Insider Selling: Ardelyx (NASDAQ:ARDX) Insider Sells $41,452.54 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Laura Williams sold 10,739 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $41,452.54. Following the sale, the insider directly owned 367,456 shares of the company’s stock, valued at $1,418,380.16. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ardelyx Trading Down 0.3%

Shares of ARDX stock opened at $3.82 on Friday. The company has a market capitalization of $951.91 million, a P/E ratio of -17.36 and a beta of 0.70. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.69. The business’s 50 day moving average is $4.89 and its two-hundred day moving average is $5.70. Ardelyx, Inc. has a twelve month low of $3.72 and a twelve month high of $8.40.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Ardelyx had a negative return on equity of 36.00% and a negative net margin of 12.35%.The company had revenue of $120.88 million for the quarter, compared to analysts’ expectations of $121.03 million. During the same quarter last year, the company earned ($0.08) EPS. Ardelyx’s revenue for the quarter was up 34.3% compared to the same quarter last year. Equities analysts forecast that Ardelyx, Inc. will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its position in shares of Ardelyx by 397.4% during the 2nd quarter. California State Teachers Retirement System now owns 1,507,739 shares of the biopharmaceutical company’s stock worth $7,689,000 after purchasing an additional 1,204,602 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of Ardelyx by 8.2% in the 2nd quarter. Headlands Technologies LLC now owns 240,796 shares of the biopharmaceutical company’s stock valued at $1,228,000 after purchasing an additional 18,264 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Ardelyx by 10.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 486,412 shares of the biopharmaceutical company’s stock valued at $2,481,000 after purchasing an additional 45,738 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Ardelyx by 7.0% in the 2nd quarter. Hsbc Holdings PLC now owns 100,550 shares of the biopharmaceutical company’s stock valued at $509,000 after purchasing an additional 6,619 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Ardelyx in the second quarter valued at about $11,034,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen reduced their target price on shares of Ardelyx from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Piper Sandler dropped their price target on shares of Ardelyx from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Weiss Ratings lowered shares of Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. Citigroup cut their price target on shares of Ardelyx from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, August 10th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Ardelyx in a research report on Tuesday, June 16th. They issued a “buy” rating and a $16.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Ardelyx presently has an average rating of “Moderate Buy” and an average target price of $13.90.

Ardelyx Company Profile

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.