Ardelyx (NASDAQ:ARDX) Sees Large Volume Increase

Ardelyx Inc (NASDAQ:ARDX) shares saw unusually-strong trading volume on Monday . Approximately 899,262 shares traded hands during trading, an increase of 419% from the previous session’s volume of 173,166 shares.The stock last traded at $2.97 and had previously closed at $2.47.

Separately, ValuEngine raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $8.08.

The stock has a market capitalization of $190.66 million, a P/E ratio of -2.12 and a beta of 1.87. The business’s 50 day simple moving average is $2.50 and its two-hundred day simple moving average is $2.84. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.77.

Ardelyx (NASDAQ:ARDX) last announced its earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.02). The firm had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.60 million. Analysts predict that Ardelyx Inc will post -1.53 earnings per share for the current year.

In other news, CEO Michael Raab sold 10,054 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $2.54, for a total value of $25,537.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 18,787 shares of company stock valued at $47,753. 15.31% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Ardelyx by 7.4% during the second quarter. BlackRock Inc. now owns 3,627,433 shares of the biopharmaceutical company’s stock worth $9,758,000 after buying an additional 249,537 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Ardelyx by 6.0% during the second quarter. Renaissance Technologies LLC now owns 2,100,070 shares of the biopharmaceutical company’s stock worth $5,649,000 after buying an additional 118,468 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Ardelyx by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,644,481 shares of the biopharmaceutical company’s stock worth $2,944,000 after buying an additional 73,030 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Ardelyx by 16.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 809,476 shares of the biopharmaceutical company’s stock worth $2,177,000 after buying an additional 111,963 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Ardelyx by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 680,329 shares of the biopharmaceutical company’s stock worth $1,217,000 after buying an additional 44,444 shares during the last quarter. Institutional investors and hedge funds own 73.29% of the company’s stock.

Ardelyx Company Profile (NASDAQ:ARDX)

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.

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