Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott Purchases 213,300 Shares

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott bought 213,300 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average cost of $4.67 per share, with a total value of $996,111.00. Following the completion of the purchase, the director now owns 1,638,765 shares in the company, valued at $7,653,032.55. This represents a 14.96 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ardelyx Stock Down 5.0 %

Shares of Ardelyx stock traded down $0.24 on Monday, reaching $4.58. 3,569,324 shares of the company were exchanged, compared to its average volume of 4,888,104. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $5.45 and a 200 day moving average of $5.83. Ardelyx, Inc. has a one year low of $4.32 and a one year high of $10.13. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -15.27 and a beta of 0.83.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARDX. Nisa Investment Advisors LLC lifted its stake in shares of Ardelyx by 1,026.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 3,233 shares during the last quarter. Redwood Wealth Management Group LLC bought a new stake in shares of Ardelyx during the 2nd quarter valued at $62,000. Coastal Bridge Advisors LLC acquired a new stake in shares of Ardelyx during the 2nd quarter worth $74,000. Helen Stephens Group LLC bought a new position in shares of Ardelyx in the third quarter worth $76,000. Finally, CWM LLC raised its stake in Ardelyx by 328.1% in the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 9,821 shares in the last quarter. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARDX has been the topic of a number of research analyst reports. Citigroup dropped their price objective on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. HC Wainwright cut Ardelyx from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $11.00 to $5.50 in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Ardelyx presently has an average rating of “Moderate Buy” and a consensus price target of $10.42.

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.