Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott Acquires 199,000 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott purchased 199,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were bought at an average price of $4.99 per share, for a total transaction of $993,010.00. Following the acquisition, the director now owns 1,937,765 shares in the company, valued at $9,669,447.35. This trade represents a 11.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ardelyx Stock Up 2.9 %

ARDX stock opened at $5.05 on Thursday. The stock has a market cap of $1.20 billion, a P/E ratio of -16.83 and a beta of 0.85. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. Ardelyx, Inc. has a twelve month low of $4.32 and a twelve month high of $10.13. The company’s 50 day moving average is $5.15 and its two-hundred day moving average is $5.65.

Analyst Ratings Changes

ARDX has been the topic of a number of recent research reports. Citigroup cut their target price 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. Jefferies Financial Group dropped their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $5.50 price objective on shares of Ardelyx in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.25.

Institutional Investors Weigh In On Ardelyx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of Ardelyx by 1.5% during the third quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock worth $83,657,000 after purchasing an additional 176,789 shares during the last quarter. Eventide Asset Management LLC boosted its position in shares of Ardelyx by 11.2% in the 3rd quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company’s stock valued at $51,076,000 after purchasing an additional 746,067 shares during the period. Geode Capital Management LLC grew its stake in Ardelyx by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,487,742 shares of the biopharmaceutical company’s stock worth $37,818,000 after buying an additional 17,296 shares during the last quarter. Millennium Management LLC increased its position in Ardelyx by 142.8% during the second quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock worth $23,735,000 after buying an additional 1,883,995 shares during the period. Finally, Rubric Capital Management LP lifted its stake in Ardelyx by 68.5% in the third quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock valued at $21,085,000 after buying an additional 1,243,606 shares during 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.