Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) CFO Sells $25,195.40 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) CFO Justin A. Renz sold 5,260 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 291,139 shares of the company’s stock, valued at approximately $1,394,555.81. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ardelyx Trading Up 3.7 %

NASDAQ ARDX opened at $5.31 on Monday. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. Ardelyx, Inc. has a twelve month low of $4.06 and a twelve month high of $10.13. The firm has a market capitalization of $1.26 billion, a PE ratio of -17.70 and a beta of 0.92. The stock’s 50 day moving average is $5.84 and its 200 day moving average is $6.12.

Institutional Investors Weigh In On Ardelyx

Several hedge funds have recently made changes to their positions in ARDX. Nisa Investment Advisors LLC boosted its position in shares of Ardelyx by 1,026.3% during the second 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. 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 bought a new stake in shares of Ardelyx during the second quarter valued at approximately $74,000. Helen Stephens Group LLC bought a new stake in shares of Ardelyx during the third quarter valued at approximately $76,000. Finally, Paloma Partners Management Co bought a new stake in Ardelyx in the first quarter worth $86,000. 58.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ARDX has been the subject of several analyst reports. HC Wainwright downgraded Ardelyx from a “buy” rating to a “neutral” rating and cut their target price for the stock from $11.00 to $5.50 in a research note on Monday, November 11th. 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 cut their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, StockNews.com upgraded Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Three research 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 company’s stock. According to MarketBeat, Ardelyx 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.