Shares of Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $6.38, but opened at $5.77. Ardelyx shares last traded at $5.05, with a volume of 3,935,413 shares trading hands.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and set a $11.00 price target on shares of Ardelyx in a research note on Friday, November 1st. Wedbush reaffirmed an "outperform" rating and set a $11.00 price target on shares of Ardelyx in a research note on Friday, August 2nd. StockNews.com raised shares of Ardelyx from a "sell" rating to a "hold" rating in a research note on Wednesday, July 31st. Finally, Citigroup decreased their price objective on shares of Ardelyx from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Monday. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ardelyx presently has an average rating of "Moderate Buy" and a consensus price target of $11.33.
View Our Latest Analysis on ARDX
Ardelyx Stock Performance
The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The company's 50-day moving average price is $6.04 and its two-hundred day moving average price is $6.30. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -16.90 and a beta of 0.92.
Insiders Place Their Bets
In related news, CEO Michael Raab sold 32,225 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $5.86, for a total transaction of $188,838.50. Following the sale, the chief executive officer now directly owns 1,227,009 shares of the company's stock, valued at approximately $7,190,272.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael Raab sold 32,225 shares of the firm's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $5.86, for a total transaction of $188,838.50. Following the sale, the chief executive officer now owns 1,227,009 shares of the company's stock, valued at $7,190,272.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David P. Rosenbaum sold 49,564 shares of the firm's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $6.92, for a total transaction of $342,982.88. Following the sale, the insider now directly owns 301,946 shares in the company, valued at approximately $2,089,466.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 266,469 shares of company stock worth $1,626,379. 5.90% of the stock is currently owned by company insiders.
Institutional Trading of Ardelyx
A number of institutional investors have recently made changes to their positions in the stock. Simplify Asset Management Inc. boosted its holdings in shares of Ardelyx by 15.3% during the 3rd quarter. Simplify Asset Management Inc. now owns 689,364 shares of the biopharmaceutical company's stock valued at $4,750,000 after acquiring an additional 91,364 shares during the last quarter. Aigen Investment Management LP lifted its stake in shares of Ardelyx by 29.4% in the 3rd quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company's stock worth $162,000 after purchasing an additional 5,346 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of Ardelyx by 51.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 170,544 shares of the biopharmaceutical company's stock worth $1,175,000 after purchasing an additional 58,219 shares during the period. Tyler Stone Wealth Management lifted its stake in shares of Ardelyx by 87.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 96,850 shares of the biopharmaceutical company's stock worth $667,000 after purchasing an additional 45,055 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Ardelyx by 64.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 45,280 shares of the biopharmaceutical company's stock worth $312,000 after purchasing an additional 17,792 shares during the period. Hedge funds and other institutional investors 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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