David P. Rosenbaum Sells 27,171 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) insider David P. Rosenbaum sold 27,171 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $6.10, for a total value of $165,743.10. Following the transaction, the insider now owns 153,616 shares of the company's stock, valued at $937,057.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Ardelyx Stock Down 20.5 %

Ardelyx stock traded down $1.31 during mid-day trading on Friday, reaching $5.07. The company's stock had a trading volume of 17,382,617 shares, compared to its average volume of 4,920,794. 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 business's 50 day simple moving average is $6.04 and its 200 day simple moving average 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. Ardelyx, Inc. has a 12 month low of $3.43 and a 12 month high of $10.13.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ARDX shares. StockNews.com upgraded shares of Ardelyx from a "sell" rating to a "hold" rating in a research note on Wednesday, July 31st. Citigroup dropped their price objective on shares of Ardelyx from $12.00 to $10.00 and set a "buy" rating for the company in a report on Monday. Wedbush reissued an "outperform" rating and issued a $11.00 target price on shares of Ardelyx in a report on Friday, August 2nd. Finally, HC Wainwright restated a "buy" rating and issued a $11.00 target price on shares of Ardelyx in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $11.33.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ARDX. Redmile Group LLC acquired a new stake in shares of Ardelyx during the 1st quarter worth approximately $16,020,000. Millennium Management LLC raised its stake 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 acquiring an additional 1,883,995 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Ardelyx by 68.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,913,863 shares of the biopharmaceutical company's stock valued at $28,572,000 after purchasing an additional 1,584,597 shares during the last quarter. Vanguard Group Inc. increased its position in Ardelyx by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company's stock worth $97,761,000 after purchasing an additional 365,809 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in 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. 58.92% of the stock is owned by institutional investors and hedge funds.

About Ardelyx

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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