAUL
·5,312 shr
·$33,254
Sell
·
RAAB MICHAEL G
·35,000 shr
·$196,399
Exercise
·
RAAB MICHAEL G
·35,000 shr
·$34,650
Sell
·
RAAB MICHAEL G
·7,500 shr
·$46,635
Sell
·
GRAMMER ELIZABETH A
·7,089 shr
·$41,544
Sell
·
RENZ JUSTIN ANDREW
·5,289 shr
·$30,995
Sell
·
BLANKS ROBERT C.
·4,969 shr
·$29,120
Sell
·
WILLIAMS LAURA A
·7,412 shr
·$43,437
Sell
·
FELSCH ROBERT ORA
·3,567 shr
·$20,904
Sell
·
RAAB MICHAEL G
·32,225 shr
·$188,848
Sell
·
ROSENBAUM DAVID PAUL
·40,507 shr
·$241,782
Exercise
·
ROSENBAUM DAVID PAUL
·20,507 shr
·$20,302
Sell
·
ROSENBAUM DAVID PAUL
·7,219 shr
·$42,306
Sell
·
RAAB MICHAEL G
·1,229 shr
·$7,018
Award
·
FOSTER ERIC DUANE
·180,000 shr
Sell
·
RAAB MICHAEL G
·30,000 shr
·$169,314
Exercise
·
RAAB MICHAEL G
·30,000 shr
·$29,700
Sell
·
RAAB MICHAEL G
·7,500 shr
·$44,768
Sell
·
RAAB MICHAEL G
·2,310 shr
·$15,223
Sell
·
BLANKS ROBERT C.
·38,000 shr
·$226,290
Award
·
BERTRAND WILLIAM C JR
·11,023 shr
Award
·
RODGERS RICHARD J.
·12,204 shr
Award
·
MOTT DAVID M
·17,322 shr
Sell
·
RAAB MICHAEL G
·35,000 shr
·$232,743
Sell
·
WILLIAMS LAURA A
·145,000 shr
·$1,033,080
Exercise
·
WILLIAMS LAURA A
·100,000 shr
·$275,000
Sell
·
ROSENBAUM DAVID PAUL
·17,872 shr
·$125,104
Sell
·
RAAB MICHAEL G
·7,500 shr
·$50,390
Sell
·
GRAMMER ELIZABETH A
·6,927 shr
·$54,107
Sell
·
RODRIGUEZ SUSAN
·6,703 shr
·$52,357
Sell
·
RENZ JUSTIN ANDREW
·5,167 shr
·$40,359
Sell
·
BLANKS ROBERT C.
·4,855 shr
·$37,922
Sell
·
WILLIAMS LAURA A
·4,794 shr
·$37,446
Sell
·
FELSCH ROBERT ORA
·3,485 shr
·$27,221
Sell
·
RAAB MICHAEL G
·31,484 shr
·$245,922
Sell
·
ROSENBAUM DAVID PAUL
·7,053 shr
·$55,091
Sell
·
RAAB MICHAEL G
·3,000 shr
·$23,970
Sell
·
GRAMMER ELIZABETH A
·284,170 shr
·$2,522,217
Exercise
·
GRAMMER ELIZABETH A
·219,937 shr
·$410,787
Sell
·
FELSCH ROBERT ORA
·207,988 shr
·$1,831,503
Exercise
·
FELSCH ROBERT ORA
·119,101 shr
·$176,445
Sell
·
GRAMMER ELIZABETH A
·45,000 shr
·$405,000
Sell
·
WILLIAMS LAURA A
·39,949 shr
·$333,574
Exercise
·
WILLIAMS LAURA A
·30,000 shr
·$29,700
Sell
·
RAAB MICHAEL G
·30,000 shr
·$192,057
Sell
·
RAAB MICHAEL G
·7,500 shr
·$52,924
Sell
·
RAAB MICHAEL G
·41,668 shr
·$261,954
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