Laura A. Williams Sells 7,366 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Laura A. Williams sold 7,366 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 308,745 shares in the company, valued at approximately $1,478,888.55. This represents a 2.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Ardelyx Stock Up 3.7 %

ARDX stock opened at $5.31 on Friday. Ardelyx, Inc. has a 52 week low of $4.06 and a 52 week high of $10.13. 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 has a 50-day simple moving average of $5.84 and a 200-day simple moving average of $6.16. The stock has a market capitalization of $1.26 billion, a P/E ratio of -17.70 and a beta of 0.92.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Ardelyx

Institutional investors have recently bought and sold shares of the company. World Equity Group Inc. lifted its position in shares of Ardelyx by 15.4% in the second quarter. World Equity Group Inc. now owns 18,402 shares of the biopharmaceutical company’s stock valued at $136,000 after acquiring an additional 2,453 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Ardelyx by 1,026.3% in 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 in the last quarter. ProShare Advisors LLC lifted its holdings in Ardelyx by 8.9% in the 1st quarter. ProShare Advisors LLC now owns 57,729 shares of the biopharmaceutical company’s stock valued at $421,000 after purchasing an additional 4,735 shares in the last quarter. Aigen Investment Management LP boosted its stake in Ardelyx by 29.4% during the 3rd quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company’s stock worth $162,000 after purchasing an additional 5,346 shares during the last quarter. Finally, Values First Advisors Inc. grew its holdings in shares of Ardelyx by 14.6% during the third quarter. Values First Advisors Inc. now owns 46,282 shares of the biopharmaceutical company’s stock worth $319,000 after buying an additional 5,890 shares in the last quarter. 58.92% of the stock is currently owned by institutional investors and hedge funds.

About Ardelyx

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.