Insider Buying: Ardelyx, Inc. (NASDAQ:ARDX) Director Acquires 213,300 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) Director David M. Mott purchased 213,300 shares of the business's stock in a transaction on Thursday, December 19th. The shares were bought at an average price of $4.67 per share, with a total value of $996,111.00. Following the purchase, the director now directly owns 1,638,765 shares in the company, valued at approximately $7,653,032.55. The trade was a 14.96 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Ardelyx Stock Performance

ARDX stock traded down $0.24 during mid-day trading on Monday, hitting $4.58. The company had a trading volume of 3,569,324 shares, compared to its average volume of 4,888,104. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The firm has a market cap of $1.08 billion, a PE ratio of -15.27 and a beta of 0.83. Ardelyx, Inc. has a 12 month low of $4.32 and a 12 month high of $10.13. The stock's fifty day moving average price is $5.45 and its two-hundred day moving average price is $5.83.

Institutional Investors Weigh In On Ardelyx

A number of hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in Ardelyx by 1,026.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 3,233 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of Ardelyx in the second quarter worth about $62,000. Coastal Bridge Advisors LLC bought a new stake in shares of Ardelyx in the second quarter valued at approximately $74,000. Helen Stephens Group LLC purchased a new stake in shares of Ardelyx during the 3rd quarter valued at approximately $76,000. Finally, CWM LLC boosted its holdings in Ardelyx by 328.1% in the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company's stock worth $88,000 after buying an additional 9,821 shares during the period. Institutional investors own 58.92% of the company's stock.

Wall Street Analysts Forecast Growth

ARDX has been the subject of several recent analyst reports. HC Wainwright lowered shares of Ardelyx from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $11.00 to $5.50 in a research note on Monday, November 11th. Citigroup dropped their target price on shares of Ardelyx from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.