Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) Director David M. Mott bought 199,000 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was purchased at an average cost of $4.99 per share, for a total transaction of $993,010.00. Following the transaction, the director now owns 1,937,765 shares of the company's stock, valued at $9,669,447.35. This trade represents a 11.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Ardelyx Stock Up 2.9 %
NASDAQ:ARDX traded up $0.14 during trading hours on Wednesday, hitting $5.05. The company's stock had a trading volume of 5,332,058 shares, compared to its average volume of 5,416,012. Ardelyx, Inc. has a 52-week low of $4.32 and a 52-week high of $10.13. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $1.20 billion, a P/E ratio of -16.83 and a beta of 0.85. The stock has a fifty day moving average of $5.15 and a 200-day moving average of $5.65.
Wall Street Analyst Weigh In
A number of brokerages recently commented on ARDX. HC Wainwright restated a "neutral" rating and set a $5.50 target price on shares of Ardelyx in a report on Thursday, January 16th. Jefferies Financial Group decreased their target price on Ardelyx from $11.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Finally, Citigroup lowered 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.25.
Check Out Our Latest Analysis on Ardelyx
Institutional Investors Weigh In On Ardelyx
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC boosted its holdings in shares of Ardelyx by 142.8% in the 2nd quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company's stock valued at $23,735,000 after buying an additional 1,883,995 shares in the last quarter. Rubric Capital Management LP boosted 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 acquiring an additional 1,243,606 shares in the last quarter. Eventide Asset Management LLC increased its position in shares of Ardelyx by 11.2% during the third quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company's stock worth $51,076,000 after purchasing an additional 746,067 shares in the last quarter. Vestal Point Capital LP purchased a new stake in shares of Ardelyx in the 3rd quarter valued at about $3,445,000. Finally, Squarepoint Ops LLC lifted its holdings in shares of Ardelyx by 375.9% in the 2nd quarter. Squarepoint Ops LLC now owns 460,689 shares of the biopharmaceutical company's stock valued at $3,414,000 after purchasing an additional 363,894 shares during the last quarter. Institutional investors and hedge funds own 58.92% of the company's stock.
About Ardelyx
(
Get Free Report)
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.
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