Y Intercept Hong Kong Ltd Sells 15,972 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Y Intercept Hong Kong Ltd trimmed its position in Ardelyx, Inc. (NASDAQ:ARDX) by 32.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,877 shares of the biopharmaceutical company’s stock after selling 15,972 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Ardelyx were worth $227,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ARDX. Nisa Investment Advisors LLC increased its holdings in shares of Ardelyx by 1,026.3% during the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 3,233 shares in the last quarter. Redwood Wealth Management Group LLC bought a new stake in Ardelyx during the 2nd quarter valued at $62,000. Coastal Bridge Advisors LLC acquired a new position in Ardelyx during the second quarter worth $74,000. Helen Stephens Group LLC bought a new position in shares of Ardelyx in the third quarter valued at $76,000. Finally, CWM LLC grew its holdings in shares of Ardelyx by 328.1% during the third 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 last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.

Ardelyx Price Performance

Ardelyx stock opened at $4.61 on Thursday. Ardelyx, Inc. has a 52 week low of $4.32 and a 52 week high of $10.13. The company’s 50 day moving average price is $5.50 and its two-hundred day moving average price is $5.86. The stock has a market cap of $1.09 billion, a P/E ratio of -15.37 and a beta of 0.83. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64.

Insider Activity at Ardelyx

In other news, CEO Michael Raab sold 25,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $5.26, for a total transaction of $131,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,150,385 shares of the company’s stock, valued at $6,051,025.10. This represents a 2.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David P. Rosenbaum sold 49,564 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $6.92, for a total transaction of $342,982.88. Following the sale, the insider now owns 301,946 shares of the company’s stock, valued at approximately $2,089,466.32. The trade was a 14.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 236,756 shares of company stock valued at $1,374,538. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARDX. HC Wainwright lowered shares of Ardelyx from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $11.00 to $5.50 in a report on Monday, November 11th. Citigroup dropped their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.42.

Ardelyx 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.