David M. Mott Buys 213,300 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott acquired 213,300 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was purchased at an average price of $4.67 per share, with a total value of $996,111.00. Following the purchase, the director now owns 1,638,765 shares in the company, valued at approximately $7,653,032.55. The trade was a 14.96 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ardelyx Trading Up 1.3 %

NASDAQ:ARDX opened at $4.64 on Wednesday. Ardelyx, Inc. has a 12 month low of $4.32 and a 12 month high of $10.13. 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 firm’s 50 day moving average is $5.42 and its 200 day moving average is $5.81. The stock has a market capitalization of $1.10 billion, a PE ratio of -15.47 and a beta of 0.83.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ARDX. Citigroup decreased their price target on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. HC Wainwright downgraded Ardelyx from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $11.00 to $5.50 in a research note on Monday, November 11th. Three equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.42.

Institutional Trading of Ardelyx

A number of large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew 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 acquiring an additional 3,233 shares during the period. Redwood Wealth Management Group LLC bought a new position in Ardelyx during the second quarter worth about $62,000. Coastal Bridge Advisors LLC purchased a new position in shares of Ardelyx in the second quarter worth about $74,000. Helen Stephens Group LLC bought a new stake in shares of Ardelyx in the third quarter valued at approximately $76,000. Finally, CWM LLC lifted its stake in shares of Ardelyx by 328.1% during 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 in the last quarter. 58.92% of the stock is owned by hedge funds and other institutional investors.

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.