ADARx Pharmaceuticals (NASDAQ:ADRX) Major Shareholder Acquires 1,600,000 Shares of Company Stock

ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) major shareholder Sr One Capital Management, Llc purchased 1,600,000 shares of the stock in a transaction on Monday, September 28th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $27,200,000.00. Following the transaction, the insider owned 5,554,094 shares of the company’s stock, valued at approximately $94,419,598. The trade was a 40.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

ADARx Pharmaceuticals Trading Up 2.7%

Shares of NASDAQ:ADRX traded up $0.55 on Tuesday, hitting $20.64. The company had a trading volume of 1,299,367 shares, compared to its average volume of 1,252,283. ADARx Pharmaceuticals, Inc. has a 1-year low of $18.50 and a 1-year high of $23.21.

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.