Ardelyx, Inc. (NASDAQ:ARDX) Insider Laura A. Williams Sells 7,366 Shares

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) insider Laura A. Williams sold 7,366 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total value of $35,283.14. Following the completion of the transaction, the insider now owns 308,745 shares in the company, valued at approximately $1,478,888.55. The trade was a 2.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Ardelyx Stock Performance

Ardelyx stock traded up $0.19 during mid-day trading on Friday, reaching $5.31. 3,795,995 shares of the company's stock were exchanged, compared to its average volume of 4,965,173. The firm has a market capitalization of $1.26 billion, a PE ratio of -17.70 and a beta of 0.92. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. The business's fifty day simple moving average is $5.86 and its 200 day simple moving average is $6.18. Ardelyx, Inc. has a one year low of $4.06 and a one year high of $10.13.

Hedge Funds Weigh In On Ardelyx

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Ardelyx by 2.8% during the first 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 during the period. Clay Northam Wealth Management LLC raised its stake in Ardelyx by 154.7% in the 2nd quarter. Clay Northam Wealth Management LLC now owns 232,377 shares of the biopharmaceutical company's stock valued at $1,722,000 after acquiring an additional 141,145 shares during the period. ProShare Advisors LLC lifted its holdings in Ardelyx by 8.9% during the first quarter. ProShare Advisors LLC now owns 57,729 shares of the biopharmaceutical company's stock valued at $421,000 after purchasing an additional 4,735 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Ardelyx by 283.2% during the second quarter. SG Americas Securities LLC now owns 91,672 shares of the biopharmaceutical company's stock valued at $679,000 after purchasing an additional 67,750 shares during the last quarter. Finally, Millennium Management LLC boosted 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 purchasing an additional 1,883,995 shares during the period. 58.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ARDX. Citigroup lowered their price objective on shares of Ardelyx from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, November 4th. HC Wainwright downgraded Ardelyx from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $11.00 to $5.50 in a research note on Monday, November 11th. StockNews.com upgraded Ardelyx from a "sell" rating to a "hold" rating in a report on Wednesday, July 31st. Finally, Wedbush restated an "outperform" rating and set a $11.00 price objective on shares of Ardelyx in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently 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.

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