Ardelyx (NASDAQ:ARDX) Shares Down 4.6% – Should You Sell?

Ardelyx, Inc. (NASDAQ:ARDX)’s stock price fell 4.6% during trading on Tuesday . The stock traded as low as $4.73 and last traded at $4.73. 368,908 shares changed hands during trading, a decline of 93% from the average session volume of 4,958,319 shares. The stock had previously closed at $4.96.

Wall Street Analysts Forecast Growth

ARDX has been the subject of several research reports. HC Wainwright cut shares of Ardelyx from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $11.00 to $5.50 in a research report on Monday, November 11th. Wedbush reissued an “outperform” rating and set a $11.00 target price on shares of Ardelyx in a research report on Friday, August 2nd. Citigroup decreased their target price on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.42.

Ardelyx Stock Down 3.6 %

The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -16.53 and a beta of 0.92. The business’s 50-day moving average is $5.92 and its 200-day moving average is $6.23. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64.

Insiders Place Their Bets

In other Ardelyx news, insider David P. Rosenbaum sold 49,564 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $6.92, for a total value of $342,982.88. Following the completion of the transaction, the insider now owns 301,946 shares in the company, valued at approximately $2,089,466.32. This represents a 14.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Raab sold 35,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $5.61, for a total transaction of $196,350.00. Following the completion of the transaction, the chief executive officer now owns 1,220,608 shares of the company’s stock, valued at approximately $6,847,610.88. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,962 shares of company stock worth $1,171,128. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ARDX. Nisa Investment Advisors LLC increased its stake in shares of Ardelyx by 1,026.3% during the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 3,233 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of Ardelyx in the 2nd quarter worth approximately $62,000. Coastal Bridge Advisors LLC acquired a new position in shares of Ardelyx in the 2nd quarter worth approximately $74,000. Helen Stephens Group LLC acquired a new stake in Ardelyx during the 3rd quarter worth approximately $76,000. Finally, Paloma Partners Management Co acquired a new stake in Ardelyx during the 1st quarter worth approximately $86,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

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.