Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) Insider Sells 7,366 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Laura A. Williams sold 7,366 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total value of $35,283.14. Following the completion of the transaction, the insider now directly owns 308,745 shares of the company’s stock, valued at $1,478,888.55. The trade was a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ardelyx Price Performance

ARDX stock traded up $0.19 during midday trading on Friday, reaching $5.31. The company had a trading volume of 3,795,995 shares, compared to its average volume of 4,965,173. Ardelyx, Inc. has a 1 year low of $4.06 and a 1 year high of $10.13. The firm has a 50-day moving average price of $5.86 and a 200-day moving average price of $6.18. The company has a market capitalization of $1.26 billion, a P/E ratio of -17.70 and a beta of 0.92. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of Ardelyx in a research note on Friday, August 2nd. Citigroup decreased their target price on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, HC Wainwright cut shares of Ardelyx from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $11.00 to $5.50 in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

Institutional Investors Weigh In On Ardelyx

Several hedge funds have recently added to or reduced their stakes in ARDX. Geode Capital Management LLC boosted its stake in shares of Ardelyx by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,487,742 shares of the biopharmaceutical company’s stock valued at $37,818,000 after purchasing an additional 17,296 shares in the last quarter. Barclays PLC lifted its stake in shares of Ardelyx by 24.9% in the 3rd quarter. Barclays PLC now owns 547,325 shares of the biopharmaceutical company’s stock valued at $3,770,000 after acquiring an additional 109,285 shares during the last quarter. State Street Corp grew its position in Ardelyx by 1.5% during the 3rd quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock worth $83,657,000 after acquiring an additional 176,789 shares during the last quarter. Parallax Volatility Advisers L.P. purchased a new position in Ardelyx in the 3rd quarter worth approximately $506,000. Finally, Eventide Asset Management LLC lifted its position in Ardelyx by 11.2% in the third quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company’s stock valued at $51,076,000 after purchasing an additional 746,067 shares during the last quarter. Institutional investors own 58.92% of the company’s stock.

Ardelyx Company Profile

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company’s lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.