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

Ardelyx, Inc. (NASDAQ:ARDX) insider David P. Rosenbaum sold 27,171 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $6.10, for a total value of $165,743.10. Following the completion of the sale, the insider now owns 153,616 shares in the company, valued at approximately $937,057.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ardelyx Stock Down 20.5 %

NASDAQ ARDX opened at $5.07 on Friday. The business has a fifty day moving average price of $6.04 and a 200 day moving average price of $6.30. Ardelyx, Inc. has a one year low of $3.43 and a one year high of $10.13. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87.

Analyst Ratings Changes

A number of brokerages have issued reports on ARDX. StockNews.com raised Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Citigroup decreased 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 reissued a “buy” rating and issued a $11.00 price target on shares of Ardelyx in a report on Friday, November 1st. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of Ardelyx in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.33.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in 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 during the last quarter. Redwood Wealth Management Group LLC purchased a new position in Ardelyx during the second quarter worth about $62,000. Coastal Bridge Advisors LLC purchased a new position in Ardelyx during the second quarter worth about $74,000. Helen Stephens Group LLC bought a new position in Ardelyx during the 3rd quarter worth approximately $76,000. Finally, Paloma Partners Management Co acquired a new position in shares of Ardelyx in the 1st quarter worth $86,000. 58.92% of the stock is owned by institutional investors and hedge funds.

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.