Laura A. Williams Sells 39,949 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Laura A. Williams sold 39,949 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $8.35, for a total value of $333,574.15. Following the transaction, the insider now owns 370,189 shares in the company, valued at approximately $3,091,078.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ardelyx Price Performance

Shares of NASDAQ:ARDX traded up $0.16 during midday trading on Tuesday, hitting $9.31. The company had a trading volume of 4,871,358 shares, compared to its average volume of 6,302,973. The company has a current ratio of 4.53, a quick ratio of 4.36 and a debt-to-equity ratio of 0.66. Ardelyx, Inc. has a 12-month low of $3.16 and a 12-month high of $10.13. The company has a fifty day moving average of $7.67 and a two-hundred day moving average of $6.87.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $46.00 million during the quarter, compared to analyst estimates of $36.40 million. Ardelyx had a negative return on equity of 41.65% and a negative net margin of 41.36%. Ardelyx’s revenue was up 303.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) EPS. As a group, analysts anticipate that Ardelyx, Inc. will post -0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ARDX shares. Leerink Partnrs reissued an “outperform” rating on shares of Ardelyx in a research report on Friday, April 5th. Citigroup boosted their price target on Ardelyx from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler upped their price objective on Ardelyx from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ardelyx in a research report on Friday, January 12th. Finally, Wedbush upped their price objective on Ardelyx from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ardelyx has a consensus rating of “Moderate Buy” and a consensus target price of $12.81.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP boosted its holdings in shares of Ardelyx by 1,183.6% during the 3rd quarter. GSA Capital Partners LLP now owns 549,695 shares of the biopharmaceutical company’s stock valued at $2,243,000 after purchasing an additional 506,872 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Ardelyx during the 3rd quarter valued at about $320,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ardelyx by 185.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,666,267 shares of the biopharmaceutical company’s stock valued at $6,798,000 after purchasing an additional 1,082,554 shares during the last quarter. Vanguard Group Inc. grew its position in Ardelyx by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,565,800 shares of the biopharmaceutical company’s stock worth $47,188,000 after acquiring an additional 97,951 shares in the last quarter. Finally, TD Asset Management Inc grew its position in Ardelyx by 100.0% in the third quarter. TD Asset Management Inc now owns 273,600 shares of the biopharmaceutical company’s stock worth $1,116,000 after acquiring an additional 136,800 shares in 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.