Ardelyx (NASDAQ:ARDX) Stock Price Down 3.7% – Time to Sell?

Ardelyx, Inc. (NASDAQ:ARDX)’s stock price traded down 3.7% during trading on Wednesday . The stock traded as low as $5.39 and last traded at $5.41. 2,107,034 shares changed hands during trading, a decline of 58% from the average session volume of 5,037,286 shares. The stock had previously closed at $5.62.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ARDX shares. Citigroup decreased their price target on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 4th. HC Wainwright restated a “neutral” rating and issued a $5.50 price objective on shares of Ardelyx in a report on Thursday. Finally, Jefferies Financial Group decreased their target price on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ardelyx has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Ardelyx Trading Down 2.9 %

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 firm has a market capitalization of $1.19 billion, a P/E ratio of -16.70 and a beta of 0.85. The firm has a 50 day moving average price of $5.15 and a two-hundred day moving average price of $5.67.

Insider Activity at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 41,666 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $5.31, for a total transaction of $221,246.46. Following the completion of the sale, the chief executive officer now directly owns 1,129,552 shares of the company’s stock, valued at approximately $5,997,921.12. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David M. Mott bought 213,300 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was purchased at an average cost of $4.67 per share, for a total transaction of $996,111.00. Following the completion of the transaction, the director now owns 1,638,765 shares of the company’s stock, valued at $7,653,032.55. This represents a 14.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 218,358 shares of company stock worth $1,189,516 in the last quarter. 5.90% of the stock is owned by company insiders.

Institutional Trading of Ardelyx

Several large investors have recently added to or reduced their stakes in ARDX. Coastal Bridge Advisors LLC purchased a new position in shares of Ardelyx during the second quarter valued at $74,000. Helen Stephens Group LLC acquired a new stake in Ardelyx during the 3rd quarter worth about $76,000. CWM LLC grew its stake in Ardelyx by 328.1% during the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 9,821 shares in the last quarter. Aigen Investment Management LP increased its holdings 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 valued at $162,000 after purchasing an additional 5,346 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of Ardelyx in the second quarter worth approximately $174,000. 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.