Y Intercept Hong Kong Ltd Sells 15,972 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Y Intercept Hong Kong Ltd cut its position in Ardelyx, Inc. (NASDAQ:ARDX) by 32.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,877 shares of the biopharmaceutical company’s stock after selling 15,972 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Ardelyx were worth $227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ARDX. Nisa Investment Advisors LLC lifted its stake in Ardelyx by 1,026.3% during the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 3,233 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ardelyx by 34.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,176 shares of the biopharmaceutical company’s stock valued at $468,000 after buying an additional 16,198 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Ardelyx by 283.9% in the second quarter. Principal Financial Group Inc. now owns 471,453 shares of the biopharmaceutical company’s stock valued at $3,493,000 after buying an additional 348,642 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Ardelyx in the second quarter valued at about $832,000. Finally, Ausdal Financial Partners Inc. raised its stake in Ardelyx by 89.1% during the second quarter. Ausdal Financial Partners Inc. now owns 28,770 shares of the biopharmaceutical company’s stock worth $213,000 after acquiring an additional 13,557 shares in the last quarter. Institutional investors own 58.92% of the company’s stock.

Insider Activity at Ardelyx

In other Ardelyx news, insider Laura A. Williams sold 7,366 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total transaction of $35,283.14. Following the sale, the insider now owns 308,745 shares of the company’s stock, valued at approximately $1,478,888.55. This represents a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David P. Rosenbaum sold 49,564 shares of Ardelyx stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $6.92, for a total value of $342,982.88. Following the completion of the transaction, the insider now directly owns 301,946 shares of the company’s stock, valued at approximately $2,089,466.32. This trade represents a 14.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 236,756 shares of company stock worth $1,374,538 over the last three months. Company insiders own 5.90% of the company’s stock.

Ardelyx Price Performance

ARDX stock opened at $4.61 on Thursday. The company has a market capitalization of $1.09 billion, a P/E ratio of -15.37 and a beta of 0.83. The company has a fifty day moving average price of $5.50 and a 200-day moving average price of $5.86. 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.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ARDX. Citigroup decreased their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $11.00 to $5.50 in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.42.

Ardelyx 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.