Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) CFO Sells 5,260 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) CFO Justin A. Renz sold 5,260 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total transaction of $25,195.40. Following the transaction, the chief financial officer now directly owns 291,139 shares of the company’s stock, valued at $1,394,555.81. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ardelyx Price Performance

NASDAQ ARDX opened at $5.31 on Friday. The business’s fifty day moving average is $5.84 and its 200 day moving average is $6.16. Ardelyx, Inc. has a fifty-two week low of $4.06 and a fifty-two week high of $10.13. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The company has a market capitalization of $1.26 billion, a PE ratio of -17.70 and a beta of 0.92.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in Ardelyx by 1,026.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 3,233 shares during the period. Redwood Wealth Management Group LLC bought a new stake in shares of Ardelyx during the second quarter valued at approximately $62,000. Coastal Bridge Advisors LLC purchased a new position in shares of Ardelyx in the second quarter worth $74,000. Helen Stephens Group LLC purchased a new position in shares of Ardelyx in the third quarter worth $76,000. Finally, Paloma Partners Management Co bought a new position in shares of Ardelyx during the first quarter worth $86,000. 58.92% of the stock is owned by hedge funds and other institutional investors.

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.