David M. Mott Buys 213,300 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott purchased 213,300 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average cost of $4.67 per share, for a total transaction of $996,111.00. Following the completion of the transaction, the director now owns 1,638,765 shares in the company, valued at approximately $7,653,032.55. This trade represents a 14.96 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Ardelyx Trading Up 1.3 %

Shares of Ardelyx stock opened at $4.64 on Thursday. Ardelyx, Inc. has a 52-week low of $4.32 and a 52-week high of $10.13. The firm has a market capitalization of $1.10 billion, a PE ratio of -15.47 and a beta of 0.83. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The company’s fifty day moving average price is $5.39 and its two-hundred day moving average price is $5.80.

Institutional Trading of Ardelyx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its holdings in 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 position in shares of Ardelyx during the 2nd quarter worth approximately $62,000. Coastal Bridge Advisors LLC acquired a new stake in Ardelyx in the 2nd quarter valued at $74,000. Helen Stephens Group LLC bought a new stake in Ardelyx in the third quarter valued at $76,000. Finally, CWM LLC raised its stake in Ardelyx by 328.1% during the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 9,821 shares in the last quarter. Institutional investors own 58.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their price objective on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. HC Wainwright lowered shares of Ardelyx from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $11.00 to $5.50 in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.