Justin A. Renz Sells 5,260 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) CFO Justin A. Renz sold 5,260 shares of Ardelyx stock in a transaction dated 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 $1,394,555.81. This represents a 1.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Ardelyx Stock Performance

ARDX opened at $5.31 on Friday. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average price is $5.84 and its two-hundred day moving average price is $6.16. The firm has a market capitalization of $1.26 billion, a P/E ratio of -17.70 and a beta of 0.92. Ardelyx, Inc. has a 12-month low of $4.06 and a 12-month high of $10.13.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ARDX shares. HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $11.00 to $5.50 in a research report on Monday, November 11th. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Citigroup decreased their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Wedbush reiterated an “outperform” rating and set 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 given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.42.

Hedge Funds Weigh In On Ardelyx

Institutional investors and hedge funds have recently bought and sold shares of the stock. World Equity Group Inc. raised its holdings in shares of Ardelyx by 15.4% in the 2nd quarter. World Equity Group Inc. now owns 18,402 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 2,453 shares in the last quarter. Nisa Investment Advisors LLC raised 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 acquiring an additional 3,233 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Ardelyx by 8.9% during the first quarter. ProShare Advisors LLC now owns 57,729 shares of the biopharmaceutical company’s stock valued at $421,000 after acquiring an additional 4,735 shares during the period. Aigen Investment Management LP boosted its stake 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 in the last quarter. Finally, Values First Advisors Inc. grew its holdings in shares of Ardelyx by 14.6% in the 3rd quarter. Values First Advisors Inc. now owns 46,282 shares of the biopharmaceutical company’s stock worth $319,000 after purchasing an additional 5,890 shares during the last quarter. Institutional investors 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.