Ardelyx, Inc. (NASDAQ:ARDX) CFO Sells $25,195.40 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) CFO Justin A. Renz sold 5,260 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total value of $25,195.40. Following the completion of the transaction, the chief financial officer now directly owns 291,139 shares in the company, valued at approximately $1,394,555.81. This represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Ardelyx Stock Performance

Shares of NASDAQ:ARDX opened at $5.31 on Friday. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. Ardelyx, Inc. has a 1-year low of $4.06 and a 1-year high of $10.13. The stock has a market capitalization of $1.26 billion, a P/E ratio of -17.70 and a beta of 0.92. The business has a 50-day moving average price of $5.84 and a two-hundred day moving average price of $6.16.

Institutional Investors Weigh In On Ardelyx

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its stake 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 valued at $26,000 after acquiring an additional 3,233 shares during the last quarter. Redwood Wealth Management Group LLC bought a new stake in shares of Ardelyx during the 2nd quarter valued at $62,000. Coastal Bridge Advisors LLC acquired a new position in shares of Ardelyx in the 2nd quarter valued at $74,000. Helen Stephens Group LLC bought a new position in shares of Ardelyx in the 3rd quarter worth $76,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Ardelyx during the first quarter worth $86,000. 58.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ARDX has been the subject of a number of research analyst reports. Citigroup cut their price target on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. 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. StockNews.com upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of Ardelyx in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Ardelyx presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

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.