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

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott acquired 199,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was bought at an average cost of $4.99 per share, with a total value of $993,010.00. Following the completion of the transaction, the director now directly owns 1,937,765 shares in the company, valued at $9,669,447.35. The trade was a 11.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ardelyx Price Performance

NASDAQ:ARDX opened at $5.51 on Friday. The firm’s fifty day moving average is $5.17 and its two-hundred day moving average is $5.65. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -18.37 and a beta of 0.85. 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 one year low of $4.32 and a one year high of $10.13.

Institutional Trading of Ardelyx

A number of hedge funds have recently modified their holdings of ARDX. XTX Topco Ltd acquired a new position in Ardelyx in the second quarter valued at approximately $446,000. Public Employees Retirement Association of Colorado purchased a new position in shares of Ardelyx during the 2nd quarter valued at approximately $182,000. Squarepoint Ops LLC lifted its stake in shares of Ardelyx by 375.9% in 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 during the period. Caxton Associates LP purchased a new stake in Ardelyx during the second quarter worth $259,000. Finally, Alpha DNA Investment Management LLC acquired a new stake in Ardelyx during the second quarter valued at $456,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

ARDX has been the subject of a number of research analyst reports. 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. Citigroup reduced their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, HC Wainwright reiterated a “neutral” rating and set a $5.50 price target on shares of Ardelyx in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.25.

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.