Ardelyx (NASDAQ:ARDX) Insider Laura Williams Sells 6,261 Shares

Key Points

• Laura Williams, an insider at Ardelyx, sold 6,261 shares of the company's stock at an average price of $5.93, totaling approximately $37,127.73, and now owns 396,322 shares.
• Ardelyx reported quarterly earnings of ($0.08) per share, beating expectations, with revenue of $97.66 million, a 23% increase year-over-year.
• Institutional investors have recently increased their holdings in Ardelyx, with particular increases from Janus Henderson Group PLC and Bank of America Corp DE, resulting in institutional ownership of 58.92% of the company.

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) insider Laura Williams sold 6,261 shares of Ardelyx stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $5.93, for a total transaction of $37,127.73. Following the completion of the transaction, the insider directly owned 396,322 shares in the company, valued at $2,350,189.46. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ardelyx Price Performance

NASDAQ:ARDX traded down $0.05 during mid-day trading on Monday, reaching $6.06. The stock had a trading volume of 2,878,433 shares, compared to its average volume of 4,696,685. The stock has a 50-day simple moving average of $4.63 and a two-hundred day simple moving average of $4.66. The stock has a market capitalization of $1.46 billion, a PE ratio of -26.35 and a beta of 0.68. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.30 and a quick ratio of 4.03. Ardelyx, Inc. has a 12 month low of $3.21 and a 12 month high of $7.18.

Ardelyx (NASDAQ:ARDX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.05. The business had revenue of $97.66 million for the quarter, compared to analysts' expectations of $82.69 million. Ardelyx had a negative net margin of 14.60% and a negative return on equity of 36.57%. The firm's quarterly revenue was up 23.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) earnings per share. On average, equities analysts anticipate that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ARDX shares. UBS Group set a $12.00 price target on Ardelyx in a research note on Tuesday, August 5th. Piper Sandler increased their price target on Ardelyx from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Citigroup dropped their price target on Ardelyx from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Wedbush reiterated an "outperform" rating and issued a $14.00 price target (up from $13.00) on shares of Ardelyx in a research note on Tuesday, August 5th. Finally, HC Wainwright started coverage on Ardelyx in a research note on Wednesday, June 18th. They issued a "buy" rating and a $10.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $11.50.

Institutional Trading of Ardelyx

Institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in Ardelyx by 13.3% in the fourth quarter. Janus Henderson Group PLC now owns 24,387,941 shares of the biopharmaceutical company's stock valued at $123,587,000 after buying an additional 2,858,061 shares during the period. Vanguard Group Inc. lifted its holdings in Ardelyx by 4.4% in the first quarter. Vanguard Group Inc. now owns 14,997,234 shares of the biopharmaceutical company's stock valued at $73,636,000 after buying an additional 634,575 shares during the period. Marshall Wace LLP lifted its holdings in Ardelyx by 34.2% in the second quarter. Marshall Wace LLP now owns 11,250,652 shares of the biopharmaceutical company's stock valued at $44,103,000 after buying an additional 2,866,843 shares during the period. Millennium Management LLC lifted its holdings in Ardelyx by 118.2% in the first quarter. Millennium Management LLC now owns 6,465,262 shares of the biopharmaceutical company's stock valued at $31,744,000 after buying an additional 3,501,782 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Ardelyx by 88.8% in the second quarter. Bank of America Corp DE now owns 5,527,988 shares of the biopharmaceutical company's stock valued at $21,670,000 after buying an additional 2,600,080 shares during the period. Institutional investors own 58.92% of the company's stock.

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.

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