Ardelyx, Inc. (NASDAQ:ARDX) Shares Sold by Fmr LLC

Fmr LLC lowered its position in Ardelyx, Inc. (NASDAQ:ARDX) by 60.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,110 shares of the biopharmaceutical company’s stock after selling 32,686 shares during the quarter. Fmr LLC’s holdings in Ardelyx were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ARDX. Millennium Management LLC grew its stake in shares of Ardelyx by 142.8% during the second quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock valued at $23,735,000 after acquiring an additional 1,883,995 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Ardelyx during the 2nd quarter worth $645,000. Simplify Asset Management Inc. grew its stake in shares of Ardelyx by 70.9% in the second quarter. Simplify Asset Management Inc. now owns 598,000 shares of the biopharmaceutical company’s stock worth $4,431,000 after purchasing an additional 248,000 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Ardelyx by 283.9% during the 2nd quarter. Principal Financial Group Inc. now owns 471,453 shares of the biopharmaceutical company’s stock valued at $3,493,000 after purchasing an additional 348,642 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Ardelyx by 375.9% during the 2nd quarter. Squarepoint Ops LLC now owns 460,689 shares of the biopharmaceutical company’s stock valued at $3,414,000 after purchasing an additional 363,894 shares in the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Insider Activity at Ardelyx

In other news, CEO Michael Raab sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $5.26, for a total transaction of $131,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,150,385 shares in the company, valued at approximately $6,051,025.10. This represents a 2.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Laura A. Williams sold 7,366 shares of Ardelyx stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total value of $35,283.14. Following the completion of the transaction, the insider now owns 308,745 shares in the company, valued at approximately $1,478,888.55. The trade was a 2.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,756 shares of company stock valued at $1,374,538. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ARDX has been the subject of several research analyst reports. Citigroup reduced their price target on shares of 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 shares of Ardelyx from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $11.00 to $5.50 in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.42.

Ardelyx Stock Up 2.8 %

NASDAQ:ARDX opened at $4.82 on Monday. The stock has a 50-day simple moving average of $5.45 and a 200 day simple moving average of $5.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. Ardelyx, Inc. has a 52-week low of $4.32 and a 52-week high of $10.13. The company has a market cap of $1.14 billion, a PE ratio of -16.07 and a beta of 0.83.

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.