Insider Selling: Ardelyx (NASDAQ:ARDX) Insider Sells $58,424.96 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider James Parker Brady sold 15,136 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $3.86, for a total value of $58,424.96. Following the sale, the insider directly owned 245,930 shares in the company, valued at $949,289.80. This trade represents a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ardelyx Stock Performance

NASDAQ ARDX traded up $0.04 during trading hours on Tuesday, hitting $3.78. The company’s stock had a trading volume of 3,418,138 shares, compared to its average volume of 5,069,888. Ardelyx, Inc. has a 12 month low of $3.72 and a 12 month high of $8.40. The company’s 50 day simple moving average is $4.97 and its two-hundred day simple moving average is $5.75. The company has a market cap of $941.94 million, a P/E ratio of -17.18 and a beta of 0.70. The company has a debt-to-equity ratio of 1.69, a current ratio of 3.34 and a quick ratio of 3.15.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $120.88 million during the quarter, compared to analysts’ expectations of $121.03 million. Ardelyx had a negative return on equity of 36.00% and a negative net margin of 12.35%.Ardelyx’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) EPS. As a group, sell-side analysts expect that Ardelyx, Inc. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Ardelyx

Several institutional investors have recently made changes to their positions in ARDX. Northwestern Mutual Wealth Management Co. bought a new position in Ardelyx in the 2nd quarter worth $35,000. SCS Capital Management LLC bought a new position in shares of Ardelyx in the second quarter worth about $52,000. ADAR1 Capital Management LLC purchased a new position in shares of Ardelyx during the 2nd quarter valued at about $56,000. State of Wyoming bought a new position in shares of Ardelyx during the 2nd quarter valued at approximately $61,000. Finally, PVG Asset Management Corp purchased a new stake in Ardelyx in the 1st quarter worth approximately $65,000. Institutional investors own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

ARDX has been the subject of several research reports. Citigroup decreased their price objective 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. TD Cowen cut their target price on shares of Ardelyx from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Zacks Research lowered shares of Ardelyx from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. Weiss Ratings cut Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. Finally, Wedbush restated an “outperform” rating and issued a $9.00 price target on shares of Ardelyx in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.