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 on Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total value of $25,195.40. Following the completion of the sale, the chief financial officer now directly owns 291,139 shares in the company, valued at $1,394,555.81. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Ardelyx Trading Up 3.7 %

Shares of NASDAQ ARDX opened at $5.31 on Monday. 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 business’s 50 day moving average price is $5.84 and its 200-day moving average price is $6.12. Ardelyx, Inc. has a fifty-two week low of $4.06 and a fifty-two week high of $10.13. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -17.70 and a beta of 0.92.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. World Equity Group Inc. increased its holdings in Ardelyx by 15.4% during the 2nd quarter. World Equity Group Inc. now owns 18,402 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 2,453 shares during the period. Nisa Investment Advisors LLC increased its holdings 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 worth $26,000 after purchasing an additional 3,233 shares during the period. ProShare Advisors LLC increased its holdings in shares of 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 acquiring an additional 4,735 shares during the period. Aigen Investment Management LP increased its holdings in shares of Ardelyx by 29.4% in the 3rd quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company’s stock valued at $162,000 after acquiring an additional 5,346 shares during the period. Finally, Values First Advisors Inc. increased its holdings in shares of Ardelyx by 14.6% in the 3rd quarter. Values First Advisors Inc. now owns 46,282 shares of the biopharmaceutical company’s stock valued at $319,000 after acquiring an additional 5,890 shares during the period. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.