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 business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total transaction of $35,283.14. Following the completion of the transaction, the insider now directly owns 308,745 shares in the company, valued at $1,478,888.55. This trade represents a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ardelyx Price Performance

NASDAQ ARDX opened at $5.31 on Monday. Ardelyx, Inc. has a 52 week low of $4.06 and a 52 week high of $10.13. The company has a market cap of $1.26 billion, a PE ratio of -17.70 and a beta of 0.92. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. The firm’s 50-day simple moving average is $5.84 and its two-hundred day simple moving average is $6.12.

Institutional Investors Weigh In On Ardelyx

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Ardelyx by 0.3% in the third quarter. Geode Capital Management LLC now owns 5,487,742 shares of the biopharmaceutical company’s stock worth $37,818,000 after buying an additional 17,296 shares in the last quarter. Barclays PLC lifted its holdings in shares of Ardelyx by 24.9% in the third quarter. Barclays PLC now owns 547,325 shares of the biopharmaceutical company’s stock worth $3,770,000 after buying an additional 109,285 shares in the last quarter. State Street Corp lifted its holdings in shares of Ardelyx by 1.5% in the third quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock worth $83,657,000 after buying an additional 176,789 shares in the last quarter. Parallax Volatility Advisers L.P. purchased a new stake in shares of Ardelyx in the third quarter worth about $506,000. Finally, Eventide Asset Management LLC lifted its holdings in shares of Ardelyx by 11.2% in the third quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company’s stock worth $51,076,000 after buying an additional 746,067 shares in the last quarter. 58.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ARDX shares. Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of Ardelyx in a report on Friday, August 2nd. HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and cut their price target for the stock from $11.00 to $5.50 in a report on Monday, November 11th. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Citigroup dropped their price objective 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. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.42.

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.