David M. Mott Purchases 199,000 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott bought 199,000 shares of Ardelyx stock in a transaction that occurred on Tuesday, January 21st. The stock was bought at an average price of $4.99 per share, with a total value of $993,010.00. Following the completion of the acquisition, the director now owns 1,937,765 shares in the company, valued at approximately $9,669,447.35. The trade was a 11.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Ardelyx Stock Up 0.2 %

Shares of ARDX opened at $5.52 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The company has a 50-day simple moving average of $5.18 and a 200-day simple moving average of $5.65. Ardelyx, Inc. has a 52 week low of $4.32 and a 52 week high of $10.13. The firm has a market capitalization of $1.31 billion, a P/E ratio of -18.40 and a beta of 0.85.

Analysts Set New Price Targets

A number of research firms have recently commented on ARDX. Citigroup dropped their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. HC Wainwright reissued a “neutral” rating and set a $5.50 target price on shares of Ardelyx in a research report on Thursday, January 16th. Finally, Jefferies Financial Group decreased their price target on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Ardelyx currently has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Hedge Funds Weigh In On Ardelyx

Several large investors have recently added to or reduced their stakes in the company. KBC Group NV grew its holdings in shares of Ardelyx by 101.8% during the 4th quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 6,915 shares in the last quarter. Coastal Bridge Advisors LLC bought a new position in Ardelyx in the second quarter worth $74,000. Helen Stephens Group LLC acquired a new stake in Ardelyx during the third quarter worth $76,000. CWM LLC increased its holdings in Ardelyx by 328.1% in the 3rd 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 period. Finally, Heck Capital Advisors LLC acquired a new position in shares of Ardelyx in the 4th quarter valued at $121,000. Institutional investors and hedge funds 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.