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 firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total transaction of $35,283.14. Following the sale, the insider now owns 308,745 shares of the company’s stock, valued at approximately $1,478,888.55. The trade was a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ardelyx Stock Up 3.7 %

ARDX stock opened at $5.31 on Friday. The company’s 50 day moving average price is $5.84 and its 200 day moving average price is $6.16. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -17.70 and a beta of 0.92. Ardelyx, Inc. has a fifty-two week low of $4.06 and a fifty-two week high of $10.13. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03.

Institutional Investors Weigh In On Ardelyx

Large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in shares of 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 last quarter. Redwood Wealth Management Group LLC acquired a new stake in Ardelyx in the second quarter valued at $62,000. Coastal Bridge Advisors LLC acquired a new stake in Ardelyx in the second quarter valued at $74,000. Helen Stephens Group LLC purchased a new stake in Ardelyx during the 3rd quarter worth about $76,000. Finally, Paloma Partners Management Co acquired a new position in shares of Ardelyx during the 1st quarter worth about $86,000. 58.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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