Ardelyx Inc (NASDAQ:ARDX) shares saw unusually-high trading volume on Monday . Approximately 899,262 shares changed 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 Ardelyx from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.08.
The stock has a market capitalization of $135.02 million, a price-to-earnings ratio of -1.83 and a beta of 1.87. The company has a quick ratio of 7.41, a current ratio of 7.79 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average of $2.47 and a two-hundred day moving average of $2.82.
Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.60 million. As a group, sell-side analysts predict that Ardelyx Inc will post -1.53 EPS for the current year.
In related news, CEO Michael Raab sold 10,054 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $2.54, for a total transaction of $25,537.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 18,787 shares of company stock worth $47,753 over the last three months. 15.31% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ARDX. BNP Paribas Arbitrage SA grew its stake in Ardelyx by 297.1% in the first quarter. BNP Paribas Arbitrage SA now owns 9,289 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 6,950 shares in the last quarter. Jane Street Group LLC purchased a new position in Ardelyx in the second quarter valued at about $29,000. Citadel Advisors LLC purchased a new position in Ardelyx in the second quarter valued at about $37,000. Bailard Inc. purchased a new position in Ardelyx in the first quarter valued at about $65,000. Finally, SG Americas Securities LLC purchased a new position in Ardelyx in the second quarter valued at about $69,000. Hedge funds and other institutional investors 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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