Ardelyx Inc (NASDAQ:ARDX)’s stock price shot up 4.1% during trading on Thursday . The stock traded as high as $3.50 and last traded at $3.57, 32,854 shares traded hands during trading. A decline of 76% from the average session volume of 139,414 shares. The stock had previously closed at $3.43.
Separately, ValuEngine raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.08.
The firm’s 50 day moving average is $2.51 and its 200 day moving average is $2.84. The company has a market cap of $226.08 million, a PE ratio of -2.22 and a beta of 1.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.79 and a quick ratio of 7.79.
In other Ardelyx news, CEO Michael Raab sold 10,054 shares of Ardelyx stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $2.54, for a total transaction of $25,537.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 18,787 shares of company stock valued at $47,753. 15.31% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its position in Ardelyx by 297.1% during the first quarter. BNP Paribas Arbitrage SA now owns 9,289 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 6,950 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Ardelyx in the 2nd quarter worth approximately $29,000. Citadel Advisors LLC bought a new stake in shares of Ardelyx in the 2nd quarter worth approximately $37,000. Northern Trust Corp lifted its holdings in shares of Ardelyx by 2.8% in the 2nd quarter. Northern Trust Corp now owns 530,420 shares of the biopharmaceutical company’s stock worth $1,427,000 after acquiring an additional 14,315 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Ardelyx by 9.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 185,219 shares of the biopharmaceutical company’s stock worth $498,000 after acquiring an additional 16,049 shares during the last quarter. Institutional investors and hedge funds own 73.29% of the company’s stock.
About Ardelyx (NASDAQ:ARDX)
Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.
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