ADARx Pharmaceuticals (NASDAQ:ADRX) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of ADARx Pharmaceuticals (NASDAQ:ADRX) to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

ADARx Pharmaceuticals Stock Performance

Shares of NASDAQ ADRX opened at $18.25 on Friday. ADARx Pharmaceuticals has a 1-year low of $17.84 and a 1-year high of $23.21.

Insider Buying and Selling at ADARx Pharmaceuticals

In other news, Director Orbimed Advisors Llc purchased 950,000 shares of the business’s stock in a transaction on Monday, September 28th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $16,150,000.00. Following the completion of the acquisition, 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 legal filing with the SEC, which can be accessed through this link. Also, Director Simeon George acquired 1,600,000 shares of ADARx Pharmaceuticals stock in a transaction on Monday, September 28th. The stock was purchased at an average cost of $17.00 per share, with a total value of $27,200,000.00. Following the purchase, the director directly owned 5,554,094 shares of the company’s stock, valued at approximately $94,419,598. This trade represents a 40.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 5,161,516 shares of company stock worth $87,745,772 in the last quarter.

ADARx Pharmaceuticals Company Profile

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.