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

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) CFO Justin A. Renz sold 5,260 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total transaction of $25,195.40. Following the transaction, the chief financial officer now owns 291,139 shares of the company's stock, valued at approximately $1,394,555.81. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ardelyx Price Performance

Shares of ARDX traded up $0.19 during midday trading on Friday, hitting $5.31. 3,795,995 shares of the company traded hands, compared to its average volume of 4,965,173. The stock has a 50-day moving average of $5.86 and a 200-day moving average of $6.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. Ardelyx, Inc. has a one year low of $4.06 and a one year high of $10.13. The firm has a market cap of $1.26 billion, a P/E ratio of -17.70 and a beta of 0.92.

Institutional Trading of Ardelyx

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Ardelyx by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company's stock valued at $97,761,000 after purchasing an additional 365,809 shares in the last quarter. State Street Corp boosted its stake in Ardelyx by 1.5% during the third quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company's stock valued at $83,657,000 after buying an additional 176,789 shares during the period. Eventide Asset Management LLC boosted its stake in Ardelyx by 11.2% during the third quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company's stock valued at $51,076,000 after buying an additional 746,067 shares during the period. Geode Capital Management LLC grew its position in Ardelyx by 0.3% during the third 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Ardelyx by 68.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,913,863 shares of the biopharmaceutical company's stock worth $28,572,000 after acquiring an additional 1,584,597 shares during the last quarter. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. HC Wainwright downgraded shares of Ardelyx from a "buy" rating to a "neutral" rating and reduced their target price for the company from $11.00 to $5.50 in a research report on Monday, November 11th. StockNews.com upgraded Ardelyx from a "sell" rating to a "hold" rating in a research note on Wednesday, July 31st. Citigroup cut their price target 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, Wedbush reissued an "outperform" rating and issued a $11.00 price target 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 issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.