Creative Planning Sells 20,675 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Creative Planning lowered its stake in Ardelyx, Inc. (NASDAQ:ARDX) by 51.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,742 shares of the biopharmaceutical company’s stock after selling 20,675 shares during the period. Creative Planning’s holdings in Ardelyx were worth $136,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ARDX. Inspire Investing LLC lifted its position in Ardelyx by 22.3% in the third quarter. Inspire Investing LLC now owns 59,793 shares of the biopharmaceutical company’s stock valued at $412,000 after purchasing an additional 10,912 shares during the last quarter. CWM LLC increased its stake in shares of Ardelyx by 328.1% in the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 9,821 shares during the period. Helen Stephens Group LLC purchased a new position in shares of Ardelyx in the third quarter valued at about $76,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Ardelyx in the second quarter valued at about $645,000. Finally, Coastal Bridge Advisors LLC bought a new position in shares of Ardelyx during the second quarter valued at about $74,000. Institutional investors own 58.92% of the company’s stock.

Insider Buying and Selling

In other Ardelyx news, insider David P. Rosenbaum sold 49,564 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $6.92, for a total transaction of $342,982.88. Following the completion of the transaction, the insider now owns 301,946 shares of the company’s stock, valued at approximately $2,089,466.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael Raab sold 35,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $5.61, for a total value of $196,350.00. Following the transaction, the chief executive officer now owns 1,220,608 shares in the company, valued at $6,847,610.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David P. Rosenbaum sold 49,564 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $6.92, for a total transaction of $342,982.88. Following the sale, the insider now owns 301,946 shares of the company’s stock, valued at approximately $2,089,466.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,983 shares of company stock valued at $1,632,802 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Ardelyx Stock Down 6.2 %

NASDAQ:ARDX opened at $4.59 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The firm’s 50-day moving average price is $6.01 and its 200-day moving average price is $6.29. The company has a market capitalization of $1.09 billion, a PE ratio of -15.30 and a beta of 0.92. Ardelyx, Inc. has a 1-year low of $3.49 and a 1-year high of $10.13.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ARDX shares. Wedbush reaffirmed an “outperform” rating and set a $11.00 price target on shares of Ardelyx in a research report on Friday, August 2nd. HC Wainwright cut shares of Ardelyx from a “buy” rating to a “neutral” rating and cut their price target for the company from $11.00 to $5.50 in a report on Monday. StockNews.com upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Citigroup dropped their target price on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.42.

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.