Ardelyx (NASDAQ:ARDX) Stock Price Down 3.8% – What’s Next?

Ardelyx, Inc. (NASDAQ:ARDX) shares fell 3.8% during mid-day trading on Tuesday . The stock traded as low as $4.99 and last traded at $5.05. Approximately 1,903,364 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 4,875,531 shares. The stock had previously closed at $5.25.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ARDX shares. Citigroup decreased their price objective 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 downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $11.00 to $5.50 in a research note on Monday, November 11th. Three investment 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

Ardelyx Stock Down 3.4 %

The company has a market cap of $1.20 billion, a P/E ratio of -16.90 and a beta of 0.83. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The company has a 50 day moving average of $5.30 and a 200-day moving average of $5.74.

Insider Transactions at Ardelyx

In other news, CEO Michael Raab sold 25,000 shares of Ardelyx stock in a transaction on Monday, October 28th. The shares were sold at an average price of $5.91, for a total transaction of $147,750.00. Following the completion of the sale, the chief executive officer now directly owns 1,210,108 shares of the company’s stock, valued at approximately $7,151,738.28. The trade was a 2.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David P. Rosenbaum sold 27,172 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $5.95, for a total transaction of $161,673.40. Following the completion of the transaction, the insider now owns 153,616 shares of the company’s stock, valued at $914,015.20. This trade represents a 15.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,192 shares of company stock valued at $1,013,345. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Ardelyx

Hedge funds have recently bought and sold shares of the company. Redwood Wealth Management Group LLC purchased a new position in shares of Ardelyx during the second quarter worth approximately $62,000. Coastal Bridge Advisors LLC bought a new stake in Ardelyx in the second quarter worth $74,000. Helen Stephens Group LLC purchased a new stake in Ardelyx during the third quarter valued at about $76,000. CWM LLC grew its stake in shares of Ardelyx by 328.1% during the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 9,821 shares during the last quarter. Finally, Aigen Investment Management LP increased its holdings in shares of Ardelyx by 29.4% in the third quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 5,346 shares during the period. Institutional investors own 58.92% of the company’s stock.

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.