ADARx Pharmaceuticals (NASDAQ:ADRX) Director Purchases $16,150,000.00 in Stock

ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) Director Orbimed Advisors Llc bought 950,000 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were acquired at an average cost of $17.00 per share, with a total value of $16,150,000.00. Following the completion of the transaction, the director owned 14,325,529 shares in the company, valued at approximately $243,533,993. The trade was a 7.10% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

ADARx Pharmaceuticals Stock Down 6.6%

Shares of NASDAQ:ADRX opened at $18.25 on Friday. ADARx Pharmaceuticals, Inc. has a fifty-two week low of $17.84 and a fifty-two week high of $23.21.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of ADARx Pharmaceuticals to a “hold” rating in a research report on Saturday.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing RNA-based medicines for immune-mediated and other serious diseases. The company is headquartered in San Diego, California, and uses proprietary technologies designed to modulate disease-related proteins at the RNA level.

ADARx’s pipeline includes investigational therapies intended to address conditions involving the complement system, coagulation pathways and other biologic mechanisms. Its programs are designed to provide targeted, durable treatment through approaches such as RNA interference and related forms of RNA-based therapeutic intervention.

Founded in 2018, ADARx has advanced its drug candidates through preclinical and clinical development and has pursued regulatory and clinical activities in the United States and other international markets.